ENTEREPRENEURSHIP & INNOVATION Management

SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

Q1.Which of the following is the most important for the entrepreneur, while
Risk Profit Market Competitors
A1 starting a new venture, to make an assessment of? 1
Entrepreneurship is the ________ activity of an individual or a group of
individuals who seek to earn profits through the production and distribution of purposeful default business selective
A2 economic goods and services 1
More difficult When the When the
Less likely than to manage developer developer
User innovation is: manufacturer than other expects to expects to
innovation types of benefit by using benefit by
A3 innovation it selling it 1
To identify
To see if there are To explore
possible To estimate the
Why should an entrepreneur do a feasibility study for starting a new venture? possible barriers to potential
sources of expected sales
success customers
A4 funds 1
In ________ economy, both the government and the private entrepreneurs
capitalistic socialist communist mixed
A5 played an equally important role. 4
Which one is not the process of creativity? Incubation Validation Idea Generation Establish Vision
A6 4
A7 In________ , the state played the role of the entrepreneur. capitalistic socialist communist All the above 2
Invention, Duplication,
Extension, Invention, Duplication, Invention, None of the
What are the four types of Innovation?
Synthesis, Duplication Copying, Creativity, above
A8 Extension Extension 4
The entrepreneur is able to recognize the commercial potential of the invention
and organize the capital, talent, and other resources that turn an invention into a Start up Venture Innovation Business
A9 commercially viable 3
What is the process by which individuals pursue opportunities without regard to Entrepreneursh Feasibility
Startup management Financial analysis
A10 resources they currently control? ip planning 2
Second
Pure Technical
Kumar Manglam Birla is what type of Entrepreneur? Founder Generation
Entrepreneur Entrepreneur
A11 Entrepreneur 4
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
If an entrepreneur does not have the willingness to assume risk, entrepreneurship not undergo start risk free
never succeed never fail
A12 would losses business 1
Invention, Duplication,
Extension, Invention, Duplication, Invention, None of the
What are the four types of Innovation?
Synthesis, Duplication Copying, Creativity, above
A13 Extension Extension 4
Improvement
Generation of
Role of Entrepreneurship in Economic Development includes: Capital formation in per capita All the above
employment
A14 income 4
maximisation
creation and use of follow the development of
Entrepreneurship involves all except of output from
innovative ideas market leader managerial skills
given resources
A15 3
Q1.According to a Wall Street Journal survey, which of the following was
Lack of access to
identified as the biggest obstacle to growth for African-American entrepreneurs?
B1 Racisim Lack of training capital and credit All of the above 3
___________ implies that women entrepreneurs are now economically Better utilization of Improved Economic Employment
B2 independent and take decisions independently. resources quality life development generation 2
Among Hispanic groups, which subgroup owned the greatest number of firms?
B3 Puerto Ricans Cubans Mexicans Spaniards 3
financial
Many of the women-owned businesses are concentrated in the: retail and service manufacturing management medical
B4 sector. industry. industry. industry. 1
The economic empowerment of women is being regarded these days as a Sine- None of the
B5 quo-non of progress for a country Quid pro quo Sine-quo-non Both A and B given 2

those who interact

among people
The term "minority entrepreneur" does NOT include: sharing common any individual
national background appalachian those who not of the
or migration Mountain recently arrived majority
B6 experience. businessmen. in the country. population 2
____ implies that women entrepreneurs are now economically independent and Better utilization of Improved Economic Employment
B7 take decisions independently. resources quality life development generation 2
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
do not have as
have a more much
Women-owned businesses may be smaller than those owned by men because
cannot find good difficult time do not have management
they:
quality training finding equal access to experience as
B8 programs. employees. capital. men 3
having control
One study found that women defined success as: having many over their earning a large
B9 achieving goals. employees. destinies. salary 3
A women entrepreneur is supposed to have a minimum financial interest in share None of the
B10 capital of entrepreneur’s enterprise: 35 per cent 51 per cent 25 per cent above 1
B11 Which state has the highest number of women entrepreneurs in India Kerala Maharashtra Tamil Nadu West Bengal 3

When a
It is easy to feel business is very When a new
Many women entrepreneurs who desire balance between work and home
overwhelmed by the new, it is often business begins
discover that:
responsibilities of a easier to get to grow quickly,
young company and away when flexibility often
B12 young children. necessary. disappears. All of the above 4
first and
foremost in the
Women entrepreneurs are having an impact:
only in the United mainly in third- United
B13 States. worldwide. world countries. Kingdom. 2
Female entrepreneurs differ from male entrepreneurs in terms of following Departure
B14 except: Select collect option: Business skills point Motivation Goal orientation 3
B15 Women are now starting new ventures at time(s) the rate of men. one two three four 3
in-depth
understanding
Q1.The most cited source of new business ideas is of
industry/profes copying none of the
C1 brainstorming. sion. someone else. above. 2
Felix is an entrepreneur. At this stage of his company , his main concerns are do
we have enough customers and money. What stage of growth is Felix’s company
C2 in? Start-up Survival Takeoff Success 1
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
Which of these refer to an arrangement by which the owner of a product or
service allows others to purchase the right to distribute the product or service Business
C3 with help from the owner? Franchising incubation Spinning-off Globalization 1
______ process of creating incremental wealth is called Entrepreneurship.
C4 Static Continuous Systematic Dynamic 4

Which of the following is a reason why a person might prefer to purchase a ability to benefit
franchise rather than open a completely new business? increased from previous reduced royalty
C5 higher failure rate. independence. experience. fees 3
A group of companies or individuals that invests money in new or expanding an equity financing a venture capital
C6 businesses for ownership and potential profits is known as firm. franchising. firm. a corporation 3
Today, inspired by the growth of companies such as Amazon.com, entrepreneurs Small Business
C7 are flocking to the ______ to start new businesses. Administration Internet bookstore mall 2
C8 Entrepreneur actually starts setting up of an enterprise by Planning Organizing Staffing Directing 4
Technological Social Political Economic
Which of the following is an internal factor that influences entrepreneurs?
C9 Capacity environment environment condition 1

Which one of the following is the step involved in setting up a new enterprises? Creating a business Making a Selecting the Setting up
C10 plan product choice location infrastructure 4
adaptive
The opposite of "opportunity thinking" is: thought self- response
C11 obstacle thinking leadership. self-efficacy. behavior. 1
High interest
Factors contribute to the creation of new venture EXCEPT:
C12 Government Finance rates Role models 3
Access from
Which one of the factors should be considered while assessing the location for
roadways to All of the given
business?
C13 Parking facility Delivery rates options 4
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

a group of
experienced a group from the a group of
people who Small Business managers who
An entrepreneurial team is:
a group of people join together to Administration get together to
who work within a develop and which consults find creative
corporation to launch market a new with small solutions to
C14 new products. product. business owners. problems. 2
Robert Vadera is a business owner who works from home as a freelance video
producer. He really enjoys his work, but isn’t looking to “set the world on fire”
with his company. He just wants to make a good living and spend time with his
venture
family when he can. Vadera would be classified as a(n)
C15 entrepreneur. intrapreneur. micropreneur. capitalist. 3
Q1.If the investment in fixed assets or plant and machinery does not exceed one
Small scale Cottage:
crore rupees, then that particular firm come s under the category of
D1 Tiny industry industry Village industry industry 2
10Lacs – 2 2 Crores – 5 None of the
Investment in equipments service sector in Micro scale industry should be
D2 Up to 10 Lacs Crores Crores above 1
In which type of organization does one person take all the risks?
D3 corporation partnership monopoly proprietorship 4
Which ownership type has unlimited liability (owner has full responsibility for
Sole
company's debt and can lose entire investment as well as personal assets).
D4 Partnership Franchise Corporation Proprietorship 4
sole
Business owned by one person
D5 partnership franchise proprietorship corporation 3
Law firms, medical practices, and auto body repair shops are examples of what
D6 type of ownership sole proprietorship partnership franchise corporation 2

Partnership must be Partners share

Which are the disadvantages of a partnership?
reorganized if one unlimited Partners may not All of these are
D7 partner quits liability get along correct 4
Easy to start, Owner is his/her own boss, Owner keeps all the profits - These are
Sole
advantages of what type of business
D8 Franchise Corporation Parntership Proprietorship 4
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

What is the advantage of corporations? minimal government

D9 regulation limited liability short life span has one owner 2
D10 Nike, IBM, and Google are examples of partnership franchise corporation partnership 3
The Dow Jones industrial average swept past 12,000 for the first time. Investors
are increasingly optimistic about corporate earnings and the economy. This
achievement MOST likely involved which type of business organization?
D11 proprietorship partnership corporation conglomerate 3
Owned by many people - stockholders, but treated by the law as one person
D12 Sole Proprietorship Franchise Partnership Corporation 4
A(n) _____________ is a form of business organization in which two or more
Limited liability General Sole
business owners share the management and risk of the business
D13 company partnership Corporation proprietorship 2
D14 Who plays an important role in all three business organizations? Governors Presidents Entrepreneurs Magistrates 3
10Lacs – 2 2 Crores – 5 None of the
Investment in equipments service sector in small scale industry should be
D15 Up to 10 Lacs Crores Crores above 2
E1 Q1.IFCI was established in the year___________ 1985 1984 1980 1987 2

State Travel Service

SIDO stands for____________ Industries Industries Small Industries Small Institution
Development Development Development Development
E2 Organization. Organization. Organization. Organization. 3
units in units set up by
A concessional rate of interest is charged by SFC in case of__________ backward technical
E3 small scale industries. areas. entrepreneurs All the above. 4
The objective of Rajiv Gandhi Udyami Mitra Yojana (RGUMY) is to provide
handholding support and assistance to the potential first generation
entrepreneurs, in the establishment and management of the new enterprise, in
dealing with various procedural and legal hurdles and in completion of various
formalities required for setting up and running of the enterprise ________ it was
E4 launched in the year ? 2005 2006 2007 2008 4
KVIC ________ Khadi Village & industries commssion,formed under the Act of
Parliament, 'Khadi and Village Industries Commission Act of 1956.full functioning
E5 came in april 1957.head office is in ? Hyderabad Baroda Mumbai Noida 3
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
National Manufacturing Competitiveness Programme (NMCP) was introduced in
E6 the year ? 2005 2006 2007 2008 1

To distribute
To assist small basic raw To secure
The main function of SIDO is _________
To provide SSI with industries with materials reservation of
machines on hire marketing through their certain products
E7 purchase basis. facilities. depots. for the SSIS. 4
Institutional agencies grant financial assistance to small scale industries for
participation in equity acquisition of working capital
_________.
E8 capital only. fixed assets. assistance. all of the above. 4
National Institute of Entrepreneurship and Small Business Development
E9 (NIESBUD)is situated where ? Hyderabad Kolkata Noida Meerut 3
Co-operative
SIDC was set up under the__________
E10 societies Act. Companies Act. Industries Act. Partnership Act 2
Assistant Non-
DIC is headed by General Manager in the rank of ___________. Joint Director of Director of departmental Departmental
E11 industries. industries. officer. officer 1

National Rural Training of Rural

MSME Ministry proposed inclusion of khadi spinning in ________ recently ? Employment Employment Youth for Self-
Guarantee Act Assurance Employment
E12 (NREGA) Scheme (EAS) (TRYSEM) All the above 1
The Head Office of the Coir Board is at Ernakulam and the Reasearh cum Training
E13 Office is in ? Kerala Karnataka UP Maharashtra 1
E14 Mahatma Gandhi Institute for Rural Industrialisation (MGIRI) 10th FYP 12th FYP 11th FYP 9th FYP 2
E15 SFC Act was amended in the year __________ 1970 1971 1972 1973 3
Q1.small-scale industries (SSI), are exempted from the payment of income-tax on
their profits which is subject to a maximum of ___ per cent per annum of their
F1 capital employed. 5 6 8 10 2
The SSI units are ____ under excise provisions and have to follow simplified None of the
F2 export procedures. covered not covered partially covered above 2
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

Goods manufactured by an SSI unit with the brand name of others are not eligible goods are goods are goods are goods are
for SSI concession unless, manufacture in an manufacture in manufacture manufacture in
F3 urban area. a rural area. outside India. SEZ. 2
SSIs can claim deductions in respect of profits and gains (under section 80IB of 20% for first 10 30% for first 10 None of the
F4 Income tax Act) at ______ if the SSI unit is owned by a company 10% for first 10 years years years above 3
F5 SSI exemptions are not applicable to Watches Automobiles Cotton clothes Both A and B 4
Any
The small scale unit wishing to export has to obtain exporters code number from
The Reserve Bank of The Central Any Regional International
_________.
F6 India. Bank of India. Bank. Bank. 1
F7 SSI exemptions are applicable to Tobacco products Pan Masala Garments Matches 3
Union Budget 2018, announced lowering of the corporate tax rate from 30% to
F8 25% for companies with an annual turnover of up to Rs. ______ 50 crore 100 crore 200 crore 250 crore. 4
Under section 80J of the income tax act, 1961, small-scale industries are
exempted from the payment of income tax on their profits at ___________.
F9 6% p.a. 6% p.m. 5% p.a. 5% p.a. 1
Rehabilitation allowance is allowed to the industrial undertaking equal to ___
percent of the amount of the deduction allowable to the enterprise.
F10 10 20 60 80 3

Without the
payment of Without the
SSI units can send its raw materials or semi-finished material back and forth
With the payment of duty when its payment of duty
another unit for job work.
duty when total turnover when its total
irrespective of total is below 150 turnover is None of the
F11 turnover lakhs. above 150 lakhs. above 2
Under section 35 (2AB), a weighted deduction @ ____ per cent of the
expenditure incurred on in-house research and development is allowed for SSI.
F12 100 200 300 400 2

SSIs can claim deductions in respect of profits and gains (under section 80IB of
25% for first 10 30% for first 10 None of the
Income tax Act) at ______ if the SSI unit is owned by a co-operative society
F13 10% for first 10 years years years above 2
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

Clearances of
strips of
plastics used
within the
factory of
production for
SSI concessions, that is, not covered under SSI exemption Clearances of the weaving of
specified goods which fabrics or for
are used as inputs for manufacture of Clearances of
further manufacture sacks or bags goods
of any specified made of manufactured by
goods within the polymers of SSI unit for
factory of production ethylene or captive
F14 of the specified goods propylene consumption All the above 4

are not
exempted from
Exempted small units, having turnover below 150 lakhs, which are exempt from are also exempted provisions of
duty, from provisions of registering Have to
registering their units their units with registering their
with excise excise units with excise None of the
F15 authorities. authorities. authorities. above 1
Greater
Q1.Innovative entrepreneurs may have to pay high insurance premiums due to
The need to protect employee Greater Greater trading
the:
G1 patents liability customer liability risk 1
None of the
Knowledge-based innovation has the ____ lead time of all innovations.
G2 Shortest longest Medium above 2
Structured
Innovative entrepreneurs face special issues in raising:
G3 Development capital capital Human capital Seed capital 4
No more or less More growth
Firms located on science parks compared to those located off science parks are:
G4 More innovative Less innovative innovative orientated 3
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

Be absorbed Be absorbed
Schumpeter considered that innovative entrepreneurs would:
within large within non-
G5 Thrive Disappear innovative firms innovative firms 3
Changes in
perception,
Sources for innovative opportunity prescribed by Peter Drucker are
mood, and
G6 Demographics meaning New knowledge All the above 4
Change in Innovation
Which one is not a source for innovative opportunity prescribed by Peter Drucker The unexpected organization based on
G7 success or failure structure The incongruity process need 2
Business Chambers of Business
Networking by innovative entrepreneurs may be most encouraged by?
G8 Science parks incubators Commerce associations 2

Ability of the
Ability of the entrepreneur to
An advantage of the small firm in the innovation process?
entrepreneur to act on new
Ability to carry out Ability to raise carry out ideas or product
G9 R&D finance multiple tasks development 4
G10 Knowledge-based innovation is the “______” of entrepreneurship. father king super-star end 3
practical, unique,
An innovation, to be effective, has to be ____ and it has to be ____.
G11 simple, focused realistic new, affordable marketable 1
Knowledge-based Automobile Aerospace
Innovative small firms are more likely in:
G12 sectors Biotechnology manufacture manufacture 1
Which one of the following actions by an entrepreneur is most likely to contribute Development of a Take-over of a
G13 to creative destruction? new product competitor Issuing shares Reducing prices 1

Inability of
The most likely problem encountered by innovative entrepreneurs in raising potential
finance is: Limited security since The costs of The exhaustion external funders
R&D is an intangible the patenting of personal to understand
G14 asset system equity in R&D technology 3
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
Introduce new Introduce
External links may provide incentives to: working improvements to Attend business
G15 Raise finance practices products exhibitions 3
Business
Business incubation Business
Q1.Which is not a stage of business incubation development: Business incubation incubation as viewed from incubation as
provided within business networks’ outsourced
H1 physical facility support service perspective service 4
A Business Incubator is a facility designed to assist businesses to become _____ Operational, Trained and Established, Ready and
H2 and _____ during their incubation period. successful skilled profitable equipped 3
National Science and Technology Entrepreneurship Development Board (NSTEDB)
launched the Science and Technology Entrepreneurs Parks (STEP) in the
H3 early______ 1980’s 1970’s 1990’s 2000’s 1

business incubators will provide a variety of resources or resourcefulness which A Full Time
may include Business Advice and Networking Manager and
H4 Services and Mentoring Shared Premises All the above 4
Companies typically spend average of two years in a business incubator, during
which time they often _____ telephone, secretarial office, and production
equipment expenses with other startup companies, in an effort to _____
Outsource,
everyone's overhead and operational costs.
H5 Rent, overcome Share, reduce optimize Hire, minimize 2

their staff
supplies advice
and much-
needed
Benefits provided by Incubators to owners of startup businesses.
expertise in
Their office and developing
manufacturing space business and they helping to
is offered at below- marketing fund fledgling
H6 market rates, plans businesses. All the above 4
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A
_________ is a business support process that accelerates the successful
development of start-up and fledgling companies by providing entrepreneurs Entrepreneursh Business
H7 with an array of targeted resources and services. Business incubation ip Intrapreneurship incubator 1

Businesses that
have gone
Individuals with through the
Trainees in a business innovative startup phase
The incubatees may be:
development ideas and a but now need
programme whose supporting support to reach
innovative ideas business proliferation but
attract the financing concept and an lack the know-
eye of the incubating accompanying how or financial
H8 institution business plan resources All the above 4
National Science and Technology Entrepreneurship Development Board (NSTEDB)
launched the Technology Business Incubators (TBI) in the beginning of _____.
H9 1980 1990 2000 2010 3

The knowledge,
Incubation program ensures that an individual seeking to start or promote the Man, machine, experience in
growth of their enterprise has easy access to ________ . money, management,
Facility, infrastructure method and and financial
H10 and knowledge management resources. All the above 3

public
Business incubation programs are often sponsored by all of the following except institutions, such
municipal as colleges and
H11 private companies entities universities entrepreneurs 4
SR.NO DESCRIPTION OPTION1 OPTION2 OPTION3 OPTION4 A

A policy support
An effective feasibility study, which will help incubator determine whether the perspective to
proposed project has all the factors crucial to an incubator’s success include: Strong attract
A solid market and a community government
H12 sound financial base support linkage All the above 4
United States of United
Business incubators originated in ______
H13 America Kingdom China India 1
Incubators carefully screen potential businesses because their space, equipment,
H14 and finances are _______ . Limited Expensive Outsourced Leased 1
There are approximately ______ business incubators nationwide, according to the
H15 National Business Incubation Association. 700 800 900 1000 3