This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise – Quiz 6 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 6 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Entrepreneurs often face financial risks, including: A) Guaranteed profits. B) Debt and loss. C) Low expenses. D) Stable income. Show Answer Correct Answer: B) Debt and loss. 2. Is the workplace expectation for being on-time different than the high school expectation? A) Yes, being late for work carries greater penalties than being late at school. B) Yes, being late at school carries greater penalties than being late at work. C) No, the expectations for being on-time are the same at work and at high school. D) Unclear. Show Answer Correct Answer: A) Yes, being late for work carries greater penalties than being late at school. 3. Advertising can be important for a new business because it: A) Communicates a differentiated message to your target customers. B) Is a free form of promotion. C) Allows the new business to set up a network of distributors. D) Is a low-cost method to increase revenues. Show Answer Correct Answer: A) Communicates a differentiated message to your target customers. 4. What was the outcome of Madison Robinson's business venture, Fish Flops, by 2013? A) It went bankrupt. B) It had over $ 1 million in sales. C) It failed to make a profit. D) It was sold to a larger company. Show Answer Correct Answer: B) It had over $ 1 million in sales. 5. Finances will need to be logged, but not accurately. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: A) False. 6. If a business reinvests their profits into a social/environmental cause, does this make them a Social Enterprise? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: A) Yes. 7. A company balance sheet is the single report that best indicates: A) Company quarterly cash flow. B) Company assets and liabilities. C) Company financial projections. D) Monthly debt payments and outstanding debt obligations. Show Answer Correct Answer: B) Company assets and liabilities. 8. Increased concern from consumers over the environment has led to new business start-ups developing products from recycles materials. These business ideas have come about due to: A) Services that have become obsolete. B) Products that have become obsolete. C) Changes in consumer demand. D) Changes in the economy. Show Answer Correct Answer: C) Changes in consumer demand. 9. An example of a NEED is A) Laptop. B) Car. C) Phone. D) Water. Show Answer Correct Answer: D) Water. 10. An entrepreneur is good at: A) Making new business ideas. B) Avoiding risk. C) Buying big companies. D) Selling businesses. Show Answer Correct Answer: A) Making new business ideas. 11. Is Primark a Social Enterprise? A) Yes. B) No. C) All the above. D) None of the above. Show Answer Correct Answer: B) No. 12. What is one key characteristic of an entrepreneur? A) Pessimism. B) Risk aversion. C) Creativity. D) Laziness. Show Answer Correct Answer: C) Creativity. 13. How do entrepreneurs help create solutions to solve the world's social problems? A) Through food and clothing donations. B) They create products, systems and solutions to help change people's lives. C) They give lectures and courses for the local community. D) None of the above. Show Answer Correct Answer: B) They create products, systems and solutions to help change people's lives. 14. The reward for enterprise is? A) Profit. B) Hard work. C) Risk. D) Self-discipline. Show Answer Correct Answer: A) Profit. 15. An entrepreneur is someone who takes a risk to start a business. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 16. Which of the following skills best describes an entrepreneur that has successfully created and launched a unique business idea onto the market A) Team player. B) Communicative. C) Organised. D) Innovative. Show Answer Correct Answer: D) Innovative. 17. How could we make our society more equal? A) By asking the government to increase services to the wealthiest members of society. B) By tackling inequality and making the distribution of wealth more even. C) By including more taxes for the poorer income earners, so they can pay for service. D) By asking banks to give more loans with higher interest rates. Show Answer Correct Answer: B) By tackling inequality and making the distribution of wealth more even. 18. Amber and Grace run a small business. Which of the following is a financial risk for their enterprise? A) A competitor entering the market. B) Non-payment by a customer. C) Introduction of new health and safety legislation. D) Theft of key equipment. Show Answer Correct Answer: B) Non-payment by a customer. 19. Blockbusters failed to address the threat of Netflix as they had no digital content available online. Why did this happen? A) Failure to plan/Lack of strategy. B) Failed to satisfy the needs of customers. C) Both answers are correct. D) None of the above. Show Answer Correct Answer: C) Both answers are correct. 20. Statement 1:Social Entrepreneur is same with CharityStatement 2:Social Entrepreneurship has the ability to generate their own revenue to sustain their social ventures. A) Statement 1 is True Statement 2 is False. B) Statement 1 is False Statement 2 is True. C) Both Statement are True. D) Both Statement are False. Show Answer Correct Answer: B) Statement 1 is False Statement 2 is True. 21. McDonald's is an example of a corporation. A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 22. What is a company called that sells stock to raise money? A) Partnership. B) Corporation. C) Sole Proprietorship. D) Limited Partnership. Show Answer Correct Answer: B) Corporation. 23. Which of the following best describes the term entrepreneur A) Someone who buys a product from a business. B) Someone who uses goods and services produced by a business. C) Someone who works for a business. D) Someone who is willing to take the risk involved in starting a business. Show Answer Correct Answer: D) Someone who is willing to take the risk involved in starting a business. 24. Ben and Jeda are managing a manufacturing company. Which of the following is an operational risk for their enterprise? A) Increased interest charges on a business loan. B) Introduction of new health and safety legislation. C) Breakdown or theft of key equipment. D) A competitor entering the market. Show Answer Correct Answer: C) Breakdown or theft of key equipment. 25. What is meant by enterprise? A) A person who spots an opportunity to provide goods or services to customers in order to make a profit. B) The process/activities by which new businesses are formed in order to offer products and services in a market. C) All the above. D) None of the above. Show Answer Correct Answer: B) The process/activities by which new businesses are formed in order to offer products and services in a market. ← PreviousNext →Related QuizzesClass 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 1Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 2Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 3Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 4Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 5Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 7Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 8Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 9Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 10Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books