This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Entrepreneurship Chapter 1 Entrepreneurship And Enterprise Quiz 7 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Money paid by a company to a person who owns stock in that company. A) Liquid assets. B) Assets q. C) Dividend. D) Mortgage. Show Answer Correct Answer: C) Dividend. 2. Of the three types of businesses, which one provides the most jobs? (Hint:Which one is the most common?) A) Corporation. B) Partnership. C) Sole proprietorship. D) None of these are correct. Show Answer Correct Answer: C) Sole proprietorship. 3. Money earned when something is sold. It is usually stated as a percentage A) Commission. B) Collateral. C) Liquid asset. D) Liability. Show Answer Correct Answer: A) Commission. 4. Define the term "Calculated risk" A) Buying a product without doing market research. B) Not carefully assessing the situation. C) A chance of exposure to loss or injury is undertaken having carefully assessed the advantages and disadvantages of taking that risk. D) None of the above. Show Answer Correct Answer: C) A chance of exposure to loss or injury is undertaken having carefully assessed the advantages and disadvantages of taking that risk. 5. What is a social enterprise? A) A for profit organisaion. B) One that puts people and community ahead of private and personal gain. C) An organisation with the goal of providing entertainment. D) None of the above. Show Answer Correct Answer: B) One that puts people and community ahead of private and personal gain. 6. What is the cost of sugar in the lemonade business example? A) $ 0.10. B) $ 0.20. C) $ 0.30. D) $ 0.40. Show Answer Correct Answer: C) $ 0.30. 7. When a business launches an updated product with new features it is best described as adding value through: A) Convenience. B) Branding. C) Quality. D) Design. Show Answer Correct Answer: D) Design. 8. Two local business owners want to reduce competition, so they decide to form one organization from the two companies. This is an example of a A) Monopoly. B) Hostile takeover. C) Merger. D) Trading bloc. Show Answer Correct Answer: C) Merger. 9. A person who organizes, operates and takes the risk for a new business venture ..... A) Entrepreneurship. B) Entreprise. C) Entrepreneurial. D) Entrepreneur. Show Answer Correct Answer: D) Entrepreneur. 10. What is the best definition for 'charity'? A) An organisation whose sole interest is to make money for larger businesses. B) An organisation set up to provide help and raise money for those in need. C) An organisation whose sole interest is to make profit. D) None of the above. Show Answer Correct Answer: B) An organisation set up to provide help and raise money for those in need. 11. Another word used to describe a free enterprise system is: A) Communism. B) Capitalism. C) Nationalism. D) None of the above. Show Answer Correct Answer: B) Capitalism. 12. What is a business plan primarily used for? A) To entertain employees. B) To outline business goals and strategies. C) To confuse competitors. D) To avoid paying taxes. Show Answer Correct Answer: B) To outline business goals and strategies. 13. Organisational skills are imperative to running a successful business. A) False. B) True. C) All the above. D) None of the above. Show Answer Correct Answer: B) True. 14. A person or a business with a strong credit score and the financial resources that make it like they will be able to pay any loan. A) Collateral. B) Dividend. C) Credit-worthy. D) Net income. Show Answer Correct Answer: C) Credit-worthy. 15. "The creation of innovative enterprises that make a positive and sustainable impact on society and/or the environment" is the definition of ..... A) Social entrepreneurship. B) Enterprise skills. C) Business entrepreneurship. D) Community development. Show Answer Correct Answer: A) Social entrepreneurship. 16. What is the term for the money businesses earn? A) Expense. B) Income. C) Profit. D) Loss. Show Answer Correct Answer: B) Income. 17. What is equity? A) Describes an individual who takes the initiative and risk to set up a business. B) A new method, idea, product, etc. C) Any activity a business does to try and contact potential customers. D) Shares or ownership stakes in a business. Show Answer Correct Answer: D) Shares or ownership stakes in a business. 18. An example of a variable cost is: A) Overhead salaries. B) Cost of goods sold. C) The salary of the Finance Vice President. D) Monthly rent. Show Answer Correct Answer: B) Cost of goods sold. 19. What is enterprise? A) The creation of a business. B) The management of the economy. C) The skill of being able to sport an opportunity. D) The skills that an entrepreneur has. E) Government funded businesses. Show Answer Correct Answer: C) The skill of being able to sport an opportunity. 20. It is not necessary to give participants examples of how to integrate enterprising skills content into the curriculum (True/False)? A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: B) False. 21. Amber and Charlie are entrepreneurs attending a business conference. What is a key benefit they can gain from networking at this event? A) Isolation from industry trends. B) Access to new opportunities and resources. C) Guaranteed business success. D) Reduction in competition. Show Answer Correct Answer: B) Access to new opportunities and resources. 22. Which of the following is a common source of business ideas? A) Watching television. B) Identifying a gap in the market. C) Reading novels. D) Playing video games. Show Answer Correct Answer: B) Identifying a gap in the market. 23. Not planning for change in the business environment is ..... A) Internal growth. B) A reason for business failure. C) Business planning. D) Environment management. Show Answer Correct Answer: B) A reason for business failure. 24. Bank loan applications: A) Can be intimidating, complex and detailed. B) Are easy to complete. C) Are short. D) Can only be completed in the presence of a banker during regular work hours. Show Answer Correct Answer: A) Can be intimidating, complex and detailed. 25. Which of the following statements best describes the term added value A) When a product stands out from those of its competitors. B) Making a product widely recognisable. C) The difference between the cost of making a product and its selling price. D) Making a product convenient to use. Show Answer Correct Answer: C) The difference between the cost of making a product and its selling price. ← 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 6Class 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