Entrepreneurship Development MCQ Questions and Answers

Entrepreneurship Development MCQs Questions and Answers for preparation of MBA, BBA & other academic and competitive exams. Entrepreneurship Development MCQ is very useful for the preparation of academic and competitive exams.
Entrepreneurship Development mcq

Entrepreneurship Development MCQ Questions and Answers

Q1. ___ is a person responsible for setting up a business.
a. Entrepreneur
b. Businessman
c. Manager
d. Planner
Answer: (a)

Q2. Entrepreneurship involves mobilizing the resources & combining them to initiate change in production. T/F
Answer: (T)

Q3. Entrepreneurs are Risk Bearers. T/F
Answer: (T)

Q4. The entrepreneur always introduces something new or can be an imitator. T/F
Answer: (T)

Q5. Individual Entrepreneurs and Institutional Entrepreneurs are different. T/F
Answer: (T)

Q6. Industrial Entrepreneur is a person who demonstrates his innovative skill in organizing a corporate undertaking. T/F
Answer: (F)

Q7. Entrepreneurs of large scale businesses like Tata, Birla, Etc are Instigated Entrepreneur T/F
Answer: (F)

Q8. An induced Entrepreneur is one who is induced to take up an entrepreneurial activity due to policy measures of the government to start a new venture. T/F
Answer: (T)

Q9. An Entrepreneur is different from a manager T/F
Answer: (T)

Q10. Bank Overdraft is a source of short term Finance T/F
Answer: (T)

Q11. Trade Credits are a source of Long term Finance T/F
Answer: (F)

Q12. Borrowing of large money at a rate of interest fairly higher than the actual rate of return on its capital employed is a cause of overcapitalization T/F
Answer: (T)

Q13. To reduce the claims of shareholders, debentures holders & creditors is a remedial measure for over-Capitalization. T/F
Answer: (T)

Q14. IFCW stands for ___
a. International Finance Company, Washington.
b. International Finance Corporation, Washington.
c. Intercompany Finance Corporation, Washington.
d. International Federal Corporation, Washington.
Answer: (b)

Q15. EICI stands for___
a. Export Inspector of Council of India
b. Export Inspection Company of India
c. Export Inspection Council of India
d. Export Investigation Council of India
Answer: (c)

Q16. ECGC stands for ___
a. Export Credit & Guarantee Company
b. Export Company & Guarantee Corporation
c. Export Credit & Guarantee Collaboration
d. Export Credit & Guarantee Corporation
Answer: (d)

Q17. SIDO stands for ___
a. Small Industries Developing Organization
b. Small Industries Development Organization
c. Short Industries Development Organization
d. Small Industries Deployment Organization
Answer: (b)

Q18. DIC stands for ___
a. Disassembled Industries Centers
b. District Industries Collaboration
c. District Industries Centers
d. Developing Industries Centers
Answer: (c)

Q19. NIESBUD stands for ___
a. National Institution for Entrepreneurship & Small Business Development
b. National Institute for Enterprise & Small Business Development
c. National Institute for Entrepreneurship & Small Business Development
d. National Institute for Entrepreneurship & Small Businessman Development
Answer: (c)

Q20. XISS stands for ___
a. Xavious Institute of Social Service
b. Xavier Institute of Social Service
c. Xavier Institute of Socializing Service
d. Xavier Institution of Social Service
Answer: (b)

Q21. MPCO stands for ___
a. Madhya Pradesh Company for Organization Ltd.
b. Madhya Pradesh Consultant for Organization Ltd.
c. Middle Planning Consultancy Organization Ltd.
d. Madhya Pradesh Consultancy Organization Ltd.
Answer: (d)

Q22. CYSEC stands for ___
a. Calcutta ‘Yes’ Self-employment Centre.
b. Calcutta ‘Y’ Self-employment Centre.
c. Calcutta ‘Y’ Self-employment Company.
d. Calcutta ‘Y’ Service-employment Centre.
Answer: (b)

Q23. The main objective of setting up DICs was to promote under a single roof all the services & support required by small & village entrepreneurs. This scheme was introduced in May ___
a. 1970
b. 1975
c. 1978
d. None of the above
Answer: (c)

Q24. IDBI stands for ___
a. Industry Development Bank of India
b. Industrial Development Bank of Investment
c. Industrial Development by Bank of India
d. Industrial Development Bank of India
Answer: (d)

Q25. TCO stands for ___
a. Tata Consultancy Organization
b. Technical Company Organization
c. Technical Configured Organization
d. Technical Consultancy Organization
Answer: (d)

Q26. EGB stands for ___
a. Enterprise Development Bureau
b. Entrepreneurial deli censing Bank
c. Entrepreneurial Development Bureau
d. Entrepreneur Development Bureau
Answer: (c)

Q27. CED stands for ___
a. Centre for Enterprise Development
b. Consultancy for entrepreneurship Development
c. Centre for entrepreneurship Deployment
d. Centre for Entrepreneurship Development
Answer: (d)

Q28. SIET stands for ___
a. Small Industries Extension & Training Enterprise
b. Small Industries Extension & Training Institute
c. Small Industries Extension & Training Institute
d. Small Investment Expansion & Trading Institute
Answer: (b)

Q29. RCF stands for ___
a. Revising Capital foundation
b. Remedial Capital foundation
c. Risk Capital foundation
d. Risk Capital formation
Answer: (c)

Q30. DGTD stands for ___
a. Directing Guidelines of Technical Development
b. Directorate General of Training & Development
c. Directorate General of Technical Development
d. Directorate Governor of Technical Development
Answer: (c)

Q31. IIC stands for ___
a. Investment Institution Centre
b. Indian Investment Company
c. Indian Investment Centre
d. Indian Investment Corporation
Answer: (c)

Q32. ICICI stands for ____
a. Industrial Company & Investment Corporation of India Limited
b. Industrial Corporation & Investment Company of India Limited
c. Industrial Credit & Investment Corporation of India Limited
d. Investment Credit & Investment Corporation of India Limited
Answer: (c)

Q33. Who took the lead to extend financial assistance to small-scale industries
a. SBI
b. IFCI
c. IRBI
d. None of the above
Answer: (a)

Q34. which act was passed by parliament on September 28, 1951
a. State Funds for Corporation Act
b.State Finance Company Act
c. State Finance Corporation Act
d. Small Finance Corporation Act
Answer: (c)

Q35. The LIC was established under the LIC Act in
a. 1954
b. 1950
c. 1956
d. None of the above
Answer: (c)

Q36. ___ Capitalization signifies a situation when an enterprise possesses excess assets in relation to its requirement.
a. Under
b. Over
c. Actual
d. proper
Answer: (b)

Q37. To split up the shares of the enterprise is a remedial measure for ___ Capitalization
a. Over
b. Under
c. Actual
d. None of the above
Answer: (b)

Q38. TQI, SQM, TQC are various names for TQM. T/F
Answer: (T)

Q39. TQM & ISO 9000 both focus on customer satisfaction. T/F
Answer: (F)

Q40. Is Diversification a costly proposition? T/F
Answer: (T)

Entrepreneurship Development MCQ Questions and Answers part-2

Q41. “Seed Capital Scheme” has been operated by
a. SBI
b. IDBI
c. NSCI
d. None of the above
Answer: (b)

Q42. An ___ in a tract of land which is subdivided and developed according to a comprehensive plan for the use of a community of industrial enterprises.
a. Industrial plan
b. Industrial Estate
c. Industrial unit
d. None of the above
Answer: (b)

Q43. ___ signifies a situation when an enterprise process excess assets in relation to its requirement.
a. Over capitalization
b. profit
c. proper capitalization
d. Actual capitalization
Answer: (a)

Q44. MODVAT is to shift the burden of excise taxation away from inputs to their final products. T/F
Answer: (T)

Q45. The small sector was classified into three categories by IRP 1977
a.Cottage & household industries, Tiny Sector, small-scale industries.
b.Cottage & household industries, large, small-scale industries.
c.Cotton & household industries, Tiny Sector, small-scale industries.
d. Household industries, Tiny sectors, small-scale industries.
Answer: (a)

Q46. Engineering expenses related to the business & legal charges are examples of ___
a. Preliminary Expenses
b. Functional Expenses
c. Operational expenses
d. None
Answer: (a)

Q47. On the basis of organization setup, the following are the type of Industrial estate
a. Government, Public, cooperative, Municipal Industrial estate
b. Government, Private, cooperative, Municipal Industrial estate
c. Government, Public, cooperative, Municipal Industrial estate
d. Government, Private, public, Municipal Industrial estate
Answer: (b)

Q48. Capital is arranged from Internal sources refers to the owner’s own money known as
a. Profit
b. Capital
c. Equity
d. None of the above
Answer: (c)

Q49. ___ is usually done by a financial institution which besides making an analysis of the cost & benefits of a proposed project assesses the project from the various aspects of an investment proposition before extending finance.
a. Project planning
b. Project appraisal
c. Project costing
d. none of the above
Answer: (b)

Q50. According to Peter F. Drucker, there are three kinds of opportunities
a. Additive, Complementary, Breakthrough
b. Additive, Complementary, Supplementary
c. Additive, Complementary, Breakthrough
d. Additional, Complementary, Breakthrough
Answer: (c)

Q51. EDP concentrates its attention to give motivation, awareness to all citizens & creating a favorable & healthy environment. T/F
Answer: (F)

Q52. The manager needs to process distinct qualifications and also bear all the risks involved in the enterprise. T/F
Answer: (F)

Q53. Diversification is an example of an Internal growth strategy & Merger is an example of an external growth strategy. T/F
Answer: (T)

Q54. SIDO was established in.
a. 1995
b. 1991
c.1990
d.1978
Answer: (c)

Q55. IPR 1956 re-emphasized the spirit of IPR 1980. T/F
Answer: (F)

Q56. IPR ___ initiated the modern SSI in India.
a. 1956
b. 1952
c. 1990
d.1948
Answer: (a)

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