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Ultimate Startup Quiz for Entrepreneurs – Test 1

Ultimate Startup Quiz for Entrepreneurs – Test 1’s Description :

A grand welcome to all entrepreneurs, CEO, and business owners. Do you think that you are an entrepreneurship buff?

Get ready to put your entrepreneurship skills and talents to an immediate test.

We all know that entrepreneurship is important because it has the potential, not only for entrepreneurs but also for related companies, to raise living standards and generate wealth. Entrepreneurs often contribute to innovation shift, where innovative and improved products enable new kinds of markets to be formed. Some say “Entrepreneurship” is the creation or extraction of value. I say that “Entrepreneurship” gives you a secret key to achieving hero status in our culture.

As an entrepreneur, you may be taking risks in order to create new businesses or companies. You may strive to work hard in order remain to be the key players in capitalist societies, as you create wealth and job creation, identifying the market gaps – along the way. The question is that – are you actually good at the subject and practice of entrepreneurship activities? How much do you know about entrepreneurship, by the way? Time to find out now.

This superb yet brilliant practical quiz course from Legend ‘Srinidhi Ranganathan’, the king of Digital Marketing and Mastermind ‘Saranya Srinidhi’ will feature questions about startups, generic questions on entrepreneurship skills, finance skills, and much more. You can surely challenge yourself to the maximum, on this fascinating subject of ‘startup business’ by taking up this quiz-based course.

Each quiz question in this course is made up of proven interesting researched concepts that test your awareness and grasp of the subject. Detailed feedback for the quiz answers is provided too.

INSTRUCTIONS:

  • This Quiz is related to Ultimate Startup Quiz for Entrepreneurs Practice Test # 1 in this series
  • The Quiz based on the Topic, “Startup Quiz for Entrepreneurs
  • If you have good understanding about the subject, then you can attempt it
  • There will be 20 Multiple Choice Questions (MCQs) in this test
  • You have 60 Seconds to answer a single Multiple Choice Question
  • Questions will be randomly changed every time you start this test
  • You should practice more and more to get high marks
  • Passing Criteria is 60 percent for this Quiz
  • You can retake this test as many time as you like
  • The progress bar at the top of screen will show your progress as well as the time remaining where timed quiz
  • After the quiz, You will find Your Test Score and Grade
  • If you feel that any Incorrect Answer to a Question, simply Comment us about the Question.

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True or False. 'Preferred Stock' is the American term for 'Preference Share'

Correct! Wrong!

Preferred Stock' is the stock that entitles the holder to a fixed dividend, whose payment takes priority over that of ordinary share dividends, after all. It is also the American term for 'Preference Share'.

Intrapreneurship is:

Correct! Wrong!

Intrapreneurship is a system which allows an employee to act like an entrepreneur within an organization. It is also the combination of 'intra' meaning within the company or corporate and 'preneur'.

This important element may actually lead to make much better decisions for your business when it comes to its long term investment goals.

Correct! Wrong!

An organizational structure is a system that outlines how certain activities are directed toward achieving an organization's objectives. This may involve laws, positions, and responsibilities. The organisation's framework therefore defines how knowledge moves within the organization across stages and may actually lead to make much better decisions for your business when it comes to its long term investment goals.

True or False. By running your own startup business, you're embracing the opportunity to shape the future.

Correct! Wrong!

By running your own startup business, you're embracing the opportunity to shape the future. As an employee of a company, you will be building someone else's definition of succes, after all.

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True or False. Venture Capital is typically a guarantee given by the officers of a company to a buyer of that particular company that all the material facts have been disclosed.

Correct! Wrong!

Venture Capital is the managed funds that buy stakes, usually in private companies, to help the organization realise their growth potential.

For a successful business plan the goals must be:

Correct! Wrong!

For a successful business plan the goals must be measurable or what we call as 'specific'. Specific goals help to measure your progress in a systemized way towards the accomplishment of the goal.

A graphical tool for evaluating leader behavior along two basic attributes concern for results and concern for people is commonly known as:

Correct! Wrong!

A leadership grid, also known as a management grid, is a tool for determining leadership style. It is a graphical tool for evaluating leader behavior along two basic attributes concern for results and concern for people. The idea dates to the 1960s and has been developed by Robert Blake and Jane Mouton.

The initial capital required to start a business venture and prove that the concept is viable is called as

Correct! Wrong!

Seed capital is the funding that is needed to get started with a new business. This initial funding, usually comes from the business owners or friends and family to support preliminary activities such as market research, product research and development (R&D) etc.

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True or False. The primary goal of social entrepreneurs is to create personal wealth only.

Correct! Wrong!

The main goal of a social entrepreneur is not to earn wealth, but rather to implement good improvements in society that are widespread. However, a social entrepreneur must still be financially capable to succeed in his or her cause.

True or False. Any organization or business needs people who are good at both leadership and management. This would come in handy if the company wants to thrive.

Correct! Wrong!

Emphasis needs to be placed equally on both areas of management and leadership if an organization wants to thrive or find success.

Hawthorne Effect' is a technique to test the solution of a user problem by manually performing tasks as a service.

Correct! Wrong!

Concierge' is a technique to test the solution of a user problem by manually performing tasks as a service. Typically it is inefficient in terms of cost effectiveness, but can provide exhaustive information about how a solution can be created.

The primary reason amongst others why people start their own business is to:

Correct! Wrong!

The primary reason amongst others why people start their own business is to survive finacially and slowly or quickly proceed from survival mode to growth mode.

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A micro-firm has:

Correct! Wrong!

A micro-enterprise (or microenterprise) is generally defined as a small business or company employing nine people or fewer

A survivalist business is:

Correct! Wrong!

A type of business that is not considered to have a potential to generate income and to provide employment is called as a survivalist business. The existence of such types of businesses is often crushed by literature as they are perceived to be businesses that are doomed for only failure.

What do we mean by 'lean startup'?

Correct! Wrong!

Lean startup is a strategic approach to building new businesses based on the belief that entrepreneurs must investigate, experiment, test and iterate as they develop new products. The primary three steps entrepreneurs can take to begin building a lean startup are to Find, Execute, and Validate

What is the primary goal of a startup?

Correct! Wrong!

The primary goal of a startup is to search for a scalable, repeatable and profitable business model

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True or False. Data mining uses stats from large amounts of data to learn about target markets or segments and behavioral attributes of customers

Correct! Wrong!

In simple words, data mining is defined as a process used to extract usable data from a larger set of any raw data to learn about target markets or segments and behaviorial attributes of customers.

True or False. An Entrepreneur plays a crucial role in generation of employment opportunites

Correct! Wrong!

The role of an Entrepreneur strictly involves the generation of employment opportunities

Bench-marking is:

Correct! Wrong!

Benchmarking is the actual practice of comparing business processes and performance metrics to industry best practices from other companies.

Which brand types have the most subscribers on YouTube, out of all business categories?

Correct! Wrong!

The media industry has led the way as it did in 2019, averaging more than 6 million subscribers per brand channel.

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Ultimate Startup Quiz # 2

Complete NTS MCQs with Answers

Business Mathematics MCQs with Answers

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