- 1. Is a business owned by a single person who has complete control over business decision
A) Sole proprietorship
B) Proprietorship
C) Partnership
- 2. is a business that is owned by only one individual. It is the most common and simplest form of a business organization.
A) Sole proprietorship
B) Partnership
C) Proprietorship
- 3. Is a legal arrangement in which two or more persons agree to contribute capital.
A) Proprietorship
B) Sole proprietorship
C) Partnership
- 4. Partnership Agreement is the written contract for a formal partnership.
A) Partnership
B) Sole proprietorship
C) Proprietorship
- 5. a business that is owned by two or more individuals who entered into a contract to carry on the business and divide among themselves the earnings therefrom. The business owners are called partners
A) Proprietorship
B) Partnership
C) Sole Proprietorship
- 6. partnership is registered with the
A) Security and Experience Commission (SEC)
B) Securities and Exchange Commission (SEC)
C) Secure and Easy Communication (SEC)
- 7. an artificial being created by laws and is legal entity separate and distinct from its owners
Articles of incorporation requirement of SEC
A) Corporation
B) Coordination
C) Corner
- 8. Each partner has unlimited liability for the debt incurred by the business
A) Unli Partnership
B) Limited Partnership
C) General Partnership
- 9. One or more general partners and one or more limited partners
A) Limited Partnership
B) Unli Partnership
C) General Partnership
- 10. Profits and asset ownership may be divided in any way agreed upon by the partners.
A) Partnership
B) General Partnership
C) Limited Partnership
- 11. Limited partners cannot be active in management.
A) General Partnership
B) Limited Partnership
C) Partnership
- 12. Is any lawful economics activity concerned with the production and /or distribution of goods or services for profit.
A) Business
B) Agency
C) Company
- 13. QBusiness firm which are engaged in the buying and selling of goods and services are classified as those falling under commerce
A) Trading/Merchandising
B) Trading/Merchant
C) Trading/Merchandise
- 14. Which elements are part of the Wealth Conversion Principle?
A) Investment, Profit, Revenue
B) Land, Labor, Capital
C) Cash, Inventory, Receivables
- 15. Who introduces a new business model that achieves commercial success?
A) Innovator
B) Manager
C) Inventor
- 16. What must be new and commercially successful for an innovation to occur
A) New process only
B) Commercial success only
C) Both new and a commercial success
- 17. What are the key factors to successful entrepreneurship according to the text?
A) Strong financial backing and marketing strategies
B) Forming a competent team, understanding market needs, and streamlining operations
C) Creativity and innovation
- 18. What is the significance of speed in entrepreneurship?
A) It refers to the rate of product development
B) It ensures quick decision-making
C) It helps in managing cash flow effectively
- 19. Goods produced are those which may be intended for ultimate consumption and which are called consumer's goods, or those which are intended for use of business and industry and which are called producer's goods
A) Service
B) Industry
C) Corporation
- 20. Is a type of business operation engaged in rendering of services.
A) Industry
B) Service
C) Trading
- 21. What is not under of operation engaged in rendering of SERVICES
A) Financial
B) Personal
C) Creative
D) Recreational
- 22. is a requisite for a business, where there are three essential elements to create profit for business idea: cash, inventories, and receivables, collectively called the Wealth Conversion Principle.
A) Squad
B) Speed
C) Profit
- 23. Before the entrepreneur converts cash to inventories, they need to form a team or "squad", which includes his or her choices. of business partners.
A) Squad
B) Inventories
C) Receivable
- 24. This is an important initial decision to make since major disagreements with business may lead to venture dissolution
A) Cash
B) Inventories
C) Squad
- 25. To guide the entre. of his or her choice, think of what the current set is needed to complete the enterprise
A) Receivable
B) Spread
C) Squad
- 26. ➤Before the entrepreneur converts inventories to receivables by way of transactions, they needs to ensure that the product sold are priced higher than the cost it was bought or manufactured, with the difference known as spread or margin,
A) Inventories
B) Cash
C) Spread
- 27. To guide the entre., look into underserved and unserved into the market.
A) Squad
B) Speed
C) Spread
- 28. This is large in Human Resource challenge
A) Spread
B) Speed
C) Squad
- 29. this is a Marketing Challenge
A) Spread
B) Cash
C) Speed
- 30. In order for the entrepreneur converts receivable back to cash by way of collection, they need to create a system to manage account receivables effectively, also known as speed
A) Receivable
B) Inventories
C) Speed
- 31. To guide the entrepreneur in his or her choice, think of lean but flexible organization that can routinize various operations in the company to produce desired result.
A) Squad
B) Speed
C) Spread
- 32. this is largely an Operation and Financial challenge
A) Speed
B) Inventories
C) Cash
- 33. the key factor of success in attaining s sustainable enterprise NOT under
A) coordination
B) competency
C) commitment
D) Company
- 34. is a strong drive to achieve goals and objectives through focus and pro-active follow-through
A) Coordination
B) Commitment
C) Competency
- 35. is the organization of different people or groups coming from various function to attain efficiency, effectiveness, and/or impact.
A) Competency
B) Commitment
C) Coordination
- 36. is having a combination of ability, attitude, and behavior to do a particular role or job repetitively well.
A) Competency
B) Commitment
C) Coordination
- 37. CEO needs to find a good balance for all three constituents and ensure each of these three parties gets a compelling offer based on what is valuable to them.
A) Entrapreneur
B) Entrepreneurship
C) Entrepreneur
- 38. there are FOUR major gates every entrepreneur needs to enter to arrive at the house of prosperity
A) preparation, marketing, execution, and self-leadership.
B) competency, coordination, commitment, company
- 39. is sometimes an acronym for managing Customers, Employees, and Owners.
A) CEO
B) President
C) Capital
- 40. the entrepreneur needs a reasonable intelligence quotient (IQ) in order to learn and understand what it takesto make a business successful.
A) Execution
B) Marketing
C) Preparation
- 41. is the cash component that creates the cycleof wealth conversion and prosperity.
A) Money
B) Model
C) Mentors
- 42. It is a big picture plan togenerate sales revenues, profits, cash flows, growth, and how to scale up
A) Model
B) Money
C) Mentors
- 43. -Are the experienced advisers who can add value to the entrepreneur by giving sound guidance to increase the competency, lessenthe risk, anf help open more opportunities for the entrepreneur to succeed
A) Money
B) Mentors
C) Model
- 44. without good creative marketing, commoditization will occur and the entrepreneur will end up competing via low price and/or high promotional expense.
A) Market
B) Preparation
C) Execution
- 45. What is stand for ( IQ )
A) Intelligence Quotient
B) Interested Questions
C) Interesting Quotes
- 46. What is stand for (CQ)
A) Creativity Quotient
B) Creative Quality
C) Creative Quest
- 47. is about beliefs that innovation is better that commoditization. that being innopreneur is better than being entrepreneur
A) MESSAGE
B) MARKET
C) MINDSET
- 48. -is a set of buyers that an entrepreneur focuses on, starting from a beachhead mrket in the beggining, and then adjacent markets for future expansion.
A) MINDSET
B) MARKET
C) MESSAGE
- 49. -is the brand positioning that will be communicated to persuade the target customers to buy.
A) MESSAGE
B) MARKET
C) MINDSET
- 50. What is stand for (EQ)
A) Emmerdale Quoted
B) Emotional Quotient
C) Emotion Quotes
- 51. is about organization structure that can deliver the value planned; hence, the organizational structure can only be identified after the value proposition is formulated
A) METHODS
B) MANAGEMENT SKILLS
C) MACHINERY
- 52. -are about the systems and processes that allow te entrepreneur information and control
A) METHODS
B) MANAGEMENT SKILLS
C) MACHINERY
- 53. -it is about the ability to carry out the plans through people, rewards and leadership.
A) MANAGEMENT SKILLS
B) METHODS
C) MACHINERY
- 54. the entrepreneur will have so many things to do on their own, but at some point, the entrepreneur need to get things done for the business. this requires reasonable Emotional Quotient (EQ)
A) Execution
B) Marketing
C) Preparation
- 55. the entrepreneur must not only be reasonable but also have a high Adversity Quotient (AQ), in order to stand up every after failure or hurdles are experience
A) Execution
B) Marketing
C) Self-leadership
- 56. is about having the grit (courage) to continue the business despite obstacles.
A) MOVING FORWARD
B) MISSION
C) MASTERY
- 57. spend time on upgrading knowledge for themselves and their team constantly.
A) MASTERY
B) MISSION
C) MOVING FORWARD
- 58. is about the purpose or the reason why the business exist beyond making profit.
it can help encourage or motivate entrepreneurs in knowing that their action are not just selfish objective but also for the benefits of others, in showing lovew and concerns for others
A) MOVING FORWARD
B) MISSION
C) MASTERY
- 59. includes knowing the self, the environment as well as the operations
A) MOVING FORWARD
B) MISSION
C) MASTERY
- 60. is a concept that combines innovation and entrepreneurship, focusing on creating innovative solutions, products, or services within existing organizations or through new ventures.
A) INNOPRENEURSHIP
B) ENOPRENEURSHIP
C) INNUPRENEUR
- 61. is an owner of a business who invests his/her resources to bring an idea to life, setting the direction that transforms that idea into reality, thus providing and gaining value that balances effort, purpose and profit.
A) Entrepreneurship
B) Entrapreneur
C) Entrepreneur
- 62. is someone who starts and manages a business, usually with limited resources and a high level of risk.
A) Entrepreneur
B) Entrapreneur
C) Entrepreneurship
- 63. Entails risk taking, hence, a person can be an entrepreneur if he or she has a reasonable rick appetite, not just any risk but calculated risk taking
A) Competency
B) Coordination
C) Commitment
- 64. The idea may or may not be coming from the entrepreneur, but turning an idea into revenue maximization entails defining the best options
A) Competency
B) Coordination
C) Commitment
- 65. Entails getting quality information and making choices from this pieces of information mindful heuristics as well as biases in decision-making
A) Commitment
B) Coordination
C) Competency
- 66. Entails the need to ensure all the interdependent elements are harmony to attain defined goals
A) Commitment
B) Coordination
C) Competency
- 67. Entails financial understanding that the reward of entrepreneurship needs to be much higher than putting cash in high-yielding financial investment, such as preferred shares with guaranteed dividend
A) Competency
B) Coordination
C) Commitment
- 68. is a person who introduces either a new process, product, service or business model to the marketplace that becomes commercially successful
A) Innovation
B) Intrepreneure
C) Innovator
- 69. to maximize the return on investment
A) Money
B) Moving Forward
C) Machinery
D) Mindset
- 70. To have an innovation mindset
A) Machinery
B) Moving forward
C) Money
D) Mindset
- 71. To create an effective organization
A) Machinery
B) Moving forward
C) Money
D) Mindset
- 72. To keep iterating towards objects and goals
A) Moving forward
B) Money
C) Machinery
D) Mindset
- 73. Coordinate the enterdependency of a business model
A) Mission
B) Market
C) Method
D) Model
- 74. Coordinate choice of penetration of the target market
A) Method
B) Model
C) Mission
D) Market
- 75. Coordinate processes needed tp-routinize operation
A) Market
B) Method
C) Mission
D) Model
- 76. Coordinate the establishment for payment of a company mission
A) Model
B) Market
C) Methods
D) Mission
- 77. competency related to sense making and risk assesment that can provide or guided by mentors
A) Message
B) Mastery
C) Mentors
D) Management skills
- 78. competency related initiative and resource management and influencng people skills as part of critical management tasks.
A) Message
B) Mastery
C) Mentor s
D) Management skills
- 79. Competency related to adaptibility and grit resulting to mastery of startegy and change, as well as customer understanding and self transformation.
A) Management skills
B) Mastery
C) Mentors
D) Message
- 80. for preparation, or the capacity to think and reason.
A) CREATIVITY QUOTIENT
B) INTELLIGENCE QUOTIENT
C) EMOTIONAL QUOTIENT
- 81. for marketing, or the capacity to innovate.
A) INTELLIGENCE QUOTIENT
B) CREATIVITY QUOTIENT
C) EMOTIONAL QUOTIENT
- 82. for execution, or the capacity to sense and empathize
A) ADVERSITY QUOTIENT
B) EMOTIONAL QUOTIENT
C) INTELLIGENCE QUOTIENT
- 83. for self-leadership, or the capacity to recover and make progress.
A) ADVERSITY QUOTIENT
B) CREATIVITY QUOTIENT
C) CREATIVITY QUOTIENT
- 84. is needed when problems and obstacles a exoerienced because of the nature of entrepreneurship, where risk and uncertainty are expected.
A) IQ
B) AQ
C) EQ
- 85. sees rewards for taking on opportunities that have potential positive (or negative) consequences
A) Sense Making
B) Risk Appetite
C) Influence
- 86. scanning the environment to detect and interpret what is happening today in order to connect and take actions on potential future outcomes.
A) Sense Making
B) Risk Appetite
C) Influence
- 87. ability to use a personal brandingand interpersonal stayles to gain buy-in constituents.
A) Adaptibility
B) Risk Appetite
C) Influence
- 88. choosing, initiating and sustaining relationship with customers
A) Customer-focus
B) Adaptibility
C) Initiative
- 89. do I have numbers proficiency and understanding to create value for allstakeholders
A) Sense Making
B) Adaptibility
C) Risk Appetite
- 90. do I have the courage to try new aproaches or things or challenge the status quo?
A) Sense making
B) Initiative
C) Risk Appetite
- 91. am I persuasive enough to get everyone involved on board as a team?
A) Influence
B) Initiative
C) Adaptibility
- 92. forming a mental or new idea about the future.
A) Collaboration
B) Critical Thinking
C) Creativity
- 93. offering unique ways t solve defined problems
A) Collaboration
B) Critical thinking
C) Creativity
- 94. developing relationships with the right partners to attain objectives.
A) Collaboration
B) Communication
C) Creativity
- 95. engaging constituents to make them understand and accept your message.
A) Collaboration
B) Communication
C) Critical thinking
- 96. am I able to see big picture where innovation can reside?
A) Critical thinking
B) Collaboration
C) Creativity
- 97. am I able to ask questions gthat provoke more questions that can lead to more and btter quality ideas.
A) Communication
B) Critical thinking
C) Creativity
- 98. am I able to a good conversations and litsen to the opinions of my constituents?
A) Creativity
B) Communication
C) Critical thinking
- 99. am I comfortable with ambiguity and uncertainty
A) Influence
B) Risk Appetite
C) Sense making
- 100. do I have the credibility to convince others about my vission and perspective
A) Communication
B) Creativity
C) Influence
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