This quiz works best with JavaScript enabled. Home > Entrepreneurship > General > Entrepreneurs – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 18 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. ..... is the process of creating something new, which is central to the entrepreneurial process. A) Modernism. B) Innovation. C) Execution. D) Creativity. Show Answer Correct Answer: B) Innovation. 2. Who is currently the richest entrepreneur in the world? A) Bill Gates. B) Jeff Bezos. C) Warren Buffett. D) Bernard Arnault. Show Answer Correct Answer: B) Jeff Bezos. 3. Entrepreneurs believe in themselves. A) Self-Confident. B) Risk-Taker. C) Persistent. D) Creative. Show Answer Correct Answer: A) Self-Confident. 4. You are running a business. During one month your total expenses are $ 5, 250 and your total revenues are $ 5, 750. Which statement best expresses how the business did? A) It was in the black. B) It was in the red. C) It was neutral. D) None of above. Show Answer Correct Answer: A) It was in the black. 5. The advantages of producing one additional unit of a good or service are measured by: A) Opportunity cost. B) Marginal benefit. C) Sunk cost. D) Equilibrium price. Show Answer Correct Answer: B) Marginal benefit. 6. Who started GEICO? A) Leo Goodwin. B) Leonard Goodwill. C) Leo Godwallow. D) Leonard Goodman. Show Answer Correct Answer: A) Leo Goodwin. 7. This entrepreneur is the founder, CEO, and president of Amazon A) Elon Musk. B) Mark Cuban. C) Jeff Bezos. D) None of above. Show Answer Correct Answer: C) Jeff Bezos. 8. The amount owed by a business to its suppliers for credit purchases is called A) Accounts receivable. B) Accounts payable. C) Merchandise payable. D) Purchases on account. Show Answer Correct Answer: B) Accounts payable. 9. The capacity for innovation, investment and expansion in new markets, products and techniques. A) Business. B) Businessman. C) Entrepreneur. D) Entrepreneurship. Show Answer Correct Answer: D) Entrepreneurship. 10. The person who has sole ownership of a business. A) Proprietor. B) Chief Executive Officer. C) Stock Holder. D) Senior Partner. Show Answer Correct Answer: A) Proprietor. 11. Ingvar Kamprad started what company when he was 17? A) WaWa. B) Ikea. C) Chick Fil A. D) Audi. Show Answer Correct Answer: B) Ikea. 12. The ..... part of the business planprovides a description ofthe product or serviceoffered. A) Product andService Plan. B) Dog. C) Person. D) Car. Show Answer Correct Answer: A) Product andService Plan. 13. DETERMINATION, BRAVERY AND COURAGE A) ENTREPRENEURIAL GUTS FRAME. B) ENTREPRENEURIAL HEART FRAME. C) ENTREPRENEURIAL MIND FRAME. D) None of above. Show Answer Correct Answer: A) ENTREPRENEURIAL GUTS FRAME. 14. Colonel Sander's secret chicken recipe was rejected how many times before it was accepted by a restaurant and formed KFC? A) 9. B) 209. C) 509. D) 1009. Show Answer Correct Answer: D) 1009. 15. Which of the following is an example of a written business inquiry: A) A memo outlining an upcoming meeting agenda. B) B. An e-mail requesting vendor pricing and discounts. C) C. A form describing an employee's performance review. D) D. A report summarizing annual financial information. Show Answer Correct Answer: B) B. An e-mail requesting vendor pricing and discounts. 16. A ..... is awritten document thatdescribes all of thesteps necessary to openand operate a successfulbusiness. A) Business Plan. B) Person. C) Dumb. D) Bored. Show Answer Correct Answer: A) Business Plan. 17. Projected financialinformation is containedin the ..... partof the business plan. A) Financial Plan. B) Dog. C) Plan. D) Person. Show Answer Correct Answer: A) Financial Plan. 18. Where the supply curve and the demand curve intersect. A) Equilibrium Price. B) Equilibrium Point. C) Equilibrium Quantity. D) Supply. Show Answer Correct Answer: B) Equilibrium Point. 19. For a business to make a profit which of the following has to be true? A) Total revenues < Total expenses. B) Total revenues = Total expenses. C) Total revenues > Total expenses. D) None of above. Show Answer Correct Answer: C) Total revenues > Total expenses. 20. A true entrepreneur doesn't ask questions about whether or not they'll succeed-they truly believe they will. A) Creative. B) Hardworking. C) Perseverance. D) RiskTAker. Show Answer Correct Answer: D) RiskTAker. ← PreviousNext →Related QuizzesEntrepreneurship QuizzesEntrepreneurs Quiz 1Entrepreneurs Quiz 2Entrepreneurs Quiz 3Entrepreneurs Quiz 4Entrepreneurs Quiz 5Entrepreneurs Quiz 6Entrepreneurs Quiz 7Entrepreneurs Quiz 8Entrepreneurs Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books