This quiz works best with JavaScript enabled. Home > Entrepreneurship > General > Entrepreneurs – Quiz 28 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Entrepreneurs Quiz 28 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which is NOT a business expense entrepreneurs face when starting a business? A) Payroll. B) Rent. C) Equipment cost. D) Profit. Show Answer Correct Answer: D) Profit. 2. Challenges of Entrepreneurship A) Getting funds to start the business. B) Being fully responsible for the business. C) Income risk. D) D. All of the above. Show Answer Correct Answer: D) D. All of the above. 3. A ..... ..... is a risk of business as it can lead to less customers, which means less income and profit. A) Poor reputation. B) Good reputation. C) Commercial risk. D) Change in house prices. Show Answer Correct Answer: A) Poor reputation. 4. Which title best represents the concept of entrepreneurism? A) I Was Born this Way. B) I Could have been Somebody. C) To Dream the Impossible Dream. D) There's No Stopping Me Now. Show Answer Correct Answer: D) There's No Stopping Me Now. 5. The POLICITCAL factor that impacts entrepreneurship can include all of the following except: A) Laws. B) Education. C) Elected officials. D) Tarriffs. Show Answer Correct Answer: B) Education. 6. Refers to cash flow that varies according to the time of year A) Cyclical. B) Cash flow. C) Fiscal year. D) Profit. Show Answer Correct Answer: A) Cyclical. 7. Starting and owning a person's own business A) Corporation. B) Entrepreneurship. C) Sole proprietorship. D) Partnership. Show Answer Correct Answer: B) Entrepreneurship. 8. The economics of one unit is a calculation of A) The equilibrium quantity on a supply curve. B) How many items an entrepreneur has for sale. C) The profit or loss associated with a unit of sale. D) Foreign demand for an entrepreneur's product. Show Answer Correct Answer: C) The profit or loss associated with a unit of sale. 9. Environmental protection and the shift towards healthier lifestyles are examples of A) Problems. B) Obstacles. C) Solutions. D) Trends. Show Answer Correct Answer: D) Trends. 10. MSME stands for A) Micro, scale, and medium Enterprise. B) Macro, small and medium Enterprise. C) Micro, small and medium Enterprise. D) Minor, small and medium Enterprise. Show Answer Correct Answer: C) Micro, small and medium Enterprise. 11. The individual who started McDonald's. A) Steve Jobs. B) Bill Gates. C) Dave Thomas. D) Ray Kroc. Show Answer Correct Answer: D) Ray Kroc. 12. Mark Zuckerberg was 22 years old when he created A) Google. B) Myspace. C) Pandora. D) Facebook. Show Answer Correct Answer: D) Facebook. 13. Who founded The Body Shop? A) Kate Beckinsdale. B) Anita Roddick. C) Karen Brady. D) Beyonce. Show Answer Correct Answer: B) Anita Roddick. 14. French designer and costume maker, instrumental in defining feminine style and dress during the 20th Century. A) Giorgio Armani. B) Linda Evangelista. C) Gianni Versace. D) Coco Chanel. Show Answer Correct Answer: D) Coco Chanel. 15. Which of the following is NOT a core characteristic of most entrepreneurs? A) Risk-taker. B) Selfish. C) Confident. D) Independent. Show Answer Correct Answer: B) Selfish. 16. Which of the following challenges poses a business risk to entrepreneurs who want to conduct international trade? A) Tariffs that must be paid to import goods. B) Cultural differences between nations. C) Trade barriers. D) All of the above. Show Answer Correct Answer: D) All of the above. 17. Who founded Hershey? A) Maxwell Hershey. B) Milton Hershey. C) Milford Hershey. D) Millicent Hershey. Show Answer Correct Answer: B) Milton Hershey. 18. Business entity that blends elements of partnership and corporate structures. A) Proprietorship. B) Limited liability company. C) Partnership. D) Corporation. Show Answer Correct Answer: B) Limited liability company. 19. Presenting yourself well in the way you dress, communicate, and represent your business is known as: A) Negotiating. B) Professionalism. C) Encouraging. D) Work ethic. Show Answer Correct Answer: B) Professionalism. 20. What is the LAST step to be taken by an entrepreneur in selecting a business opportunity? A) Preparing a business plan. B) Screening of business opportunity. C) Evaluating self and the community. D) Identifying the needs and wants of customers. Show Answer Correct Answer: B) Screening of business opportunity. ← 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