MGT602 Quiz-2 by Vu Topper RM

MGT602-Entrepreneurship
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By Vu Topper RM
Rizwan Manzoor
@vutopperrm Vu Topper RM
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Question No:1 (Marks:1) Vu-Topper RM
Which of the following statement is most true regarding a business plan?
A. Business idea and business plan are same components
B. Business idea precedes business plan
C. Business plan precedes business idea
D. Business idea is irrelevant to a business plan

A well written business plan leads to:
A. Refinement of a business output
B. Generation of a business idea
C. Measurement of a business performance
D. Effective initiation of a business

Short-term incentives to encourage the purchase or sale of a product or
service is called:
A. Advertising
B. Personal selling
C. Public relations
D. Sales promotion

A complex business is likely to have a very short business plan.
A. True
B. False

Business idea is about concept of a business.
A. True
B. False

Appendix holds the supporting documents for the actual business plan.
A. True
B. False

Product value and packaging-related attributes are best discussed in the
“Need” section of an NABC framework.
A. False
B. True

Nature of the business competition decides the length of a business plan.
A. True
B. False

Consumer products are offered to firms for further processing or for use
in conducting the business.
A. True
B. False

Business idea then business plan then business practice is the right
sequence.
A. True
B. False

Appendix is not a glimpse of the whole business plan document.
A. True
B. False

Business plan and business idea are different to each other.
A. True
B. False

Business plan tells us details about planning a business.
A. True
B. False

Business plan and business idea are same.
A. True
B. False

Business plan then business idea then business practice is the correct
sequence.
A. True
B. False

Business plan then business idea then business practice is the wrong
sequence.
A. True
B. False

Which of the following factors directly relate to the length of a business
plan?
A. Number of employees
B. Complexity of the business
C. Amount of the investment

D. Number of customers

Which of the following questions is directly answered in the Need
section of an NABC framework?
A. Who are the suppliers of the raw material being involved?
B. What technology does the company need to prepare the prototype?
C. Does the target market potentially meet the investment
opportunity?
D. Which are the competing brands in the market?

Companies extend a current brand name to new or modified products in
a new category is called Brand extension.
A. True
B. False

The term “Backbone of a business startup” is entitled to a:
A. Business outcome
B. Business plan
C. Business concept
D. Business idea

A. Who are the suppliers of the raw materials involved?
B. What is the need?
C. What technology does the company need to prepare the prototype?
D. Which are the competing brands in the market?

The information about the customers' demographics is an attribute of the
A. True
B. False

Which of the following sections of an NABC framework features the
decision about the selection of media type for the marketing campaign of
the business?
A. Benefits
B. Need
C. Approach
D. Competition

Which of the following section of a business plan is a glimpse of the
whole document?
A. Appendix
B. Table of contents
C. Management plan
D. Executive Summary
People who eat home grown vegetables and fruits show inclination
towards which of the following current trends?
A. Green trend
B. Organic orientation trend
C. Fitness and health trend
D. Clean energy trend
Which of the following section of a business plan holds the supporting

documents for the actual business plan?
A. Executive Summary

B. Appendix
C. Management plan
D. Table of contents
Demography means the statistical structure of populations.

True
False
Which of the following is NOT the quality of a good opportunity?

A. Timeliness
B. Innovativeness
C. Durability
D. Attractiveness
The length of a business plan is dependent on:

A. Number of customers
B. Amount of the investment
C. Number of employees
D. Nature of business competition
Which of the following is the most underutilized source of information

and idea generation?
A. Experts
B. Libraries
C. Internet
D. Incubation centers
Entrepreneurs play safe by picking an existing product about which they

are passionate and build a business around that model.
True
False

The selection of digital media as a tool for marketing campaigns is a
prime attribute of the “Approach” section of an NABC framework.
True
False
In ________________, demand and supply regulates the market instead

of the government.
A. Free market system
B. Command economic system
C. Hybrid economic system
D. Mixed economic system
Business plan provides details about:

A. Demerits of a business
B. Planning of a business
C. Concept of a business
D. Merits of a business
Command economic system is a system controlled and directed by a

central authority which is usually the elite class of the relative country.
True
False
Amount of the investment decides the length of a business plan.

True
False
An entrepreneur’s traits of leadership and networking help him at which

stage of entrepreneurial process?
A. Sustainability and growth
B. Production and operations
C. Venture development
D. Idea generation

Which of the following is NOT the technique of idea generation?
A. Problem inventory analysis
B. Brain storming
C. Market research
D. Mind mapping
A scientific business plan covering all the strategic components is

termed as:
A. Skeleton business plan
B. Informal business plan
C. Formal business plan
D. Major business plan
Which of the following section of a business plan is a guide to explore

the whole document?
A. Appendix
B. Table of Contents
C. Management plan
D. Executive Summary

A. Who are the suppliers of the raw material being involved?
B. What are marketing channels being utilized to market the product?
C. Which are the competing brands in the market?
D. Is it sufficient enough to be a potential investment
opportunity?
Business plan tells us about the outcome of a business activity.

True
False

An entrepreneur’s traits of __________________ help him in venture
development.
A. Determination
B. Learning from trial and error
C. Dream, desire, and creativity
D. Knowledge and inspiration
Incubation centers can provide the potential entrepreneur the

information related to:
A. In demand product or service
B. The industry trends
C. Currently popular ideas
D. All of the given options are correc
Business plan precedes a business idea.

True
False
Companies practicing the reduced use of plastic are following which of

the following trends?
A. Fitness and health trend
B. Clean energy trend
C. Green trend
D. Organic orientation trend
Potential investor is not a beneficiary to a business plan document.

True
False
Which of the following age group of people is social media lover?

A. Generation X
B. Baby boomers
C. Millennial

D. None of the given options is correct
The information about the competitors’ sourcing is an attribute of the

True
False
Reverse brain storming is also called brainwriting.

True
False
In ________________________, an entrepreneur sees the problem or

gap and an opportunity to create a business and fills the gap.
Reload Math Equations
A. Joint ventures
B. Externally stimulated ventures
C. Internally stimulated ventures
D. Concept based business
Executive summary is a glimpse of the whole business plan document.

True
False
When the saturation point comes and market matures, the window of
opportunity opens.
True
False

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Question No:2 (Marks:1) Vu-Topper RM

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Question No:21 (Marks:1) Vu-Topper RM

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Question No:23 (Marks:1) Vu-Topper RM

Question No:24 (Marks:1) Vu-Topper RM

Which of the following section of a business plan holds the supporting

For More Help Contact What’s app 03224021365

Demography means the statistical structure of populations.

Which of the following is NOT the quality of a good opportunity?

The length of a business plan is dependent on:

Which of the following is the most underutilized source of information

Entrepreneurs play safe by picking an existing product about which they

For More Help Contact What’s app 03224021365

In ________________, demand and supply regulates the market instead

Business plan provides details about:

Command economic system is a system controlled and directed by a

Amount of the investment decides the length of a business plan.

An entrepreneur’s traits of leadership and networking help him at which

For More Help Contact What’s app 03224021365

A scientific business plan covering all the strategic components is

Which of the following section of a business plan is a guide to explore

Which of the following questions is directly answered in the Need

Business plan tells us about the outcome of a business activity.

For More Help Contact What’s app 03224021365

Incubation centers can provide the potential entrepreneur the

Business plan precedes a business idea.

Companies practicing the reduced use of plastic are following which of

Potential investor is not a beneficiary to a business plan document.

Which of the following age group of people is social media lover?

For More Help Contact What’s app 03224021365

The information about the competitors’ sourcing is an attribute of the

Reverse brain storming is also called brainwriting.

In ________________________, an entrepreneur sees the problem or

Executive summary is a glimpse of the whole business plan document.

For More Help Contact What’s app 03224021365

For More Help Contact What’s app 03224021365

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