Entrepreneurship and Innovation

71

Which is a content of Business Law?

A) Indian Contract Act, 1872 B) The Indian Partnership Act, 1932 C) The Sale of Goods Act, 1930 D) All of the above

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Answer & Solution

Answer: Option D

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72

Internal environment includes

A) Competitors B) Customers C) Raw Material Suppliers D) All of the above

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Answer & Solution

Answer: Option D

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73

Which is the type of patent?

A) Plant patents covering various forms of life and genetically engineered organisms B) Design patents covering new and original ornamental designs for manufactured products C) Utility patents for new articles, processes, machines and techniques D) All of the above

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Answer & Solution

Answer: Option D

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74

The decision to start a new business is taken when one perceives that forming a new business is

A) Possible B) Desirable C) Accurate D) Both A and B

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Answer & Solution

Answer: Option D

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75

Which two work environments should be good for spawning the new enterprises?

A) Finance and marketing B) Finance and R & D C) Marketing and R & D D) Marketing and IT

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Answer & Solution

Answer: Option B

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76

Which one of the following is not true about male entrepreneurs?

A) Males often have investors, bank loans or personal loans in addition to personal funds B) Males often have more experience in manufacturing finance, or technical areas C) Men are often more confident and less flexible and tolerant D) Men usually list outside advisors as the least important supporters

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Answer & Solution

Answer: Option D

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77

Match the items of List-II with the items of List-I.

List-I	List-II
a. Entrepreneurship is essentially a creative activity	1. Fransis A. Walker
b. An entrepreneur is an organiser and coordinator of various factors of production	2. Peter F. Drucker
c. An entrepreneur is one who always searches for change, responds to it, and exploits it as an opportunity	3. Joseph Schumpeter

A) a-3, b-1, c-2 B) a-3, b-2, c-1 C) a-2, b-1, c-3 D) a-2, b-3, c-1

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Answer & Solution

Answer: Option A

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78

Match the following

List-I (Thinkers)	List-II (Books)
a. Baumol, W. J. Litan, R. E. Schramm	1. Entrepreneurship in Business Enterprise
b. Peter F. Drucker	2. Entrepreneurial Management
c. Calvin	3. Good Capitalism
d. Pinchot G.	4. Intrapreneuring

A) a-1, b-2, c-3, d-4 B) a-1, b-3, c-2, d-4 C) a-3, b-1, c-2, d-4 D) a-3, b-4, c-2, d-1

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Answer & Solution

Answer: Option C

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79

LLC is more flexible than

A) S. Corporation B) Limited Partnership C) Sole Proprietor D) All of the above

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Answer & Solution

Answer: Option D

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80

In House Research' project was promoted by

A) All India Handicrafts Board B) Khadi and Village Industries Commission C) SISI D) RBI

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Answer & Solution

Answer: Option B

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