Chapter 6 ENTREPRENEURIAL SKILLS MCQs 14 min Score: 0 Attempted: 0/14 Subscribe 1. . All those activities whose purpose is to earn profit are called: (A) Commerce (B) Education (C) Business (D) ManagementShow All Answers 2. . A person who manages or controls the business to earn profit is called: (A) Entrepreneur (B) Professional (C) Laborer (D) DoctorShow All Answers 3. . The basic goal/purpose of a business is: (A) To earn profit (B) God’s consent (C) Buy/Sell goods (D) NoneShow All Answers 4. . The success of business depends upon: (A) Administrative & technical activities (B) Availability of raw material (C) Better means of transportation (D) All of theseShow All Answers 5. . To decide in advance, is called: (A) Business (B) Business risk (C) Planning (D) AllShow All Answers 6. . Objectives or goals of planning are: (A) Determination of staff (B) Determination of designation (C) Method of leading (D) All of theseShow All Answers 7. . To become a good entrepreneur, one must have: (A) Ability of planning (B) Power of decision making (C) Stability (D) All of theseShow All Answers 8. . In small business, number of employees are: (A) Less than 10 (B) More than 10 (C) 20 (D) 30Show All Answers 9. . When we perform job without planning, its results will be: (A) Effective (B) Ineffective (C) Very good (D) AllShow All Answers 10. . Loans for business can be obtained from: (A) Bank (B) Credit purchase (C) By debentures (D) AllShow All Answers 11. . Due to business risks, business goes towards: (A) Failure (B) Success (C) Profit (D) AllShow All Answers 12. . Reason(s) of business risks is/are: (A) Incapable management (B) Shortage of raw material (C) Shortage of demand (D) AllShow All Answers 13. . Methods of reducing business risks includes: (A) Reduction in losses (B) Speculation (C) Insurance (D) AllShow All Answers 14. . To select place of business, it is necessary to have: (A) Availability of raw material (B) Suitable atmosphere (C) Availability of means of transportation (D) AllShow All Answers