NOUN TMA Questions & Solutions: ENT414 - Venture Creation and Growth

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NOUN TMA Questions & Solutions: ENT414 - Venture Creation and Growth

Postby Richtubor » Fri Nov 08, 2019 3:15 am

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1 ________ is very expensive and costly but it is still far cheaper than ignorance

Educa tion

2 ________are the circumstances and possessions by a prospective entrepreneur which are likely to enhance or increase his chances or likelihood of success in the business.

Strength

3 _________are the assets and financial resources that form raw materials for the production of goods and services.

Resource s

4 ________ deals essentially with chain of command-flow of communication from top to the bottom.
Culture

Structur e

5 _______is defined as a way of life of the people.


Culture

6 Richard Cantillion, an Irish man living in France, in _____ applied the word entrepreneur to business. Cantillion said that an entrepreneur is a person who bears risk.

1755

7 _______ is the peak period in the product life cycle.

Maturity stage

8 The_________ is the second level of grown and is higher than the incubation stage of the product life cycle, because it has moved from hidden stage to open market where it is being put to test, and ̳acceptance􀬛??.

Acceptance stage

9 _______ is the introductory or experimental period of the business.

Business Incubation Stage

10 _________ refers to the uality and number of amusement parks, recreational facilities, national museums, football stadium, and provision of social amenities.

Social Growth

11 _________ refers to continuous increase in the economic life of the members of an organization or a nation.

Economic Growth

12 _______ is the process of experiencing increase in the financial fortunes of an organization.

Financial Growth

13 ________ can grow to a multi-national, and have branches or (incorporated) in many nations.

Public Limited Liability Company

14 ________can grow into public limited liability company, and enjoy the benefits of not only limited liability and increased capital, but of being uoted on the stock exchange and offering shares to the public.

Private Lim ited Liability Company

15 ________can grow into private limited liability company, and have the benefit of limited/sharing risks instead of unlimited/unshared risks.

Partnership

16 _________ can grow into partnership or private limited liability company.

Co-operative society

17 _______ can grow into co-operative society or partnership, and have the benefit of raising more funds, through co-operators and partners.

All of the abov e

18 The following are the forms of business growth strategies EXCEPT

Internalgrowthstrategies
External growth strategie s
Non-growth ( stability /rap id) growth strategies
*** All of the above

19 The following are the ways which he can start a business EXCEPT

Inheritance
By starting a new venture
By buying an existing bus iness
*** All of the above

20 On registering or incorporating a business with _____, the entrepreneur is now ready to start his business legally.

CAC




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Last edited by Richtubor on Fri Nov 08, 2019 3:28 am, edited 1 time in total.



Richtubor
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Re: NOUN TMA Questions & Solutions: ENT414 - Venture Creation and Growth

Postby Richtubor » Fri Nov 08, 2019 3:18 am

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21 Cottage small business is one which total cost, including working capital, cost of land, etc, is not more than one million Naira (N1,000,000.00), employing up to _____ persons.

10

22 Moderate small business is one which has a capital outlay of being N7 to 40 million employing a labour force of between 11 to ______ persons

35

23 Medium scale business is said to having a total cost of over N40m not exceeding N150m, with a labour force of _____ to 100.

35

24 The sum total of these small business efforts goes to add to the nation's ______

GNP

25 The Netherlands Centre for Management puts its ceiling as _____ persons for handicraft and cottage small industries, 10-99 persons for medium business.

10
26 The British Board of Trade views a small business as one having not more than 200 employees.

200

27 The Nigerian Promotion Decree of _______, classified the nature of business into lower priority and higher priority ones to distinguish big from small business.

1972

28 In the case of entrepreneurship, the owner of a business is not sure when he will get his profits or gains from his business operations.

Yes

29 In Nigeria, entrepreneurship is undertaken by _____ untrained persons to supply some basic products such as implements, potteries and other traditional products.

Sma ll

30 Entrepreneurship can be seen precisely as decision- making or the application of entrepreneurial skills, expertise or latent to business decisions.

Yes

31 The following are the responsibilities of an entrepreneur EXCEPT

Risk and uncertainty bearing
Making decisions on what go ods or services will be produced and how the factors of production will be combined for the purpose
All of the above
*** None of the abov e

32 According to Alan Golpin: Dictionary of Economic Terms" "an entrepreneur is a business organizer whose aim is _______.

Profi t

33 The word "________" refers to a person him or her who undertakes to run a business enterprise on his own and who is ready to assume responsibility for success or failure.

Entrepreneur

34 Limited earnings is another disadvantage associated with salaried employment.

Yes

35 A worker can receive rewards for hard-work in the form of salary increases, bonus payment, overtime payment and amenities or the provision of health facilities.

Yes

36 ________workers are retired when their time reaches or when for one reason or the other an employee is forced by an executive to retire.

Retirem ent

37 ________movement from one place of work to another or one job to another.

Transfer

38 ________ refers to a system of junior and senior staff relationship.

Subor dination

39 _________ ensures present and future securities in terms of pensions, super- numerations as well as insurance cover or premium as when the employees are insured by the company.

Salarie d employment

40 _________ultimate choice between salaried employment and entrepreneurship or owners of business.

Prospective managers
Graduates face
*** All of the abov e
None of the abov e



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Re: NOUN TMA Questions & Solutions: ENT414 - Venture Creation and Growth

Postby Richtubor » Fri Nov 08, 2019 3:21 am

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41 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛. is used to record the particulars of goods bought on credit and meant for resales.

Purchases Journal

42 􀬛?􀬛􀬛?􀬛􀬛?􀬛.. Allows any person(s) claiming to be the proprietor of a trademark may by himself or his agent apply to the registrar for the registration thereof.

Patents and Designs Decree

43 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛. is a total system of business activities designed to plan, price, promote and distribute wants satisfying goods and services to present and potential
customers

Marketing

44 Production Records includes which of the following?

finished goods sen t to the warehouse

45 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛. contains records of amounts due to be received from debtors.

Account R eceivable

46 the purpose of promotion is to be 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛..

informe d

47 which of the following is not a marketing mix variable?

packaging

48 Corporations are recommended for entrepreneurs who plan to conduct a 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛... enterprise

large-scale

49 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛. involves the merchandising function that involves the exchange process from product planning and ends up with selling

Entrepreneurial marketing

50 􀬛?􀬛􀬛?􀬛.. Concept assumes that promotional effort should be made for volume of sales.

selling concept

51 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛.Decree stipulates maximum prices for certain products and no seller can exceed the limit

Price Control

52 Laws that govern the operation of various business ventures in Nigeria includes the following except?

ownership law

53 A 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛... grants an inventor the right to exclude others from making, using, offering for sale, or selling an invention for a fixed period of time

Patents

54 Single Entry Method of Bookkeeping is also called 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛.. of bookkeeping

incomplete record metho d

55 Records are kept for the interest of 􀬛?􀬛􀬛?􀬛􀬛?􀬛. categories of users.

6

56 which of the following is not a source of financing a new business venture?

debit card

57 A 􀬛?􀬛􀬛?􀬛􀬛?􀬛. consists of two or more people who share the assets, liabilities, and profits of a business.

patnership

58 A 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛. protects a symbol, word, or design, used individually or in combination, to indicate the source of goods and to distinguish them from goods
produced by others

trademark

59 􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛􀬛?􀬛... is a method to account for assets whose value is considered to decrease over time.

Depreciation

60 which of the following is not a form of business organization?

joint ownership




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Richtubor
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Re: NOUN TMA Questions & Solutions: ENT414 - Venture Creation and Growth

Postby Richtubor » Fri Nov 08, 2019 3:24 am

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61 Many large firms have the credibility that a well-known name provides and the support of a large organization.

TRUE'

62 With careful planning, an entrepreneur can lessen the advantages of the large business vis-à-vis his operation and thereby increase his chances for success.

TRUE'

63 _______ protects a symbol, word, or design, used individually or in combination, to indicate the source of goods and to distinguish them from goods produced by others.

trade mark

64 _______ consist of knowledge that is kept secret in order to gain an advantage in business.

trade secret

65 _______ protect original creative works of authors, composers, and others.

copyright

66 Every entrepreneur should be aware of intellectual property rights in order to protect these assets in a world of global markets.

TRUE'

67 _______ property is a valuable asset for an entrepreneur.

intellect ual

68 Many entrepreneurs struggle to find the capital to start a new business.

TRUE'

69 Corporations can more easily obtain investment, raise capital by selling stock, and survive a change of ownership.

TRUE'

70 Shareholders are responsible for the debts of the corporation, unless they have personally guaranteed them.

FALSE '

71 Corporations are recommended for entrepreneurs who plan to conduct a large-scale enterprise.

TRUE'

72 Experts agree that a partnership agreement drawn up by an experienced lawyer is essential to a successful partnership

maybe

73 The largest disadvantage of any partnership is the potential for disagreements, regardless of how well or how long the partners have known each other.

TRUE'

74 In ________ all partners are liable for the acts of all other partners.

general partnership

75 There are________ main types of partnership.

2

76 _______ consists of two or more people who share the assets, liabilities, and profits of a business.

partnership

77 One important choice that new entrepreneurs have to make is whether to start a business alone or with other entrepreneurs.

TRUE'

78 Environment scanning does not give on-the-spot assessment of the immediate happenings in the environment, instead of relying on stories.

FALSE '

79 Scanning the environment is better and safer method of assessing than jumping into the business environment.

TRUE'

80 ______ can be said to be a process of visiting sites and gathering information about prospects of establishing a new business venture.

environmental scanning





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