NOUN EExams: GST301 - Entrepreneurship Studies 1, Past Questions

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Adele
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NOUN EExams: GST301 - Entrepreneurship Studies 1, Past Questions

Postby Adele » Mon Jul 09, 2018 9:31 am

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Q1 Establishing and maintaining companies" registry and offices in all the states of the Federation is a
function of
Q2 The headquarters of the Corporate Affairs Commission is based in
Q3 Ensuring that the use of narcotic drugs and psychotropic substances are limited to medical and
scientific purpose is a function of
Q4 The environment prescribes acceptable principles and guides in business
relationship
Q5 The promotional and supportive roles of Gvernment is revenue -
Q6 An agency that is responsible for providing advice, educate to public on and against bribery and
corruption is
Q7 An agency that is concerned with the investigation of all financial crimes is
Q8 The organisation that is concerned with the registration of Business in Nigeria is
Q9 The three levels of Regulation in Nigeria are Federal, State and
Q10 The rate of interest that a bond pays to the bondholder is called the __.
Q11 An _is simply a statement that two numbers are not equal.
Q12 is the fee charged for the privilege of borrowing money.
Q13 recommended "the Creation of a Fund.
Q14 The sinking fund was first used in Great Britain in the th century.
Q15 Cash Flow from financing activities includes and buying back capital stock.
Q16 An entrepreneur must be open to criticism and be ready to .
Q17 Take away and have organization anxiety
Q18 The scanning of the so as to identify the favourable and unfavourable
conditions therein is swot analysis
Q19 One of the benefits of is It justifies your plan and actions
Q20 The document that states all the terms of partnership is known as

Q21 Partnership formation requires minimum and maximum number of patners respectively
Q22 one of the disadvantages of sole proprietorship
Q23 The minimum number required to start a sole proprietorship
Q24 An advantage of sole proprietorship is
Q25 The entrepreneur can assess the internal environment of the business by critically looking at
Q26 The entrepreneur can assess the internal environment of business by critically looking at the
and threats.
Q27 The essence of the external environment of business is in order to
identifyopportunities and threats
Q28 _event is an event that will never happen
Q29 The entrepreneur can assess the internal environment of business by critically looking at the
opportunies and
Q30 The essence of scanning the external environment of business is in order to identify
Q31 Opportunites in the political/legal environment could be
Q32 Threats from external environmental factors can come from
Q33 Ensuring that the use of narcotic drugs and psychotropic substances are limited to medical and
scientific purpose is a function of
Q34 Establishing and maintaining companies" registry and offices in all the states of the Federation is a
function of
Q35 The headquarters of the Corporate Affairs Commission is based in
Q36 Is creative, looking to a future of greatness; it keeps the organization as
well as individual motivated even if the founders are no longer in existence
Q37 is the reason for the organization's existence, a clear description of the
activities of the organization
Q38 feature of vision is
Q39 The emergence of a mature organized and well functioning group were complex task dealt with and
membership disagreement are handled effectively is known as
Q40 The concept environment literally means the surroundings, internal, intermediate and
influences or circumstances under which someone or something exists

Q41 Business is any undertaking that deals with the production and distribution of goods and services
that needs and wants
Q42 incremental comprises relatively small modifications to pre-existing
solutions
Q43 adminstrative innovations is concerned with the novelty in , control,
techniques and organizational structure
Q44 Technological innovativeness primarily comprisesresearch and efforts
aimed at developing new products and processes
Q45 Lack of action plan can cause
Q46 Lack of resources can cause in an organization
Q47 A study can be defined as a controlled process for identifying problems and
opportunities, determining objectives, describing situations, defining successful outcomes, and assessing
the range of costs and benefits associated with several alternatives for solving a problem (Thompson,
2005)
Q48 Components of vision according to Collins and Porras, (1996) can be broadly classified into two,
namely and ..................
Q49 Exchange theory is based upon outcome of interaction
Q50 theory states that persons are attracted to one another on the basis of
similar attitudes towards commonly relevant objects and goals.


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Adele
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Re: NOUN EExams: GST301 - Entrepreneurship Studies 1, Past Questions

Postby Adele » Mon Jul 09, 2018 9:32 am

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Q51 Propinquity theory states that individual affiliate with one another because of spatial and
geographical e.g. people sit together always easily form into group
Q52 Team formation or processes is made up of stages
Q53 is the process of creating team features in a group in order to make them
more effective
Q54 teams are basically created by the organization as part of the formal
organization structure
Q55 A team is composed of a manager and his or her subordinates in the
organization's formal chain and command
Q56 A is a unit of two or more people who interact and coordinate their work to
accomplish a specific goal
Q57 A form of business ownership which involves a collective ownership of a production, storage,
transportation or marketing organization is referred to as
Q58 The company can be formed by minimum of two persons and maximum of fifty persons excluding employees of both past and present
Q59 The three types of companies can be classified into three, they are limited by shares, by gurantee, and
Q60 In Nigeria, the Companies and Allied Matters Act (CAMA) of 1990 is the major law that guides the
and registration of companies in Nigeria .
Q61 is a partnership with one or more general partners and one or more limited
partners
Q62 There are types of partnership on the basis of liability of partners
Q63 analysis entails business Strength and Weaknesses and its Opportunities
and Threats
Q64 Economic factors deals with the macro level factors relating to means of production and
distribution
Q65 refers to the gift of nature or natural resources of the nation that serve as
input for the business
Q66 are those firms that market products that are similar to, or can be
substituted for a business' product(s) in the same geographical area
Q67 The concept literally means the surroundings, internal, intermediate and
external objects, influences or circumstances under which someone or something exists
Q68 is any undertaking that deals with the production and distribution of goods
and services that satisfy human needs and wants
Q69 comprises relatively small modifications to pre-existing solutions
Q70 is concerned with the novelty in management systems, control, techniques
and organizational structure
Q71 Technological innovativeness primarily comprises and engineering efforts
aimed at developing new products and processes
Q72 is conceptualized as the belief on one's ability to muster and implement the
necessary personal resources , skills, and competencies to attain a certain level of achievement on a given
task
Q73 The extent to which an individual believes in fate and their ability control fate is called
Q74 is the father of Need for Achievement theory
Q75 is the driving force within individuals that propel them to action



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Adele
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Re: NOUN EExams: GST301 - Entrepreneurship Studies 1, Past Questions

Postby Adele » Mon Jul 09, 2018 9:37 am

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Q76 All of the following are the disadvantages of sole proprietorship except


Easy to raise capital

Q77 One of the following is not an advantage of sole proprietorship

unlimited liability

Q78 The entrepreneur can assess the internal environment of the business by critically looking at

5s

Q79 The entrepreneur can assess the internal environment of business by critically looking at the opportunies and threats.

strengths and weakn esses


Q80 The essence of scanning the external environment of business is in order to identify


opportunities and threats

Q81 Opportunites in the political/legal environment could be -
favourable government policies
Tax holidays
Great market demand
***a and b


Q82 Threats from external environmental factors can come from:
Direct Completion
Indirect competitor s
Consumers
***All of the a bove


Q83 Entrepreneur can assess the external environment of the business by critically looking at the

opportunities and threats

Q84 The support systems that facilitate entrepreneurship process listed here are ………………

Four
Q85 The environment in the borderline between internal and external environment is

Interm ediate

Q86 The environment that recognizes the customs, traditions and value of the community is known as

Socio-cultural

Q87 A written business plan should have all the following except ……………...

liquidation plan

Q88 A plan must be ……………………

Explicit

Q89 The need for a business plan includes all except:

Increasing your labour force

Q90 Ensuring that the use of narcotic drugs and psychotropic substances are limited to medical and scientific purpose is a function of …………………………..

EFCC

Q91 The headquarters of the Corporate Affairs Commission is based in?

Abuja the Federal Capital Territory

Q92 The …………………. Was established by the Companies and Allied Matters Act (CAMA) 1990 as a
corporate body with perpetual succession and a common seal.
Corporate Affairs Commission
Standards Organisation of Nige ria
National Agency for Food and Dru g Administration Control
***none of the above


Q93 The …………… environment prescribes acceptable principles and guides in business relationship.

regulatory /legal

Q94 One of the following is not the promotional / supportive roles of Gvernment

Tax evasion

Q95 An agency that is responsible for providing advice, educate to public on and against bribery and corruption is

ICPC

Q96 An agency that is concerned with the investigation of all financial crimes is

EFCC

Q97 The organisation that is concerned with the registration of Business in Nigeria is

Corporate Affairs Commission

Q98 Take away skills and have …………………………

organization anxiet y

Q99 If vision is taken away, an organization can set into …………….

confusion

Q100 ____________rule describes how personal opinion evolves with experience

bayes


Q101 The uniqueness of private limited company is that the investors have …………………..

Restrictions on the transfer of shares


Q102 Which of the following question will be answered in a business plan under organisation?

Who will manage the busines s?


Q103 The document that states all the terms of partnership is known as
Partnership agreement
article of partnership
article of association
***a and b


Q104 The general partners have ………………..
limited liability
Unlimited liabil ity
participate in the d ay to day running of the business
***b and c


Q105 Effective teams must possess the following characteristics except :

mistrust among team mem bers

Q106 Take away ______and have organization anxiety

skills

Q107 Relevant issues in team building include all except :

Independence

Q108 One of the major documents of incorporation is …………………..

memorandum of assoc iation

Q109 Core value is the extent of …………………………. The organization is ready to maintain.

integrity

Q110 Core value of an organization is also called …………………………………………….

core tenet

Q111 The three levels of Regulation in Nigeria are …………………….

Federal, State and Local government

Q112 Lack of action plan can cause ………………….

false star t

Q113 Lack of resources can cause …………………. In an organization

Frustration


Q114 An ___________ is a rule or principle that is, generally, believed to be true.

axiom

Q115 ………………….. Is creative, looking to a future of greatness; it keeps the organization as well as individual motivated even if the founders are no longer in existence.

envisio n future

Q116 ………………….. Is the reason for the organization's existence, a clear description of the activities of the organization.

core purpose

Q117 A team with different levels of hierarchy can be regarded as:

Vertical team

Q118 The stage at which group tends to tackle obstacles and conflicts is known as ……………

storming stage

Q119 The theory that stated that the more activities persons share, the more numerous will be their interaction and the stronger will be their sentiments is:

George Hanma us theory

Q120 ................... theory states that persons are attracted to one another on the basis of similar attitudes towards commonly relevant objects and goals.

records





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Adele
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Re: NOUN EExams: GST301 - Entrepreneurship Studies 1, Past Questions

Postby Adele » Mon Jul 09, 2018 9:40 am

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Q121 A form of business ownership which involves a collective ownership of a production, storage, transportation or marketing organization is referred to as ......................

Co-operative

Q122 The .............. company can be formed by minimum of two persons and maximum of fifty persons excluding employees of both past and present

Private liability

Q123 Business is any undertaking that deals with the production and distribution of goods and services that _______ needs and wants

satisfy human

Q124 incremental .......................... comprises relatively small modifications to pre-existing

innovation

Q125 adminstrative innovations is concerned with the novelty in _________________, control, techniques and organizational structure

management systems

Q126 Technological innovativeness primarily comprisesresearch and ......... efforts aimed at developing new products and processes

Engineering

Q127 Lack of action plan can cause ………………….

false start

Q128 Lack of resources can cause …………………. In an organization

frustration

Q129 A ................................. study can be defined as a controlled process for identifying problems and opportunities, determining objectives, describing situations, defining successful outcomes, and assessing
the range of costs and benefits associated with several alternatives for solving a problem (Thompson, 2005).

Bu siness feasibility

Q130 Components of vision according to Collins and Porras, (1996) can be broadly classified into two, namely ................ and ..................
and Envisioned future

Q131 Exchange theory is based upon ............................... outcome of interaction.

reward-cost

Q132 Propinquity theory states that individual affiliate with one another because of spatial and geographical ............... e.g. people sit together always easily form into group.

Proximity

Q133 An entrepreneur must be open to criticism and be ready to ______.

adjust

Q134 The scanning of the___________ so as to identify the favourable and unfavourable conditions herein is swot analysis

business environmen t

Q135 One of the benefits of _______ is It justifies your plan and actions

planning

Q136 Partnership formation requires minimum and maximum number of patners respectively

2 and 20

Q137 The minimum number required to start a sole proprietorship

One

Q138 the body of regulations and laws can be classified under the

Political/Legal envioronment

Q139 The scanning of the business environment so as to identify the favourable and unfavourable conditions therein is ……………………………

SWOT analysis

Q140 The type of business you are planning should be stated under -

Description of the business

Q141 Establishing and maintaining companies" registry and offices in all the states of the Federation is a function of ………………………

National Council

Q142 One of the benefits of planning is ……………

It justifies your plan and actions

Q143 An entrepreneur must be open to ……………. And be ready to adjust.

criticism

Q144 which of the following is not a feature of vision ?

short

Q145 The emergence of a mature organized and well functioning group were complex task dealt with and membership disagreement are handled effectively is known as :

Total Integration stage

Q146 ………………. Is described as the oneness of the group member :

Cohesiveness of group

Q147 When a group is created by formal authority of an organization to transform resources inputs into product outputs, such group is known as :

Work group

Q148 Two or more people who interact and coordinate their work to accomplish a specific goal can be regarded as :

A team

Q149 A formal team can be found in ………………….

officially designed organizational structure

Q150 One of the differences between the public and private limited companies is …………………..

the minimum number of owners





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