1.
For a software development company, the cost of electricity that increases with more computers running is an example of a:
A
Fixed Cost
B
Variable Cost
C
Sunk Cost
D
Startup Cost
2.
The costs that change directly with the amount of a product being made are known as:
A
Fixed Costs
B
Sunk Costs
C
Total Costs
D
Variable Costs
3.
Which plan estimates profit and loss?
A
Marketing plan
B
Production plan
C
Financial plan
D
Risk plan
4.
Which term best describes the process of designing, launching, and running a new business venture?
A
Management
B
Marketing
C
Entrepreneurship
D
Accounting
5.
The part of the business plan that identifies the target customers, market size, and competitors is the:
A
Financial Plan
B
Operations Plan
C
Market Analysis
D
Executive Summary
6.
Which section explains business goals?
A
Financial plan
B
Marketing plan
C
Objectives
D
Cost section
7.
Which document is useful for investors?
A
Homework
B
Business plan
C
Notebook
D
Diary
8.
In the context of production costs, how is the Total Cost calculated?
A
Fixed Costs - Variable Costs
B
Fixed Costs × Variable Costs
C
Fixed Costs + Variable Costs
D
Fixed Costs / Variable Costs
9.
Who benefits from a business plan?
A
Only customers
B
Only workers
C
Entrepreneur and investors
D
Only teachers
10.
Which document shows future business direction?
A
Textbook
B
Business plan
C
Story book
D
Newspaper
11.
Which of the following is an example of a fixed cost for a software development company?
A
Electricity bill based on usage
B
Monthly rent for the office space
C
Cost of CDs for software distribution
D
Sales commissions
12.
Market analysis helps to understand?
A
Teachers
B
Customers
C
Students
D
Friends
13.
Which section of a business plan provides a short, compelling overview of the entire plan?
A
Financial Plan
B
Executive Summary
C
Appendix
D
Market Analysis
14.
How is the Total Cost of Production calculated?
A
Fixed Costs - Variable Costs
B
Revenue - Profit
C
Fixed Costs × Number of Units
D
Fixed Costs + Variable Costs
15.
Which of the following is part of production cost?
A
Profit
B
Advertisement idea
C
Machinery cost
D
Business name
16.
A company's purpose, objectives, and how it plans to achieve them are formally stated in its:
A
Mission Statement
B
Vision Statement
C
Financial Statement
D
Marketing Slogan
17.
Which skill is needed to devise a business plan?
A
Planning
B
Sleeping
C
Avoiding work
D
Complaining
18.
Which of the following is a key characteristic often associated with successful entrepreneurs?
A
Risk aversion
B
Innovation and creativity
C
Preference for a fixed schedule
D
Dependence on others for decisions
19.
What is cost of production?
A
Profit of business
B
Money spent to produce goods
C
Selling price
D
Business name
20.
Which of the following is a potential disadvantage of entrepreneurship?
A
Long working hours and high stress levels
B
Limited opportunity for innovation
C
Lack of decision-making authority
D
Low potential for financial gain
21.
Entrepreneurship encourages students to?
A
Rely only on jobs
B
Become job creators
C
Avoid business
D
Stop learning
22.
Which skill helps an entrepreneur to succeed?
A
Poor planning
B
Decision making
C
Avoiding work
D
Ignoring customers
23.
Which cost is paid monthly?
A
Raw material
B
Rent
C
Packaging
D
Fuel per unit
24.
The point at which a business's total revenues equal its total costs is called the:
A
Profit Point
B
Saturation Point
C
Loss Point
D
Break-even Point
25.
Which cost remains the same even if production stops?
A
Variable cost
B
Selling cost
C
Fixed cost
D
Material cost
26.
Business plan is a?
A
Story book
B
Written document of business ideas
C
Computer program
D
Advertisement poster
27.
Costs that change directly with the level of production, such as raw materials, are known as:
A
Fixed Costs
B
Total Costs
C
Variable Costs
D
Sunk Costs
28.
Transport charges are included in?
A
Production cost
B
Profit
C
Sales only
D
No cost
29.
The part of the business plan that identifies your target customers and competitors is the:
A
Market Analysis
B
Operational Plan
C
Management Team Description
D
Financial Projections
30.
An entrepreneur mainly takes which type of risk?
A
Health risk
B
Financial risk
C
Sports risk
D
Travel risk