BCom Third Year (Sem 5 & 6) Entrepreneurship Development – Daily Revision MCQ (English Medium)
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Which thinker described the entrepreneur mainly as an innovator who introduces 'new combinations'?
Chapter 1: Entrepreneur: Concept, Types and Qualities
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Answer: C. Joseph Schumpeter
Schumpeter saw the entrepreneur as an innovator bringing new products, methods, markets, raw-material sources or organisation.In Clarence Danhof's classification, entrepreneurs who are very cautious and adopt a change only when not doing so would clearly cause a loss are called what?
Chapter 1: Entrepreneur: Concept, Types and Qualities
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Answer: D. Fabian entrepreneurs
Fabian entrepreneurs are sceptical and change only when forced; drones refuse to change even at a loss.In a SWOT analysis of an entrepreneur's business, which two factors are external?
Chapter 2: Entrepreneurial Environment
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Answer: A. Opportunities and threats
Strengths and weaknesses are internal to the firm; opportunities and threats come from the external environment.Which group technique generates a large number of ideas quickly, with criticism of ideas held back during the session?
Chapter 3: Idea Generation and Business Plan
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Answer: B. Brainstorming
In brainstorming members freely suggest as many ideas as possible and no idea is criticised until later evaluation.A study of whether the required technology, machinery, raw materials and site are available for a project is called what?
Chapter 4: Project Report and Feasibility Study
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Answer: C. Technical feasibility
Technical feasibility checks whether the project can actually be built and run with the available technology, machines, materials and location.In which year was the Micro, Small and Medium Enterprises Development (MSMED) Act passed in India?
Chapter 5: MSMEs and Startup India
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Answer: B. 2006
The MSMED Act, 2006 gave the first legal framework defining micro, small and medium enterprises.In which year was the Government of India's 'Startup India' initiative launched?
Chapter 5: MSMEs and Startup India
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Answer: D. 2016
Startup India was launched in January 2016 to support new businesses with easier compliance, funding and tax benefits.Finance provided to new, high-risk but high-growth ventures in exchange for a share in ownership (equity) is called what?
Chapter 6: Sources of Finance for Entrepreneurs
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Answer: A. Venture capital
Venture capitalists invest equity in risky new firms with high growth potential and share in their future gains.Which institution is the principal financial institution for the promotion, financing and development of the MSME sector in India?
Chapter 7: Government Schemes and Support Institutions
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Answer: B. SIDBI
SIDBI (Small Industries Development Bank of India), set up in 1990, is the apex institution for the MSME sector.Which institution launched the SHG–Bank Linkage Programme that helps rural women's self-help groups get bank loans?
Chapter 8: Women and Rural Entrepreneurship
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Answer: A. NABARD
NABARD started the SHG–Bank Linkage Programme in 1992, linking self-help groups of rural women with banks for credit.
BCom Third Year (Sem 5 & 6): MCQ in other subjects
All questions are written by PadhaiNotes in our own words from the common syllabus of Maharashtra universities (NEP). Your own university's syllabus may differ a little.