Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Entrepreneurship and Start Up Total Number of Question: 40 Time: 41 Minutes Please check your email after completion of test for result. All the best... Name Phone No Email Area Pin Code 1. Which of the following is the best definition of entrepreneurship? Starting a business Taking risks to create new business opportunities Managing a company Expanding an existing business None 2. Which of the following is NOT a characteristic of an entrepreneur? Risk-taking Innovation Dependency Visionary thinking None 3. What is the primary objective of an entrepreneur? Job security Profit maximization and value creation Social service Government employment None 4. Which function of an entrepreneur involves identifying new business opportunities? Organizing Innovation Risk-taking Planning None 5. Which of the following is NOT a source of business opportunity? Market gaps Government regulations Customer needs Competition None 6. Which government initiative supports start-ups in India? Digital India Start-up India Skill India Make in India None 7. What is the main function of an incubator in entrepreneurship? Funding start-ups Providing resources and mentoring Selling business ideas Offering government subsidies None 8. Which of the following is a key role of venture capitalists? Providing working capital loans Investing in high-growth start-ups Controlling businesses Offering insurance policies None 9. Which of the following is NOT a type of entrepreneur? Intrapreneur Social entrepreneur Traditional entrepreneur Technopreneur None 10. Which of the following is a government scheme to promote entrepreneurship among women? MUDRA Yojana Stand-Up India Digital India Start-up India None 11. Which document outlines the goals and strategies of a start-up? Articles of Association Business Plan Income Statement Memorandum of Understanding None 12. What does SWOT analysis stand for? Strength, Weakness, Opportunities, Threats Strategy, Work, Optimization, Time Sales, Workforce, Organization, Targets Start-up, Work, Outlook, Timing None 13. Which of the following is NOT a component of a business model? Revenue Streams Customer Segments Employee Salaries Value Proposition None 14. A lean start-up focuses on: Rapid experimentation and validated learning Large-scale manufacturing Heavy initial investments Traditional business planning None 15. Which funding stage typically involves friends, family, and personal savings? Series A funding Angel investment Bootstrapping Venture capital None 16. Which financial statement shows a company’s profitability? Balance Sheet Income Statement Cash Flow Statement Statement of Equity None 17. Break-even analysis helps in determining: When a company will make profits The number of employees needed Total debt of a business The amount of taxes payable None 18. Which of the following is NOT a source of start-up funding? Angel Investors Venture Capitalists Government Grants Income Tax Refunds None 19. Which of the following financial ratios helps assess a company’s liquidity? Current Ratio Return on Investment Debt-Equity Ratio Gross Profit Margin None 20. Which tax benefits are provided under the Start-up India initiative? 80G Exemption 100% tax exemption for the first three years No GST Flat income tax rate None 21. Which of the following is NOT a common challenge faced by start-ups? Financial constraints Competition Unlimited resources Regulatory hurdles None 22. Which strategy is useful for a start-up in a competitive market? Cost Leadership Increasing bureaucracy Reducing product innovation Ignoring customer feedback None 23. Pivoting in a start-up means: Closing the business Changing business direction based on market response Acquiring competitors Increasing production without analysis None 24. What is an MVP in the start-up ecosystem? Most Valuable Player Minimum Viable Product Market Venture Plan Monthly Vendor Payment None 25. Crowdfunding is a method of: Raising funds from a large number of people Acquiring bank loans Merging with large companies Reducing competition None 26. Which of the following is the best definition of entrepreneurship? Starting a business Taking risks to create new business opportunities Managing a company Expanding an existing business None 27. Which of the following is NOT a characteristic of an entrepreneur? Risk-taking Innovation Dependency Visionary thinking None 28. What is the primary objective of an entrepreneur? Job security Profit maximization and value creation Social service Government employment None 29. Which function of an entrepreneur involves identifying new business opportunities? Organizing Innovation Risk-taking Planning None 30. Which of the following is NOT a source of business opportunity? Market gaps Government regulations Customer needs Competition None 31. Which government initiative supports start-ups in India? Digital India Start-up India Skill India Make in India None 32. What is the main function of an incubator in entrepreneurship? Funding start-ups Providing resources and mentoring Selling business ideas Offering government subsidies None 33. Which of the following is a key role of venture capitalists? Providing working capital loans Investing in high-growth start-ups Controlling businesses Offering insurance policies None 34. Which of the following is NOT a type of entrepreneur? Intrapreneur Social entrepreneur Traditional entrepreneur Technopreneur None 35. Which of the following is a government scheme to promote entrepreneurship among women? MUDRA Yojana Stand-Up India Digital India Start-up India None 36. Which document outlines the goals and strategies of a start-up? Articles of Association Business Plan Income Statement Memorandum of Understanding None 37. What does SWOT analysis stand for? Strength, Weakness, Opportunities, Threats Strategy, Work, Optimization, Time Sales, Workforce, Organization, Targets Start-up, Work, Outlook, Timing None 38. Which of the following is NOT a component of a business model? Revenue Streams Customer Segments Employee Salaries Value Proposition None 39. A lean start-up focuses on: Rapid experimentation and validated learning Large-scale manufacturing Traditional business planning Heavy initial investments None 40. Which funding stage typically involves friends, family, and personal savings? Series A funding Angel investment Bootstrapping Venture capital None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test. Look out for results and future opportunities. Stay Connected !! Your quiz time is about to finish. Few seconds left. 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