1. Modifications means improving on time by coming out with modified and more improved ideas of doing the existing business

2. ……… is the capacity to innovate or ability to organize and manage a business concern

3. Capital market is the market where ……… are bought and sold.

4. ……… is a person within a large organization who takes direct responsibility for turning an idea into profitable finished product through assertive risk taking and innovation

5. Durable goods that are used in the production of other goods and services are known as ………

6. Some of these products are produced in beverages production via “fermentation” except one

7. Business goals play the following roles in an economy except:

8. Finance for an entrepreneur can be sourced from the following except ………

9. Idea coming from self-support or design that has not existed before is known as ………

10. Incorporated companies include all the following except

11. Which of the following is not an element of innovation?

12. Major sources of finance for small business include the following except:

13. ……… is a business idea in the mind of entrepreneur that it transformed into profitable activities that involve exchange of value for value.

14. Budgetary control is important because

15. The basic drive behind every business activity is ………

16. ……… factors are unwarranted conditions that force individuals to look for means of having access to the market

17. The amount of money a company has to carry on with its daily operations is known as

18. Think big, start small is a slogan of whom?

19. ……… is the one who assumes not only the risk of business venture but also the management of business venture.

20. A company can be described as an association of a number of persons united for ………

21. The middleman that buys goods in bulk from the producer and resells in quantity to the retailer is ………

22. The profit-making aim of every business can only be achieved by ………

23. ……… is an idea gotten through consultancy

24. ……… is the money used to purchase asset that will remain permanently in the business

25. ……… Techniques allow small companies or individuals to act like a big companies

26. ……… is a medium to long-term debt instrument used by large companies to borrow money at a fixed rate of interest

27. ……… is a type of business organization

28. Risk is not attached to business opportunities in Nigeria.

29. The person who assumes the risk of business and also manages the business venture is known as ………

30. One of the following is not a step in starting a new business

31. What is budget?

32. What is your conclusion on the relevance of entrepreneurship?

33. What do you understand by capital goods?

34. The commonest type of business organization among young or first-time entrepreneur is: ………

35. A quantitative analysis of income and expenditure of an organization usually for a period of one year or more is known as ………

36. ……… are voluntary association of free and independent persons for the betterment of their economic conditions.

37. The focus of business that the owner faces unlimited liabilities is ………

38. ……… is money used by entrepreneurs and business to buy what they need to make their products or provide their services

39. A credit term that attaches discount to a specific quantity of goods bought is

40. ……… is the amount of share capital, which is actually issued for subscription to member of the public.

41. The agreement that guides the operation of partnership is refers to as ………

42. In financial forecasting, items on the profit and loss account and balance sheets can be related to total assets. This approach is termed as ………

43. Which of the following is not true of the term CAPITAL?

44. Ability to understand customers and compete favorably with competitors is known as ………

45. Cantillon describes an entrepreneur as someone who exercises judgment in the face of ……….

46. ……… is the amount charged for insurance coverage

47. The process of adding appropriate attributes to an existing idea or invention is called ………

48. An investigation into the potential outcome of a proposed business opportunity is known as

49. All the following are long term source of capital except

50. SWOT in business means ………

51. ……… claimed that four primary factors are necessary for production: land, labour, capital and entrepreneur.

52. ………………… is ………….. If an entrepreneur

53. The old method of exchanging goods for goods and service for service is known as ………

54. ……… is the relationship that exist between persons carrying out a business with a view of profit

55. The most formidable issue in starting new business is

56. Long term sources usually above 7 years is called ………

57. ……… has been broadly defined as “getting things done through other people”

58. Starting a business involves how many steps as highlighted by Allan 1987?

59. Service-producing industries includes the following except:

60. All the following are the functions of entrepreneur except:

61. The debt instrument commonly used by companies to raise funds on long-term basis is called

62. According to Robertson (1967) the following are the three types of innovation except:

63. The two major source of fund for new ventures are ……… and ………

64. An entrepreneur must have business ideas that can lead to the formation of viable businesses. This idea comes from various source which includes:

65. ……… marketing uses social networks

66. The involvement of a firm in acquiring the services of an asset it did not previously owned is called ………

67. ……… in entrepreneurship can be view as the uncertainty in what might be the outcome of the business embarked on by an entrepreneur.

68. Sources of finance for entrepreneur can be the following except

69. Which of the following is not a broad area of entrepreneurial behavior:

70. The main objective of feasibility studies is ………