with no explanation answer the following questions. 1 -----------------is an invitation to participate in a journey through the world of business and...
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with no explanation answer the following questions.

1 -----------------is an invitation to participate in a journey through the world of business and entrepreneurship.

Select one:

a. Innovation

b. Business Plan

c. Idea

d. Entrepreneurship

e. None of the option


2.A section in a business plan that explains why people will buy the product or service, based on its unique features is called ------------------

Select one:

a. Product and service plan

b. Company description

c. Operations plan

d. Management plan

e. Marketing plan


3.Business ethics provides guidelines to SMEs around all EXCEPT

Select one:

a.

Reducing conflict

b.

Profit minimization

c.

Right way of making decisions

d.

Profit maximization

e.

Interruptions that slows business growth


4.A business plan for attracting shareholders or partners contains information such as:


select one:

a. Identifying the target market, and products and services offered, Transformation or expansion cost and Market research of the target market

b. Market research of the target market

c. Identifying the target market, and products and services offered.

d. Transformation or expansion cost

5.Which of the following is an entrepreneurial leadership characteristic

Select one:

a.

Avoids risk

b.

Manages people

c.

Build subordinate relationships

d.

Empowers followers for self-management

6.Business owners should:

Select one:

a.

All of the above

b.

register with the Department of Labour for the Unemployment Insurance Fund (UIF) and the Compensation for Occupational Injuries and Diseases Fund (COIDF). 

c.

first register with the local authority (municipality) to obtain a license to trade

d.

register with the Receiver of Revenue for Value Added Tax (money collected on business sales from its customers and on behalf of SARS)

e.

register for income tax (tax levied on income/salaries/wages of individuals or businesses) for him-/herself and his/her employee


7. _____________ helps to describes the current activities that the business is involved in:


Select one:

a. Projection

b. Mission

c.

 Vision

d.

Outline

8.________________ Is a registered, exclusive right of an inventor to make, use or sell an invention


Select one:

a.

A Patent

b.

A Copyright

c.

A contract

d.

 A form of ownership

9.An autonomous associations of persons to meet their common economic, social, cultural needs and aspirations through a jointly-owned & democratically-controlled enterprise is a definition of:

Select one:

a. A company

b.

A Co-operative

c.

A sole proprietorship

d.

A partnership

e.

None of the above

10.A strategic document for an existing or a new business plan contains all EXCEPT


Select one:

a.

The vision and mission statement

b. How to control performance

c. How transformation will be financed

d. How to implement performance

e. The business objectives

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