ENT 2113 TEST PAPER 2025/2026 QUESTIONS AND
SOLUTION RATED A+
✔✔What are the critical elements that an entrepreneur must solve for success?
sustainable operating profit margins
being properly financed
All of these choices are correct.
an effective sales generation model - ✔✔All of these choices are correct.
✔✔Microloans have been in existence for years; they are most commonly made directly
to ________ for self-development.
women
men
young adults
Hispanics - ✔✔women
Microloan programs have been in existence for years to encourage self-development.
These loans are often for only a few dollars each and are made directly to
entrepreneurs, often women.
✔✔Small companies have flourished in the United States because they
respond more quickly to their customers' needs.
often expand easily in mature industries.
employ more skilled people than larger businesses.
have better organizational policies and procedures. - ✔✔respond more quickly to their
customers' needs.
✔✔dentify a true statement about the history of entrepreneurial businesses in the
United States.
Steel and automobile manufacturing in the United States flourished in the late 1970s
and early 1980s.
The 1880s saw the initial development of the nation's large industrial base.
,The Great Depression of the 1930s was harder on mature businesses than on
entrepreneurial businesses.
Entrepreneurial businesses as a percentage of the U.S. economic output began to grow
exponentially following World War II. - ✔✔The 1880s saw the initial development of the
nation's large industrial base.
The 1880s saw the initial development of the nation's large industrial base. Until the
mid-1880s, almost all U.S. businesses were still relatively small.
✔✔Which of the following is a difference between large organizations and
entrepreneurial businesses?
A. Unlike entrepreneurial businesses, large organizations have a better understanding
of the local community in which they conduct business.
B. Unlike entrepreneurial businesses, large organizations will regularly ignore business
opportunities if they fail to believe the results will generate high profits.
C. Unlike large organizations, entrepreneurial businesses do things more efficiently
because they are easily able to achieve economies of scale.
D. Unlike large organizations, entrepreneurial businesses are burdened by policies,
procedures, corporate layers of management, and public stockholders. - ✔✔B. Unlike
entrepreneurial businesses, large organizations will regularly ignore business
opportunities if they fail to believe the results will generate high profits.
✔✔Identify a true statement about entrepreneurial firms.
A. Such businesses tend to develop operations in multiple locations very shortly after
the initial investment.
B. Such businesses generally hire an experienced president to grow the company.
C. The number of employees in such businesses is not expected to grow to more than
50 to 100.
D.The organizational structure in such businesses is often well-developed - ✔✔C. The
number of employees in such businesses is not expected to grow to more than 50 to
100.
✔✔Which one of the following is a huge advantage for small business owners to start a
business?
benefit the stakeholders
desire to work for others
desire to be efficient and productive
, desire to be one's own boss - ✔✔desire to be one's own boss
✔✔Family members are in a unique position to keep an individual focused on pursuing
the wrong approach to an issue. T/F - ✔✔False
Family members are in a unique position to provide you with key insights when you may
be pursuing the wrong approach to an issue.
✔✔A Myers-Briggs test analyzes four pairs of variables to indicate the different ways in
which individuals deal with other people and their environment. T/F - ✔✔True
✔✔Business incubators work best with small manufacturing-based firms. T/F - ✔✔True
Business incubators work best with office-based service firms, scientific-based firms
requiring lab space, or small, clean manufacturing firms.
✔✔According to the agency theory, a manager at a large firm is more likely to exploit
organizational resources for his or her own benefit than the owner of a small firm. T/F -
✔✔True
According to the agency theory, a manager at a large firm is more likely to exploit
organizational resources for his or her own benefit than the owner of a small firm. The
theory argues that individuals act to maximize their own benefit.
✔✔Two triggers for staring a new business are talking to successful entrepreneurs and
being laid off from your job. T/F - ✔✔True
Being laid off from established employment and being spurred to action by attending a
seminar, reading a book, or talking with successful entrepreneurs are triggers for
starting a business.
✔✔Which of the following is not a personal motivation for an individual to start a
business?
A. willing to make career-changing moves
B. being proactive
C. feeling driven to achieve goals
D. taking a defensive position - ✔✔D. taking a defensive position
✔✔________ states that individuals make decisions that maximize their own individual
benefits.
A. Agency theory
B. Self-fulfilling prophesy
C. Individual benefit theory
D. Organizational benefit theory - ✔✔A. Agency theory
SOLUTION RATED A+
✔✔What are the critical elements that an entrepreneur must solve for success?
sustainable operating profit margins
being properly financed
All of these choices are correct.
an effective sales generation model - ✔✔All of these choices are correct.
✔✔Microloans have been in existence for years; they are most commonly made directly
to ________ for self-development.
women
men
young adults
Hispanics - ✔✔women
Microloan programs have been in existence for years to encourage self-development.
These loans are often for only a few dollars each and are made directly to
entrepreneurs, often women.
✔✔Small companies have flourished in the United States because they
respond more quickly to their customers' needs.
often expand easily in mature industries.
employ more skilled people than larger businesses.
have better organizational policies and procedures. - ✔✔respond more quickly to their
customers' needs.
✔✔dentify a true statement about the history of entrepreneurial businesses in the
United States.
Steel and automobile manufacturing in the United States flourished in the late 1970s
and early 1980s.
The 1880s saw the initial development of the nation's large industrial base.
,The Great Depression of the 1930s was harder on mature businesses than on
entrepreneurial businesses.
Entrepreneurial businesses as a percentage of the U.S. economic output began to grow
exponentially following World War II. - ✔✔The 1880s saw the initial development of the
nation's large industrial base.
The 1880s saw the initial development of the nation's large industrial base. Until the
mid-1880s, almost all U.S. businesses were still relatively small.
✔✔Which of the following is a difference between large organizations and
entrepreneurial businesses?
A. Unlike entrepreneurial businesses, large organizations have a better understanding
of the local community in which they conduct business.
B. Unlike entrepreneurial businesses, large organizations will regularly ignore business
opportunities if they fail to believe the results will generate high profits.
C. Unlike large organizations, entrepreneurial businesses do things more efficiently
because they are easily able to achieve economies of scale.
D. Unlike large organizations, entrepreneurial businesses are burdened by policies,
procedures, corporate layers of management, and public stockholders. - ✔✔B. Unlike
entrepreneurial businesses, large organizations will regularly ignore business
opportunities if they fail to believe the results will generate high profits.
✔✔Identify a true statement about entrepreneurial firms.
A. Such businesses tend to develop operations in multiple locations very shortly after
the initial investment.
B. Such businesses generally hire an experienced president to grow the company.
C. The number of employees in such businesses is not expected to grow to more than
50 to 100.
D.The organizational structure in such businesses is often well-developed - ✔✔C. The
number of employees in such businesses is not expected to grow to more than 50 to
100.
✔✔Which one of the following is a huge advantage for small business owners to start a
business?
benefit the stakeholders
desire to work for others
desire to be efficient and productive
, desire to be one's own boss - ✔✔desire to be one's own boss
✔✔Family members are in a unique position to keep an individual focused on pursuing
the wrong approach to an issue. T/F - ✔✔False
Family members are in a unique position to provide you with key insights when you may
be pursuing the wrong approach to an issue.
✔✔A Myers-Briggs test analyzes four pairs of variables to indicate the different ways in
which individuals deal with other people and their environment. T/F - ✔✔True
✔✔Business incubators work best with small manufacturing-based firms. T/F - ✔✔True
Business incubators work best with office-based service firms, scientific-based firms
requiring lab space, or small, clean manufacturing firms.
✔✔According to the agency theory, a manager at a large firm is more likely to exploit
organizational resources for his or her own benefit than the owner of a small firm. T/F -
✔✔True
According to the agency theory, a manager at a large firm is more likely to exploit
organizational resources for his or her own benefit than the owner of a small firm. The
theory argues that individuals act to maximize their own benefit.
✔✔Two triggers for staring a new business are talking to successful entrepreneurs and
being laid off from your job. T/F - ✔✔True
Being laid off from established employment and being spurred to action by attending a
seminar, reading a book, or talking with successful entrepreneurs are triggers for
starting a business.
✔✔Which of the following is not a personal motivation for an individual to start a
business?
A. willing to make career-changing moves
B. being proactive
C. feeling driven to achieve goals
D. taking a defensive position - ✔✔D. taking a defensive position
✔✔________ states that individuals make decisions that maximize their own individual
benefits.
A. Agency theory
B. Self-fulfilling prophesy
C. Individual benefit theory
D. Organizational benefit theory - ✔✔A. Agency theory
