C208 - Assessment - Module 6
Questions with Actual Answers 2025-
2026 Edition.
Which of the following statements about entrepreneurs and small business is false?
a) Entrepreneurs generally concentrate on rapid growth, while small business owners often
aren't as focused on growing quickly.
b) Entrepreneurs look for a large return on their investment, while small business owners may
balance other financial goals with ROI.
c) Entrepreneurs and small business owners are equally comfortable with higher levels of risk.
d) What begins as a small business can become an entrepreneurial venture. - Answer
Feedback: Statement C is false. Entrepreneurs and small business owners are not equally
comfortable with higher levels of risk--entrepreneurs are more willing to accept risk.
Of the following factors, which is typically the best predictor of entrepreneurial success?
a) The amount of related industry experiences an entrepreneur has in the specific marketplace.
b) The level of enthusiasm an entrepreneur brings to the new venture.
c) The education level of an entrepreneur.
d) The number of failed start-ups an entrepreneur has experienced. - Answer Feedback: Of
these factors, the amount of related industry experiences an entrepreneur has in the specific
marketplace is typically the best predictor of entrepreneurial success.
Of the following questions, which is least likely to be asked during the discovery stage of the
entrepreneurial process?
a) Does this product or service address unmet needs?
b) Does this product or service address fit in a market niche?
c) Who will ultimately control the operations of the new venture?
d) Can an old product or service be altered and reintroduced to address unmet needs? - Answer
Feedback: Questions about the control of the new venture are generally not addressed until
Stage Three: Structuring the Venture.
Evaluating a new product or service can be accomplished through:
a) market research
b) prototype test
, Which of the following questions does not help shape a new venture's mission statement?
a) Who are the venture's customers or clients?
b) What value does the venture create?
c) How does the organization create value for the customer or client?
d) How does the venture price its product or service? - Answer Feedback: The correct answer
is D. The pricing question is not one used to shape a new venture's mission statement.
What is the ideal length of a new venture's business plan, according to experts?
a) 40 pages
b) 50 pages
c) 75 pages
d) 100 pages - Answer Feedback: The correct answer is B. Many experts see 50 pages as the
ideal length for a new venture's business plan.
Which of the following managerial approaches is least likely to be adopted by an entrepreneur?
a) A preference for action
b) A pursuit of goals
c) Heavy delegation to subordinates
d) Attention to detail - Answer Feedback: The correct answer is C. Of these approaches, an
entrepreneur is least likely to adopt heavy delegation.
An individual who has started several companies is called a:
a) Social entrepreneur
b) Serial entrepreneur
c) Intrapreneur
d) Serious entrepreneur - Answer Feedback: The correct answer is B. An individual who has
started several companies is called a serial entrepreneur.
Which of the following statements is false?
a) An entrepreneur must fail several times before finding the winning formula
b) Success in corporate America doesn't always translate into entrepreneurial success.
c) Not all entrepreneurs focus on technology or come from scientific or academic backgrounds.
Questions with Actual Answers 2025-
2026 Edition.
Which of the following statements about entrepreneurs and small business is false?
a) Entrepreneurs generally concentrate on rapid growth, while small business owners often
aren't as focused on growing quickly.
b) Entrepreneurs look for a large return on their investment, while small business owners may
balance other financial goals with ROI.
c) Entrepreneurs and small business owners are equally comfortable with higher levels of risk.
d) What begins as a small business can become an entrepreneurial venture. - Answer
Feedback: Statement C is false. Entrepreneurs and small business owners are not equally
comfortable with higher levels of risk--entrepreneurs are more willing to accept risk.
Of the following factors, which is typically the best predictor of entrepreneurial success?
a) The amount of related industry experiences an entrepreneur has in the specific marketplace.
b) The level of enthusiasm an entrepreneur brings to the new venture.
c) The education level of an entrepreneur.
d) The number of failed start-ups an entrepreneur has experienced. - Answer Feedback: Of
these factors, the amount of related industry experiences an entrepreneur has in the specific
marketplace is typically the best predictor of entrepreneurial success.
Of the following questions, which is least likely to be asked during the discovery stage of the
entrepreneurial process?
a) Does this product or service address unmet needs?
b) Does this product or service address fit in a market niche?
c) Who will ultimately control the operations of the new venture?
d) Can an old product or service be altered and reintroduced to address unmet needs? - Answer
Feedback: Questions about the control of the new venture are generally not addressed until
Stage Three: Structuring the Venture.
Evaluating a new product or service can be accomplished through:
a) market research
b) prototype test
, Which of the following questions does not help shape a new venture's mission statement?
a) Who are the venture's customers or clients?
b) What value does the venture create?
c) How does the organization create value for the customer or client?
d) How does the venture price its product or service? - Answer Feedback: The correct answer
is D. The pricing question is not one used to shape a new venture's mission statement.
What is the ideal length of a new venture's business plan, according to experts?
a) 40 pages
b) 50 pages
c) 75 pages
d) 100 pages - Answer Feedback: The correct answer is B. Many experts see 50 pages as the
ideal length for a new venture's business plan.
Which of the following managerial approaches is least likely to be adopted by an entrepreneur?
a) A preference for action
b) A pursuit of goals
c) Heavy delegation to subordinates
d) Attention to detail - Answer Feedback: The correct answer is C. Of these approaches, an
entrepreneur is least likely to adopt heavy delegation.
An individual who has started several companies is called a:
a) Social entrepreneur
b) Serial entrepreneur
c) Intrapreneur
d) Serious entrepreneur - Answer Feedback: The correct answer is B. An individual who has
started several companies is called a serial entrepreneur.
Which of the following statements is false?
a) An entrepreneur must fail several times before finding the winning formula
b) Success in corporate America doesn't always translate into entrepreneurial success.
c) Not all entrepreneurs focus on technology or come from scientific or academic backgrounds.
