Chapter Exam

Chapter 5: Entrepreneurship — Online MCQ Test

Q: Which of the following is a characteristic of an entrepreneur?

Answer: A. Risk-taking — Risk-taking is one of the main characteristics of an entrepreneur because business involves uncertainty.

Q: A question with two statements is given: Statement I: Entrepreneurs always avoid uncertainty. Statement II: Entrepreneurs are responsible for bearing business risks. Which is correct?

Answer: A. Statement I is false and Statement II is true — Entrepreneurs do not avoid uncertainty; they face it and bear risks while starting and running a business.

COMMERCE · CLASS 12 INTERMEDIATE 2 YEAR · Telangana State Board

Practice Chapter 5: Entrepreneurship with a free chapter-wise online MCQ test for Telangana State Board CLASS 12 INTERMEDIATE 2 YEAR COMMERCE. This chapter covers: Focusing on business creation this chapter covers entrepreneurship concepts characteristics functions types of entrepreneurs and their vital role in economic development.. AI-generated questions from basic to board-exam level, with instant results and explanations.

Questions

20m

Time Limit

Attempts Left

10 random questions from this chapter (mixed difficulty)
Questions you've seen before won't repeat until the pool resets
You have 20 minutes — exam auto-submits when time is up
Maximum 3 attempts per chapter
Results and explanations shown immediately after submission

New here? Register free — includes 3 free chapter exams.

Chapter 5: Entrepreneurship — Important Questions & Answers (FAQ)

Frequently asked questions from Telangana State Board CLASS 12 INTERMEDIATE 2 YEAR COMMERCE — Chapter 5: Entrepreneurship, with answers and explanations. These are sample questions; the exam has its own separate question set.

Who is an entrepreneur?

A. A person who takes risks and organizes business activities ✓
B. A person who only invests money in shares
C. A person who works only as a salaried employee
D. A person who buys goods for personal use

Answer: A. A person who takes risks and organizes business activities
An entrepreneur is a person who starts and organizes a business, takes risks, and makes decisions to earn profit.

Which of the following is a characteristic of an entrepreneur?

A. Risk-taking ✓
B. Routine obedience
C. Dependence on others for decisions
D. Avoidance of innovation

Answer: A. Risk-taking
Risk-taking is one of the main characteristics of an entrepreneur because business involves uncertainty.

Entrepreneurship mainly refers to:

A. The process of starting and developing a business venture ✓
B. The process of fixed salary employment
C. The process of only consuming goods
D. The process of government budgeting

Answer: A. The process of starting and developing a business venture
Entrepreneurship is the process of identifying opportunities, starting a venture, and managing it for profit and growth.

Which statement best distinguishes an entrepreneur from a manager?

A. An entrepreneur takes risk, while a manager mainly executes plans ✓
B. A manager always owns the business, while an entrepreneur does not
C. An entrepreneur never makes decisions, while a manager does
D. Both are identical in role and responsibility

Answer: A. An entrepreneur takes risk, while a manager mainly executes plans
An entrepreneur is the risk bearer and initiator of the business, whereas a manager mainly implements and controls business operations.

A question with two statements is given: Statement I: Entrepreneurs always avoid uncertainty. Statement II: Entrepreneurs are responsible for bearing business risks. Which is correct?

A. Statement I is false and Statement II is true ✓
B. Statement I is true and Statement II is false
C. Both statements are true
D. Both statements are false

Answer: A. Statement I is false and Statement II is true
Entrepreneurs do not avoid uncertainty; they face it and bear risks while starting and running a business.

← Previous Chapter

Chapter 4: Insurance Services

Next Chapter →

Chapter 6: Setting up a Business