$1.$A $($n$)\_\_\_\_\_\_\_\_$ is defined as a form of business that is an association of two or more people acting as co$-$owners of a business.

a$.$ Proprietorship b$.$Partnership

c$.$ Corporation d$.$Conglomerate

$2.$ Sefalana is a$\_\_\_\_\_\_\_\_\_\_$ type of business form.

a$.$ Sole proprietor

b$.$ Privately held corporation

c$.$ Publicly held corporation

d$.$ Partnership

$3.$ A balance sheet consists of $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_.$

a$.$ Collateral and assets

b$.$ Assets and earnings

c$.$ Liabilities and equity

d$.$ Assets and liabilities

$4.$ Which of the following is an example of an internal growth strategy?

a$.$ Licensing

b$.$ Merger

c$.$ New product development

d$.$ Strategic alliance

$5.$One of the following is not part of the objectives of goal setting within the planning group of business enterprise.

a$.$Consultation of experts for business and technical advice

b$.$Setting of meaningful, challenging and achievable goals

c$.$Articulation of clear and specific long$-$term goals d$.$Setting of measurable short term objective

$6.$Of the following, which is best identified when a business with an established name and product is sold to additional owners along with the rights to distribute product?

a$.$Intrapreneurship b$.$Entrepreneurship c$.$ Trade$-$off d$.$Franchise

$7.$Which of the following are the main components of an industry$/$target market feasibility analysis?

a$.$ Industry status and target market status

b$.$ Industry attractiveness and target market attractiveness c$.$ Industry sufficiency and target market demand

d$.$ Industry attractiveness and product$/$service demand

$8.$One of the following does not belong to personal entrepreneurial characteristic. a$)$ The achievement group

b$)$ Power group

c$)$ The planning group

d$)$ The risk taking group

$9.$Which of the following is the vital question in the economic system? a$.$What to produce

b$.$How to produce

c$.$For whom to produce

d$.$All of the above

$10.$ Which of the following are demographic characteristics? a$.$ Age and marital status

b$.$ Age and attitudes

c$.$ Self$-$management and gender

d$.$ Cross$-$functionality and age