1. Statement 1; Lean startup as approach to entrepreneurship involves developing business model as core startup strategy, whereas the traditional approach to entrepreneurship involves developing a business plan as core startup strategy

Statement 2; Lean startup approach involves use of income statement, balance sheet and cash flow statement as accounting tool; whereas the traditional approach involves use of cost of customer acquisition, lifetime customer value and customer learning as accounting tool

a. Statement 1 is true and statement 2 is false

b. Statement 1 is false and statement 2 is true

c. Both statement are true

d. Both statement are false

.

2. Statement 1; Because of lack of long history of operational performance and predictable growth trajectory, valuation tools based on discounted cash flow tend to be less helpful to the investors to develop a sense of startups valuation

Statement 2; Investors use their judgement based on their experience to develop as sense of startups valuation based on market opportunity, the quality of team and stage of venture

a. Statement 1 is true and statement 2 is false

b. Statement 1 is false and statement 2 is true

c. Both the statement are true

d. Both the statement are false

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3. We conducted tower building exercise during the session on March 1, 2019. The team of three players were asked to prepare a tower using the wooden blocks. The exercise is all about

a. Skills of each team member

b. Team dynamic

c. Team synergy

d. All of the above

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4. ___________ invest their personal capital directly in startups either at the seed stage or the early stage of the venture

a. Venture capitalists

b. Co-founders

c. Angel investors

d. Commercial banks

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5. _________ characteristics of entrepreneur has been all about the ability to handle ever changing situations and decision making under uncertainty

a. High degree of commitment

b. Future orientation

c. Preference of moderate risk

d. Tolerance of ambiguity

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6. A skills profile used a tool while building the startup team is a chart that despite the

a. Preferable skills and abilities of the members of a firms board of advisors

b. Preferable skills and abilities of the members of the firms board of directors

c. Most important skills that are needed in a business startup and where skill gape exist

d. Skills and abilities that will be needed for a firm to maintain an aggressive growth strategy

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7. ___________ networks are composed of relationships with various people who can provide direction and guidance

a. Task

b. Social

c. Career

d. Business

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8. _____________ is a better and preferred alternative to find/finance a new venture that is characterized as high on new idea (with technology or business model novelty) but relatively low on requirements for capital to become cash flow positive

Select one

a. Small business bank loans

b. Project finance from banks

c. Equity funding from angel investors

d. Debt financing

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9. ___________ is an appropriate source of financing or funding for a business that has a high risk with an uncertain return with low to moderate growth prospects and unproven management

a. Personal funds and bootstrapping

b. Equity financing from angel investors

c. Debt financing from banks

d. Government grants

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10. From the following list of alternatives of equity funds, funding from __________ has relatively lowest cost of funds/capital

a. Incubators

b. Angel funds and networks

c. Venture funds

d. High network individuals (HNIs)