FBQ1: The factors of production include land, labour, capital and ______ Answer: *Entrepreneurship* FBQ2: Adam Smith is the father of _____ school of thought Answer: *Classical* FBQ3: Machinery, factories, equipment, new technology, factories, buildings, computers are examples of _____ capital Answer: *Fixed* FBQ4: _____ is protected by copyrights, patents, and trademarks.  Answer: *Intellectual property* FBQ5: The full meaning of SBUs is ____ Answer: *Strategic Business Units* FBQ6: ______ entrepreneur exploits and utilizes personal skills. Answer: *Craft* FBQ7: _____ entrepreneur is interested in having the business to grow and expand. Answer: *Opportunistic* FBQ8: Entrepreneurship _____ seeks to provide students with the knowledge, skills and motivation to encourage entrepreneurial success in a variety of settings Answer: Education FBQ9: Who is a person whose primary business is gathering and selling electronic information? Answer: *Infopreneur* FBQ10:  BOI stands for ________ Answer: *Bank of Industry* FBQ11: Structural Adjustment Programme was adopted in Nigeria in the year _____ Answer: *1986* FBQ12: The National Development of Employment (NDE) established on _____ Answer: *November 23 1986*. FBQ13: What is the full meaning of NERFUND?  Answer: *National Economic Reconstruction Fund* FBQ14: NERFUND was established in ______  Answer: *1989* FBQ15: PAT connotes _______ Answer: *Profit After Tax* FBQ16: ______ is the practice of entrepreneurship by employees within an organization. Answer: *Intrapreneurship* FBQ17: ____ are persons who can turn ideas or proto types into profitable realities, but may not be inventors.  Answer: *Intrapreneurs* FBQ18: The first step in intrapreneurship development is _____  Answer: *Developing the vision* FBQ19: ______ is an individual whose business is in the real more high technology, who at the same time has the spirit of an entrepreneur. Answer: *Technopreneur* FBQ20: What is the full meaning of SEC Answer: *Security and Exchange Commission* FBQ21: ______ abbreviated as VC Answer: *Venture capital* FBQ22: IPO stands for ________ Answer: *Initial Public Offering* FBQ23: The intersection of developing opportunities, managing and building, and gathering resources is called ____ Answer: *Creating value* FBQ24: Entrepreneurial behaviour is a function of individual’s personality and ____  Answer: *Environmental factors* FBQ25: A ____ entrepreneur is one who continuously comes up with new ideas and starts new businesses.  Answer: *Serial* FBQ26: What is the source of bank overdraft? Answer: *Commercial banks* FBQ27: Handing over of account receivable or any other debt to factors for collection with or without recourse is called ____ Answer: *Factoring* FBQ28: _______ could be issued by firms which have been quoted on the stock exchange. Answer: *Ordinary shares* FBQ29: ____ allow for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend Answer: *Cumulative preference shares* FBQ30: _____ are normally redeemed after a fixed period of time. Answer: *Redeemable preference shares* FBQ31: _____ do not have definite maturity period (but it could be sold at the security market – an artificial maturity period). Answer: *Irredeemable preference shares* FBQ32: Lease can be divided into _____ Answer: *3* FBQ33: ____ involves an offer of new securities direct to the investing public. Answer: *Issue of prospectus* FBQ34: Issuing of securities on cash basis to only the existing shareholders is called ____ Answer: *Right issue* FBQ35: Another name for Bonus Issue is called _____ or scrip issue Answer: *Capitalization* Multiple Choice Questions (MCQs): MCQ1: There are ______ factors of production Answer: 4 MCQ2: One of the followings is not a factor of production Answer: Creativity MCQ3: David Ricardo is a _____ economists Answer: Neo-classical MCQ4: A _______analysis support results derived from linear exponential Answer: Co-integration MCQ5: Who defined entrepreneurship involves initiating changes in production, whereas management involves the ongoing coordination of the production process? Answer: Freeman and Gilbreth (1995) MCQ6: A _______ person (also businessman, or businesswoman) is someone involved in a particular under taking of activities for the purpose of generating revenue from a combination of human, financial, and physical capital. Answer: Business MCQ7: _____ is a person whose primary business is gathering and selling electronic information. Answer: Infopreneur MCQ8: An _____is a party that makes an investment into one or more categories of assets---equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc.--- with the objective of making a profit. Answer: Investor MCQ9: The acronym for National Economic Reconstruction fund is ____ Answer: NERFUND MCQ10: CBN stands for Answer: Commercial Bank of Nigeria MCQ11: SMEDAN was established in ______ Answer: 2003 MCQ12: ____ refers to employee initiatives in organizations to undertake something new, without being asked to do so Answer: Intrapreneurship MCQ13: _____ are persons who can turn ideas or proto types into profitable realities, but may not be inventors. Answer: Intrapreneurs MCQ14: IT connotes Answer: Information technology MCQ15: _____ stage of financing provides financing to companies completing development where products are mostly in testing or pilot production Answer: Early MCQ16: The second stage in entrepreneurial process is _______ Answer: Gathering of resources MCQ17: Value is created when the followings are interconnected ____ except Answer: Gathering of resources MCQ18: ____ sources of funds represent current liabilities (funds owed). Answer: Short term MCQ19: Another name for account payable is _____ Answer: Trade credit MCQ20: ___ involves handing over of account receivable or any other debt to factors for collection with or without recourse. Answer: Trade credit MCQ21: Capital market is classified into ____ Answer: 4 MCQ22: Two major external sources of long-term funds financial institution and ______ Answer: Money market MCQ23: _____ shareholders are entitled to fixed dividend payment as different from equity shareholders which are entitled to variable dividend payments. Answer: Preference MCQ24: One of the followings is not a type of preference share Answer: Commonality preference shares MCQ25: ____ allow for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend Answer: Cumulative preference shares MCQ26: ____ class of shareholders is entitled to a non-cumulative dividend at a fixed rate but without a right to participate in the residual profit of a firm after the equity shareholders has been paid. Answer: Cumulative preference shares MCQ27: _____ class of shareholders is entitled to participate in the residual profit of a firm in addition to the cumulative fixed dividend rate. Answer: Cumulative preference shares MCQ28: _____ are normally issued under a firm‘s seal. Answer:  Debenture stocks MCQ29: ______ is of a medium-term or long-term nature, and it is normally based on a leasing contract which involves movable or immovable property. Answer:  Debenture stocks MCQ30: ____ involves a situation where an issuing house purchases securities from a firm and thereafter places/offers them to the investing public at a fixed price. Answer: Issue by Prospectus MCQ31: A situation in which an issuing house makes arrangement for securities to be placed with a number of individual and institutional investors (like the insurance companies, banks, National Provident Fund, and Investment Trusts) at the issue price is called ___ Answer: Issue by Prospectus MCQ32: The issue of securities on cash basis to only the existing shareholders is called ___ Answer: Issue by Prospectus MCQ33: A ____ could be defined as any notice, circular, advertisement or any other form of invitation which is used in offering shares or bonds to the investing public for investment. Answer: Prospectus MCQ34: The primary market/issue in the stock market is controlled by _____ Answer: Securities and Exchange Commission MCQ35: The secondary market/issue in the stock market is controlled by _____ Answer: Securities and Exchange Commission