Take your time to read instructions before taking this test.

There are 40 questions which you are to answer in 15 minutes that gives you roughly 30 seconds per question.

If you can get at least 60%, you can be rest assured that you’ll ace GST 204 exam

In a normal exam you will be asked between 40 – 60 questions but I only arranged 40 questions

Note

Do not be in a hurry to answer the questions

Do not waste time on a question you don’t know

Move as fast as possible and starting with questions that don’t have calculation first to save time

Always crosscheck

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70 – 100 A

60 – 69 B

50 – 59 C

45 – 49 D

40 – 44 E

0 – 39 F

I wish you success

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Created on July 26, 2023 By

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Gst 204

1 / 50

1. Which of the following is an important element of an organization external environment

A. Socio cultural environment

B. All the options

C. Political-legal environment

D. Technological environment

2 / 50

Elkington and Hartigan (2007) define ______ models for social ventures.

A. 4

B. 3

C. 2

D. 5

3 / 50

Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______

A. Social interest

B. Social make up

C. Social value

D. Social esteem

4 / 50

4. The need for a business plan includes all the following except

A. Planing to launch a new business

B. Increasing your labour force

C. Expanding your existing business

D. Adding a new product or product line

5 / 50

5. Which of the following is a community resource?

A. Family owned furniture

B. Personal Skills

C. Individual time

D. Public Park

6 / 50

6. _______ is a system of principle governing the proper conduct of a person or group

A. Risk

B. Ethics

C. Law

D. Management

7 / 50

7. The macroeconomic framework of NEEDS does not include

A. Government to create more jobs

B. Changing the way the government does it's work

C. Empowering people

D. Promoting private enterprise

8 / 50

8. Which of the following best describes the unconditioned stimulus (UCS) in classical conditioning?

A. A stimulus that does not initially trigger a response

B. A learned response to a previously neutral stimulus

C. A previously neutral stimulus that now leads to a response

D. A stimulus that naturally and automatically triggers a response

9 / 50

9. What is a major cause of voluntary employee turnover

A. Lack of career progression

B. High workload

C. Long working hours

D. Poor management behavior

10 / 50

10. Quality Control is defined as

A. Controlling the number of pieces involved

B. Producing and monitoring products so they are acceptable to the consumer

C. Producing and monitoring products so they are acceptable to the workers

D. Controlling the cost of product

11 / 50

11. The followings except_____ is a component of feasibility studies

A. Technology

B. Executive Summary

C. Acquisition

D. Product/Service

12 / 50

12. Which of the following is not a component of employee wellbeing?

A. Career well-being

B. Social well-being

C. Environmental well-being

D. Cultural well-being

13 / 50

13. The cheapest source I'd long term finance is

A. Equity

B. Preference Share

C. Debenture

D. Convertible security

14 / 50

14.

______is known as the father of scientific management.

A. Frederick W Taylor

B. Henry Fayol

C. Adam Smith

D. Gilbreth

15 / 50

15. The goal of vision 2020 includes all the following except

A. Values orientation

B. Employment generation

C. Poverty reduction

D. Wealth for all

16 / 50

16. Which of these is NOT an example of a material resource?

A. Food item

B. Space

C. Motivation

D. Stationery

17 / 50

17. An entrepreneur must be open to

A. Challenge

B. Criticism

C. Others

D. Negotiation

18 / 50

18. An individual that exhibits innovative abilities,perceives the market opportunities and has the motivation,drive and ability to mobilize resources to meet market opportunities,while working in an existing organization is known as a/an

A. Manager

B. Inventor

C. Entrepreneur

D. Intrapreneur

19 / 50

19. Which phase of classical conditioning involves pairing a neutral stimulus with an unconditioned stimulus?

A. Acquisition

B. During Conditioning

C. After Conditioning

D. Before Conditioning

20 / 50

20.

A plan must be________

A. Explicit

B. Readable

C. Accommodating

D. Doable

21 / 50

21.

____________ managers are responsible for hiring and developing employees

A. Human resources

B. Financial

C. Management

D. Marketing

22 / 50

22. All these are critical success factors in entrepreneurship except

A. Absence of capital project

B. Poor managerial experience

C. Lack of product development

D. Lack of information about customer

23 / 50

23. The reason for feasibility studies includes

A. All the options

B. Identifying logistical and other related business problem solution

C. Listing in detail all you need to make it work

D. Serving as a solo foundation to build your business plan

24 / 50

24. The type of business you are planning should be stated under

A. Marketing

B. Organization

C. Description of the business

D. All the options

25 / 50

25. A plan must be

A. Accommodating

B. Readable

C. Durable

D. Explicit

26 / 50

26. What should companies do to communicate their care for employees?

A. Increase salaries regularly

B. Use newsletters, rewards, and paid incentives

C. Allow employees to work from home permanently

D. Provide longer lunch breaks

27 / 50

27. Making a purchase you had not planned is called

A. Impulse Buying

B. Consumer shopping

C. Warranty

D. Comparison shopping

28 / 50

28.

_________ is a systematic way of doing things.

A. Process

B. Organization

C. Industry

D. System

29 / 50

29. Corporate social responsibility is about

A. Quality leadership of organization

B. The ethical rights between a company and its host societies

C. Moral rights and duties between a company and its share holders

D. Misuse of corporate ethics policies

30 / 50

30.

_________ is the process of arranging and all locating work, authority, and resources among an organization's members so they can achieve the organization's goals.

A. Implementing

B. Organizing

C. Planning

D. Controlling

31 / 50

31.

_____ is deliberate arrangement of people to accomplish some specific purpose

A. Organization

B. Human Resources Management

C. Department

D. Management

32 / 50

32.

Managers can be differentiated into the following, except ,,,,,,,,,,,,,,,,

A. Financial

B. Operating

C. Marketing

D. Management

33 / 50

33. The need for a full scale business plan is spurred by one of the following except

A. You want to expand your existing business into new markets

B. You plan to launch a new business

C. None of the options

D. You want to add a new product or product line

34 / 50

34.

________ may be structured in many forms, including sole proprietors, for-profit and not-for-profit firms, non-governmental organizations, youth groups, community organizations, and more.

A. Technical Venture

B. Skilled Venture

C. Social Venture

D. Political Venture

35 / 50

35. Which of the following is a consequence of high job satisfaction in a workplace?

A. Higher productivity

B. Higher fixed HR costs

C. Increased voluntary turn over

D. Decreased employee refferals

36 / 50

36. All but which of the following is considered to be a myth

A. First venture are always successful

B. An entrepreneur faces extraordinary business risk

C. Successful entrepreneurs are born not made

D. Successful entrepreneurs must have a breakthrough invention

37 / 50

37. What is the most important source of money for new business start ups

A. Cooperative society

B. Grants

C. Personal savings

D. Banks

38 / 50

38. For small business owners one of the most important objective is

A. Market peace

B. Growth

C. Adaptability

D. Profitability

39 / 50

39. which resource is available to everyone equally?

A. Knowledge

B. Money

C. Energy

D. Time

40 / 50

40. _____ is the assignment of a task,responsibility or authority by a manager to a subordinate

A. Delegation

B. Decentralization

C. Centralization

D. Responsibility

41 / 50

41. One of the followings is the Major Environmental Factor

A. Marketing

B. Selling

C. Policy making

D. Cultism

42 / 50

42.

When a manager performs duties such as greeting visitors, speaking at functions, taking important customers to lunch etc. This role is known as

A. Spokesman role

B. Leadership role

C. Monitor role

D. Figure head role

43 / 50

43. Which statement is not true of entrepreneurs

A. They are agents of adjustment

B. The change the way business converts input and output

C. They generally stick to the process

D. They apply innovative ideas

44 / 50

44.

____________ skill is highly necessary at the lower level of management

A. Analytical Skill

B. Human Skill

C. Conceptual Skill

D. Technical Skill

45 / 50

45. Sources of funds obtained for a period between one day and 365 days is

A. Long term

B. All the options

C. Short term

D. Medium term

46 / 50

46.

___________ is an offer of shares to the public, and must also be sent to the Registrar of Companies.

A. Books

B. Journals

C. Articles

D. Prospectus

47 / 50

47. The most important of the factors of production is

A. Entrepreneur

B. Labour

C. Capital

D. Land

48 / 50

48. Product Planning Tells You

A. Cost to produce your product

B. Your net profit

C. Total revenues

D. Where you will produce your product

49 / 50

49. One of the benefits of planning is

A. It increases "firefight"

B. It justifies your plans and actions

C. It keeps ideas in your memory

D. It indicates your inability

50 / 50

50. The social entrepreneur who is interested in poverty reduction of the less privileged with a foundation to assist children is

A. Bola Ahmed Tinubu

B. Aliko Dangote

C. Poly Emenike

D. Rochas Okorocha

Your score is

The average score is 37%

FUOYE GST 204 CBT PRACTICE TEST

Elkington and Hartigan (2007) define ______ models for social ventures.

______is known as the father of scientific management.

A plan must be________

____________ managers are responsible for hiring and developing employees

_________ is a systematic way of doing things.

_________ is the process of arranging and all locating work, authority, and resources among an organization's members so they can achieve the organization's goals.

_____ is deliberate arrangement of people to accomplish some specific purpose

Managers can be differentiated into the following, except ,,,,,,,,,,,,,,,,

________ may be structured in many forms, including sole proprietors, for-profit and not-for-profit firms, non-governmental organizations, youth groups, community organizations, and more.

When a manager performs duties such as greeting visitors, speaking at functions, taking important customers to lunch etc. This role is known as

____________ skill is highly necessary at the lower level of management

___________ is an offer of shares to the public, and must also be sent to the Registrar of Companies.

Office

Elkington and Hartigan (2007) define ______ models for social ventures.

______is known as the father of scientific management.

A plan must be________

____________ managers are responsible for hiring and developing employees

_________ is a systematic way of doing things.

_________ is the process of arranging and all locating work, authority, and resources among an organization's members so they can achieve the organization's goals.

_____ is deliberate arrangement of people to accomplish some specific purpose

Managers can be differentiated into the following, except ,,,,,,,,,,,,,,,,

________ may be structured in many forms, including sole proprietors, for-profit and not-for-profit firms, non-governmental organizations, youth groups, community organizations, and more.

When a manager performs duties such as greeting visitors, speaking at functions, taking important customers to lunch etc. This role is known as

____________ skill is highly necessary at the lower level of management

___________ is an offer of shares to the public, and must also be sent to the Registrar of Companies.

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