Professional Documents
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MIDTERM EXAMINATIONS
ENTREPRENEURSHIP
Time: 13H00 16H00 Date: 12 September 2017
INSTRUCTIONS TO STUDENTS
1. Answer ALL questions in SECTION A on the Answer Sheet provided at the
back of this Examination Paper and FOUR (4) questions from SECTION B in
the separate Answer Booklet provided.
2. Lay your work out clearly, using headings, sub-headings and paragraph
numbers.
3. The examination should be conducted in strict silence.
4. This is an open book exam, however, No consultations with seatmates during
the exam by a student.
5. Ensure that your Name, CHCC Permit No#, your ID Number are ALL
recorded on your Answer Booklet. No names should be recorded anywhere
on the Answer Booklet.
6. Failure to observe the rules and regulations set down by the SAIM will be
considered cheating and you will be disqualified from this examination and
any future SAIM examinations.
7. DO NOT START ANSWERING QUESTIONS UNTIL THE INVIGILATOR
TELLS YOU TO DO SO!
SECTION A
Answer ALL questions on the Answer Sheet at the Back of this Examination
Paper: 40 points
Page 1 of 5
Set Questions 2 (20 pts)
Match Column A to Column B.
Column A Column B
A Entrepreneurs who combine their technological and
2.1) Creativity
entrepreneurial skills.
2.2) Entrepreneurship B Owners who usually dont take risks.
2.3) Technopreneur C The possibility of putting an idea into practice.
D A method of distributing goods and services where
2.4) Small business owner trademarks, trade names and/or business systems are
used between business owners.
E To set out every imaginable aspect of the planned
2.5) Franchising
establishment of the enterprise.
F The ability to produce new and original ideas in order to
2.6) Business opportunity
solve a problem.
G Practicality and profitability. Transforming an idea to
2.7) Business idea
generate profit.
H Creating and building something of value in the midst
2.8) Feasibility
of uncertainty and risk.
I When an idea is feasible, viable and can be transformed
2.9) Viability
into an enterprise.
J The identification of a gap in the market for after sales
2.10) Business Plan
service of sporting equipment.
SECTION B
Answer any FOUR (4) Questions in the separate Answer Booklet provided:
60 pts.
3.3) A partnership,
a) has only one owner
b) has a minimum of two owners
c) has a maximum of two owners
d) has a maximum of twenty-one owners (2 pts)
Page 2 of 5
a) at least two directors
b) a name which ends with (Pty) Ltd
c) limited transferability of shares
d) at least one director (2 pts)
3.6)
Complete the following table with regard to the characteristics of a private
company.
Characteristic Private company
Number of members
Number of directors
Can the general public buy shares?
Do shares have limited or free transferability?
The company name must end with....
(5 pts)
ESSAY
Set Questions 4 (15 pts)
4.1) Explain the concept of a company having legal personality. (3 pts)
4.2) List the four (4) forms of business ownership and specify if each has legal
personality or not. (8 pts)
4.3) Describe the management structure of a sole proprietorship. (4 pts)
Page 3 of 5
7.1) The pricing of a product is very important, because sales generated provides
finance for the organisation to cover all costs and helps the organisation to
grow. If the organisation decides on a mark-up of 35% and the cost price is
106.00 per unit, calculate the selling price. Show all calculations. (4 pts)
7.2) List the four (4) categories of resources (8 pts)
7.3) The business operates in three (3) main environments. These environments
are internal or external, and exert great influence on the business. List these
environments. (3 pts)
Page 4 of 5
CONCEPCION HOLY CROSS COLLEGES INC.
2017 MIDTERM EXAMS
ENTREPRENEURSHIP
SECTION A: ANSWER SHEET
Number of Members
Number of Directors
Can the general public buy shares?
Do shares have limited or free transferability?
The company name must end with ....
Page 5 of 5