NATIONAL OPEN UNIVERSITY OF NIGERIA
91, CADASTRAL ZONE, NNAMDI AZIKIWE EXPRESSWAY, JABI, ABUJA
FACULTY OF MANAGEMENT SCIENCES
JULY 2018 EXAMINATION
Course Code: ENT 407 Credit Units: 2
Course Title: ENTREPRENEURSHIP DEVELOPMENT
Time Allowed: 2 Hours
Instructions: 1. Attempt question number one (1) and any other (2) questions.
2. Question number 1 carries 30 marks, while the other questions carry 20 marks each.
3. Present all your points in coherent and orderly manner
Question 1
a. In forecasting, a company should be able to decide on certain questions. These questions help in the decision making process of these companies. State five of these questions. (5 marks)
b. List and explain the six phases before new product is lunched into the market.(10 marks)
c. Define strategic planning and list and explain the Core Areas of Strategy.(15 marks)
Question 2
a. Distinguish between Cooperative Thrift and Credit Society (CTCS) and Traditional Ajo or Esusu. (10 marks)
b. List information required for better development of an entrepreneur. (10 marks)
Question 3
Discuss the National, Industrial and Local trends that can affect a business. (20 marks)
Question 4
a. State the benefits of Strategic Planning. (10 marks)
b. Identify and discuss the Sources of Information for Entrepreneurship Development. (10 marks)
Question 5
a. In a tabular form, explain the differences between an Income Statement and a Cash flow statement. (10 marks)
b. Using the table below, calculate the long term debt portion of a loan. (10 marks)
Loan amount
Payback
Interest
First-year
payment
First-year
current
portion
Long-term debt
₦10,000 (van)
3 years
10%
₦4,020
1,000 interest
3,020 principal
₦3,020
₦20,000 (equipment)
4 years
12%
₦6,584
2,400 interest
4,184 principal
₦4,184
₦100,000 (building)
15 years
10%
₦13,147
10,000 interest
3,147 principal
₦3,147
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