Summative Test

Name: ____________________ Date: _____________

Section: ________

Identification: Choose the correct answer from the box below

__________1. This is a transaction between two parties where the buyer receives goods, service and/or assets in
exchange for money?
__________2. This Encompasses program businesses use to reach and persuade prospects, including advertisement,
relations, direct mail and more.
__________3. This method is also known as ‘cold turkey’ ‘survey’ or ‘new account’ method
__________4. This is method where a person or organization recommended to you by someone who feels that this
person or organization could benefit from you or your product
__________5. They are customers of the previous sales person who left the company
__________6. The selling houses sponsor such as trade shows and demonstration along with sales staff
__________7. Involve in finding and cultivating people in a community of territory who are willing to cooperate.
__________8. This is the most productive way to build up sales volume by means of using telephone
__________9. In this method the salesman plays a role of a keen observer as if what is going on ground
__________10. This is also known as the planning stage, it is essential in creating strategic customer relationship
Identification: Identify the answers in the statement provided.
__________11. These are the individuals outside a company who wants financial information the company
__________12. These are the individuals inside a company who plan, organize and run the business.
__________13. This activity is reporting the collected information to interested users by means of accounting report.
__________14. This activity is the documentation of events in order to provide a history of it’s financial activities.
__________15. This activity is the selection of the economic events relevant to the business.
__________16. What are the resources business owns?
__________17. What is the claims against assets?
__________18. What are the owner’s claim on assets?
__________19. Owner’s investment and revenues _______ Owner’s Equity?
__________20. Owner’s Drawing and expenses ________ Owner’s Equity?
Marketing Selling Cold canvassing Referral Orphaned Customers Prospecting on the web Public Exhibitions
Center of influence Networking Observation Telephone Prospecting Approach Prospecting Pre-Approach
External User Internal User Recording Identification Communication Assets Liabilities Owner’s Equity Increase
Decrease

True or False: Write true if the statement is correct and false if the statement is incorrect
___________1. The basic consumer rights has 10 rights
___________2. The first right in the basic consumer rights is the right to healthy environment
___________3. The right to express consumer interest in making and execution of government policies.
___________4. The seller’s duty after sale is to deliver the possession of property
___________5. The seller’s duty before sale is to disclose any material before sale
___________6. Financial Management cover the presentation of financial statements?
___________7. Financial Accounting is the presentation of financial statement that summarizes the past events?
___________8. Management Accounting is the provision of detailed information about the current and future events
___________9. Treasury is only found on small companies
___________10. There are 5 accounting subsets

Multiple choice: Choose the correct letter to the answer, write the letter to the space provided
___________1. This is the Probable future sacrifice of economic benefits
A. Assets
B. Liabilities
C. Owner’s Equity
D. Revenue
____________2. This is the Increase in economic resources
A. Revenue
B. Expenses
C. Gains
D. Losses
___________3. This is the probable future economic benefit
A. Assets
B. Liabilities
C. Owner’s Equity
D. Revenue
__________4. This is the Decrease in economic resources
A. Revenue
B. Expenses
C. Gains
D. Losses
__________5. These are the residual interest (assets-Liabilities)
A. Assets
B. Liabilities
C. Owner’s Equity
D. Revenue
__________6. This is the brand mark or symbol that serves as the face of your brand.
A. Logo
B. Tagline
C. Presentation
D. Poster
__________7. This is the memorable phrase that provides consumers with a quick indication of your product, brand, and
market position.
A. Tagline
B. motto
C. catchphrase
D. description
__________8. This is the attribute in swot analysis that is considered to be necessary for the ultimate success of a
project.
A. Strength
B. Weakness
C. opportunity
D. Threat
__________9. This is a factor in swot analysis that could prevent successful results within a project
A. Strength
B. Weakness
C. opportunity
D. Threat
__________10. This is classified in the swot analysis as external elements that might be helpful in achieving goals set for
the project
A. Strength
B. Weakness
C. opportunity
D. Threat