Republic of the Philippines

DEPARTMENT OF EDUCATION
Region XI
Division of Compostela Valley
Monkayo National High School
First Quarterly Exam
IN
ENTREPRENEURSHIP
School Year 2019 – 2020
Name: _______________________________________ Date : ____________________
Grade & Section: _______________________________ Score : ____________________

Test I. Multiple Choice: Encircle the letter of the correct answer.

1. The following are the basic guidelines for a successful business plan implementation EXCEPT.
a. Clear objectives c. Clear accountability
b. Undefined roles d. All of the above
2. Accounting represents the whole_______________..
a. Financial operation c. Accounting process
b. Bookkeeping process d. None of the above
3. Before starting a business, entrepreneurs should seek professional advice from ______.
a. Public School Teacher c. Business consultant
b. Engineer d. Barangay Captain
4. This agency is responsible for registering business trade name.
a. SEC c. DTI
b. BIR d. BSP
5. Starting a business in a city or municipality requires ______.
a. SSS c. BSP
b. Philhealth d. Mayor’s Permit
6. The process used to determine what products or services may be of interest to customers, and
the strategy to use in sales, communications and business development.
a. Selling c. Management
b. Marketing d. Production
7. One of an organization’s most valuable and expensive marketing resources.
a. Product c. Asset
b. Marketing d. Sales force
8. Which of the following does NOT belong to the ways of connecting to buyers?
a. Be honest about the product c. Practice breaking the ice with customers
b. Anticipate the customers’ motivation d. None of the above
9. The three kinds of records you have to keep in bookkeeping are the_________
a. Journal, Ledger, Subsidiry accounts
b. Journal, Ledger, Subsidairy books
c. Journal, Ledger, Subsidiary accounts
d. Journal, Ledger, Subsidiary books
10. The ways not to determine possible products/services that will meet the need of the market?
a. Get ideas from existing business b. Observe the environment c. create a unique or
new product d. Both a & c
11. In what stage of effective product development process we can create a prototype product or pilot
service.
a. Idea generation b. Concept definition c. Concept development d. Idea
distillation
12. How are you going to screen the proposed solutions?
a. Used of Viability b. looking the profitability c. Idea screening d. none of the
above
13. Target marketing allows you to focus your __________________
a. marketing plan b. operational plan c. Brand message d. none of the above
14. It is the study of the spending characteristics and purchasing power of the consumers within your
business’s geographic area of operation.
a. Marketing plan b. Marketing survey c. Marketing mix d. All of the above
15. What affects the perception of your product and its demand?
a. Existing products b. consumer c. pricing d. government
16. Increase your product recognition and sales..
a. existing products b. consumer c. distribution channels d. promotion
17. One of the major pricing strategies are the following:
a. Market penetration b. Market slimming c. Market price d. Market offer

18. A statement that summarizes a company's assets, liabilities and shareholders' equity at a specific
point in time.
a. Income Statement c. Balance Sheet
b. Financial Statement d. Cash Flow
19. The following are the advantages of record keeping except.
a. You will know how much you have spent and how you spend it.
b. You will not know why you are making a profit or losing money.
 c. It can help you in the monitoring and controlling of your stock levels.
d. You can keep records of buying and selling on credit.
20. The money spent or cost incurred in an organization’s efforts to generate revenue.
a. Expense c. Accounts payable
b. Income d. Operating cost

Test II. Enumerate the following. Write your

answer on the space provided.

1-4. The 4Ms of Operations (in any order)

___________________
___________________
___________________
___________________

5-8. Strategies in validating the product. (in any order)

___________________
___________________
___________________
___________________

9-10. Developing a product description. (in any order)

__________________
__________________

11-20 Content Structure of a Formal Business Plan

___________________
___________________
___________________
___________________
___________________
___________________
___________________

Test III.

1. Illustrate the flow/ process of a Value/ Supply chain.

2. Alexander is a bookkeeper of Ryan’s Marketing. If you were Alexander how are you going to
record in the Journal the following:

 August 19, 2019 - Ryan invested cash worth P 1000, 000 on his business
 August 20, 2019 – A purchased of Machine amounting to P 500, 000 to be use in the
business.

Test IV.

What is the importance of creating a business plan?