Final Examination

Entrepreneurship

Name: . Section: .
Multiple Choice:
Instructions: Fill in the blanks with the letter of the correct answer
1. The activities that are involved in making people aware of a company’s products, making sure that the products are
available to be bought.
a. market b. marketing plan c. marketing information d. marketing
2. Why is it important to prepare a marketing plan?
a. it helps in avoiding future uncertainties c. it helps in attaining your objectives
b. it helps the customers in getting full satisfaction d. all of the above
3. In identifying your product benefit, you need to:
a. write down everything about your target customer c. write down what problems your products solves
b. create the place of distribution section d. prepare the budget
4. The following are some of the information you need in identifying your target customers EXCEPT:
a. price b. age c. income d. occupation
5. A document containing the marketing objectives, marketing strategies, and the activities that will be undertaken to
execute these strategies
a. financial plan b. marketing plan c. organizational plan d. marketing
6. Which of the following is a step in preparing a marketing plan?
a. selecting a solution c. evaluating choices
b. making a purchase d. identify your target audience/customer
7. Style, brand name, quality of materials, packaging, and warranties are what areas of decision making in developing
the marketing mix?
a. product b. price c. place of distribution d. promotion
8. Media alternatives, advertising, use of social networks, and publicity efforts such as displays, flyers, coupon and
special events are what areas of decision making in developing the marketing mix?
a. product b. price c. place of distribution d. promotion
9. Which promotional activity has the most convincing power to attract customer?
a. flyers b. radio/TV advertisement c. giveaways and freebies d. internet publicity
10. Which among the following is the basic form of marketing?
a. persuasion or personal selling c. print ads
b. brochures d. sales promotions
11. The section of the business plan that identifies the form of ownership the business venture will take.
a. financial plan b. marketing plan c. organizational plan d. marketing
12. A form of business ownership consisting of a single person who makes all decision and risk is shouldered alone.
a. cooperative b. partnership c. corporation d. sole proprietorship
13. The following are characteristics of a partnersh ip form of business EXCEPT:
a. no limit on number of stockholders c. moderate ability to raise capital
b. cost and ease of starting is low and easy d. death or retirement of general partners dissolves the business
14. The sum of money or the profits received by shareholders or investors from joining/investing in a corporation.
a. dividend b. income c. stocks d. sales
15. Which among the following forms of business ownerships would NEVER secure a loan in a locally known financing
neighborhood called “bombay" for capital.
a. small cooperative b. partnership c. corporation d. sole proprietorship
16. Why is a corporation not affected upon the death or withdrawal of a shareholder?
a. stockholders typically not liable beyond their investment
b. majority stockholders have control from a legal standpoint
c. stockholders can share in profits through dividends
d. shares of stock are transferrable or can be sold to other individual or companies.
17. An arrangement where one party grants or license another party the rights to use its trademark or business name
a. franchising b. corporation c. cooperative d. partnership
18. Which among the following stores engages franchising in their current business undertakings.
a. Palawan pawnshop b. LBC c. Petron gasoline d. 1st Valley bank
19. If someone sues against a sole proprietorship, who is responsible for the debt?
a. stockholders b. partners c. owner d. members
20. Is an organization usually a group of people authorized by the state to act as a single entity and recognized as such
in a law for certain purposes
a. cooperative b. partnership c. corporation d. sole proprietorship
 21. Which of the following is an example of a sole proprietorship form of ownership?
a. a family-owned and family-run grocery stores in which each family member has a share of ownership
b. a team of doctors who share ownership of a group practice which includes clinics and pharmacies
c. a professional dance instructor who employs assistant to help with scheduling and other task
d. a mother and daughter team who jointly own a small town laundry shop
22. Provide a summary of the projected sales, the cost of goods sold, & the general administrative expenses of the
business, at least for the first year, and typically for three years.
a. financial plan b. marketing plan c. organizational plan d. marketing
23. The excess of all assets over all liabilities. Also known as the net worth of the business.
a. assets b. liabilities c. owner’s equity d. capital
24. Liabilities that must be paid beyond one year.
a. long term payable c. long term liabilities
b. short term payable d. short term liabilities
25. Refers to everything that the business owns that can be used to create value.
a. liabilities b. dividend c. owner’s equity d. assets
26. Represent everything that the business owes to banks and other creditors.
a. liabilities b. dividend c. owner’s equity d. assets
27. If you own a small business, you will need to know how to calculate your profit. Which one is a calculation of profit?
a. Sales – no. of months in a year c. Total sales – total expenses
b. Total sales + total expenses d. Price x no. of units sold
28. Sales can be determined by:
a. multiplying no. of units sold to price c. deducting the price of item to the no of items sold
b. adding no. of units sold to price d. none of the above
29. Which among the following is an important factor to consider in choosing a location for your business?
a. security b. accessibility c. business rates d. all of the above
30. Utilities usually includes the following:
a. taxes and licenses c. equipment and furniture
b. labor requirements d. water and energy requirements
31. A section of the business plan where you can see the business name, address, and names of owners.
a. introductory page b. executive summary c. appendices d. none of the above
32. Highlights of the business plan summarized in two or three pages.
a. introductory page b. executive summary c. appendices d. timetable
33. Marketing mix or the 4P’s in marketing are the following:
a. product, purchase, price, place c. plan, production, place, promotion
b. product, price, place, promotion d. price, place, promotion, plan
34. A unique design, symbol, words, or a combination of these employed in creating an image that defines identifies a
product from its competitors.
a. logo b. brand c. name d. image
35. What is the advantage of using ACRONYMS in brands
a. credibility b. visually appealing c. easy to recall d. verbally appealing
36. Something that a person must have in order to live or succeed.
a. need b. want c. desire d. power
37. Before a customer buys your product, what is the first stage he/she does?
a. evaluate choices b. seek or retrieve information c. recognize a need or want d. assess the product
38. “FaceBuko”, “BreadPitt”, “Libing Things” incorporates what brand elements?
a. Memorable b. Meaningful c. Likeable d. Humorous
39. The use of social media platforms to connect with your audience to build your brand, increase sales.
a. buzz marketing b. sales promotion c. social media marketing d. mega sale
40. Happens when a company cannot pay its debt and obligations
a. business succession b. selling the business c. bankruptcy d. none of the above

II. 10 Points
Create your own personal brand name for your business and make a “Tagline”. Do not copy existing brands. Be creative.
Example: Rexona (Brand name), “It won’t let you down”(Tagline)….…Jollibee (Brand Name), “Langhap Sarap” (Tagline)
BDO (Brand name), “We find ways” (Tagline)..... ABS-CBN(Brand name), In the Service of the Filipino(Tagline)

Brand Name: ……………………………………………………………………………………………………………………………..

Tagline: ……………………………………………………………………………………………………………………………………..