CFPJ (CARLITO F. PENTECOSTES JR.

) NATIONAL HIGH SCHOOL

SUMMATIVE 2 – ENTREPRENEURSHIP

Name: _________________________________________
Strand: _______________ Score: _________

TRUE OR FALSE – Directions: Read each sentence and write TRUE if the statement is correct and FALSE if the statement
is wrong.

1. Production section shows the area, equipment and materials needed for business.
2. A part of business plan which is the first to be presented but the last to be made is the Introduction.
3. Suppliers are the business owners and without them the business will not live.
4. Product description provides customers with details around the features and benefits of the product so they will
buy.
5. Machine is a part of production that discusses about the manufacturing equipment to be used.
6. Revenue is recognized when earned, whether paid in cash or charged to the account of the customer.
7. Entrepreneurs should not always present the assumptions to consider in projecting costs. May it be cost of goods
sold or operating expenses.
8. Merchandise Inventory, end refers to goods and merchandise left at the end of operation or accounting period.
9. Marketing plans are intended to capture a market portion and to setback competitors.
10. Educational qualification is the only manpower criteria that must be highly considered by the entrepreneur.
11. The Entrepreneur may consider cost, quality, availability, credibility of suppliers and waste that the raw material
may produce.
12. One of the important early steps in the inventing process is making a prototype.
13. The features of the product or service merely provide a descriptive fact about the product or service.
14. Marketing section shows how you will manage your business and the people you need to help you in operations.
15. Business model will be your guide in the moment you will be implementing and operating your business proposal.

IDENTIFICATION: Identify the following. (2 points each)

________________1. Refers to the merchandise or goods purchased.

________________2. The transformation cost associated with the delivery goods from a supplier to the receiving entity.
________________3. This refers to goods and merchandise at the beginning of operation of business or accounting period.
________________4. It is used to influence people to work for your enterprise, to secure credit from suppliers, and to
fascinate potentials customers.
________________5. This are the goods and merchandise left at the end of operation or accounting period.
________________6. The Net amount of purchases to arrive with cost of goods available from the sale from which the
merchandise inventory end is subtracted.
________________7. This is the section of the business plan shows the design of your product/service pricing, where you
will introduce your product/service to your market.
________________8. It is used especially when the nature of business is merchandising or retail.
________________9. The vale of all sales of goods and services recognized by a company in a period. It is referred also to
as Sales and Income.
________________10. It is used to record revenues earned by rendering services.

Prepared by: Norigay B. Gallardo Noted By: Violeta B. Saguiguit

Subject Teacher MT1/TIC