A.

IDENTIFICATION: MULTIPLE CHOICE (2points each)

1. Entrepreneur is derived from ___________word ___________it means__________ and literally
translated means “between-taker” or “go- between”.
a. greek word entrependre to control
b. the French word ‘enterprendre’ “to undertake”
c. English word entreprendre to risk
d. All of the above
e. None of the above

2. ENTREPRENEURSHIP is
a. The process of creating something new with value of devoting the necessary time and effort,
assuming the accompanying financial, psychic and social risk monetary and personal
satisfaction and receiving the resulting rewards of and independence.
b. the activity of setting up a business
c. the willingness to start a new business.
d. All of the above
e. None of the above
3. A person that puts money into a project or small business, with the hope of eventually receiving
profit.
a. Business man
b. Entrepreneur
c. Investor
d. All of the above
e. None of the above
4. All are characteristics of an enterprise except one:
a. Being able to identify an opportunity
b. Being innovative
c. Being able to sell
d. Being able to maximize resources
e. All of the above
5. A kind of business that provides intangible goods or services to customers. It usually generates
profit by charging for labor or other services rendered to consumers, government or other
companies.
a. Merchandising Business
b. Service Business
c. Manufacturing Business
d. All of the above
e. None of the above
6. A sample of this business are buy and sell, and whole and retail. They usually generate profit by
providing markup price on their goods available for sale.
a. Merchandising Business
b. Service Business
c. Manufacturing Business
d. All of the above
 e. None of the above
7. Car manufacturers, Wine and soft drinks producers, Electronic parts manufacturers, Producers
of drugs and other medical products are example of what kind of business?
a. Merchandising Business
b. Service Business
c. Manufacturing Business
d. All of the above
e. None of the above
8. The following are example and a characteristics of a sole proprietorship except one:
a. Sari-sari Store
b. Self-Employment
c. Close personal relation
d. All of the above
e. None of the above
9. A kind of business that requires two or more people who agree to contribute assets, with the
intent of dividing profits among all parties involved.
a. Sole Proprietorship
b. Partnership
c. Corporation
d. All of the above
e. None of the above
10. All are a characteristics and benefits of a Partnership except one:
a. Easy to start
b. Not dependent on one person
c. Diversity of skills
d. All of the above
e. None of the above

B. IDENTIFY THE FOLLOWING

1. Andoy is a Balot and Penoy vendor, he use facebook and Instagram to sell his product. ANDOY
considered as;
a. Sole proprietorship
b. An entrepreneur
c. A Businessman
d. None of the above
e. All of the above
2. In which of the following situations would it be most advantageous for a company to outsource
a portion of its production to a qualified independent vendor?
A. Production has been switched from a batch to a continuous-flow process, and efficiency
in all phases of production has increased.
B. Several new production lines have been recently added, but future demand for the
product is likely to drop due to a recession.
 C. Production facilities are operating close to full capacity, and managers expect a rapid
increase in demand for the product.
D. A new product has just been added to the product line, but problems with quality
control have not yet been eliminated
3. When a company implements a just-in time system for manufacturing inputs, it is most
important to ensure that:
A. bulk rates for inputs are available from suppliers.
B. deliveries of inputs are scheduled during slack periods of production.
C. sufficient storage facilities for inputs are available.
D. deliveries of inputs from suppliers will not be interrupted.

4. Which of the following is likely to be one advantage of reducing the number of management levels in
a company's organizational structure?

A. decreasing task differentiation and employee specialization

B. increasing the flexibility of decision making

C. decreasing the workload for middle level managers

D. increasing morale and motivation among employees

5. Which of the following is one advantage to a business of hiring independent contractors to work on
projects rather than hiring regular full-time or part-time employees?

A. Staffing levels can be more easily adjusted to reflect the changing needs of the company.

B. Independent contractors are more likely to provide innovative ideas and bring new solutions to
the business.

C. Independent contractors are more likely to quickly embrace the corporate culture of the
business.

D. The supply of workers who are looking for freelance jobs is likely to be greater than those
looking for permanent positions

C. ENUMERATION (1 point each)

1. Kinds of business according to size
a.
b.
c.

2. kinds of Business according to its operation

a.

b.

c.
3. GIVE 3 ADVANTAGE AND 3 DISADVANTAGE OF THE FOLLOWING:

a. sole proprietorship

ADVANTAGES:

1.

2.

DISADVANTAGE

b. partnership

ADVANTAGES:

1.

2.

DISADVANTAGE

c. corporation

ADVANTAGES:

1.

2.

DISADVANTAGE

3
4. 3 MONEY RULES
1.
2.
3.

5. WHAT ARE THE DIFFERENCE BETWEEN BUSINESSMAN AND AN ENTREPRENEUR?

1.
2.
3.
6. TRUE OF FALSE
1. Small Enterprises Total Assets- between Php 3 million and Php 5 million Employ between 10
and 99 people.
2. Micro Enterprises Total Assets- between Php 3 million and below Employ people between 1
to 10.
3. Large Enterprises Total Assets- between Php 5 million and Php 15 million Employ between
99 people and above.
4. Hotel and Restaurant is an example of manufacturing business operation
5. Transportation companies, such as airlines, shipping, land tours and forwarders is an
example of service business.

Give the meaning of the following Acronyms (2pts)

1. A. DOLE-
2. B. BIR
3. C. NHA
4. D. POEA
5. E. DTI