Northern Samar Colleges

Catarman, Northern Samar

FINAL EXAM
In
ENTREPRENEURSHIP
Grade 12

Name:________________________________________________________________Date:________
Grade/Strand/Section:___________________________________________________Score:________

STRICTLY NO ERASURES!
God is watching you!

TEST I. IDENTIFICATION

1. ____________________________If the marketing plan is being written after the business has already started,
its should describe present market conditions and how the company’s goods and services fare against those of
its competitors.
2. ____________________________ is a document containing the marketing objectives, marketing strategies, and
the activities that will be undertaken to execute these strategies.
3. ____________________________ this must be include a description. Aside from the physical characteristics.
4. ____________________________ entrepreneurs must make sure that they calculate both variable costs and
fixed costs.
5. ____________________________ are those incurred on each unit that is produced, such as direct labor, raw
material, commission given to salesperson, or the cost of packaging.
6. ____________________________refer to costs of thing such as facilities and equipment that do not change
with the number of units that are produced.
7. ____________________________ for start-up business, it is essential for the entrepreneur to make his product
known to his potential consumers.
8. ____________________________ the budget needed to execute the marketing strategies and activities can be
included in the marketing plan when prepared as a stand alone document.
9. ____________________________ is the section of the business plan that identifies the form of ownership the
business venture will take.
10. ____________________________ as its name implies, the sole proprietorship is owned by the individual who
starts the business, for which he has full responsibility.
11. ____________________________ there must be at least one general partner, and some limited partners.
12. ____________________________ owners are those that hold shares of stock.
13. ____________________________ sole proprietors typically depend on their own resource to finance business
operations.
14. ____________________________ this section of the organizational plan will show the reader of the business
plan who the principal owner of the business are, who constitutes the management team, and who provides
valuable advice to the business owners and/or management team.
15. ___________________________ one of the organizational plan could be a listing of the business owners and
their qualifications.
16. ___________________________ includes the financial projections of the new venture.
17. ___________________________ these refer to everything that the business owns that can be used to create
value.
18. ___________________________ these represent everything that the business owes to banks and other
creditors.
19. ___________________________ representing the excess of all assets over all liabilities, this is also known as the
net worth of the business.
20. ___________________________ refers to the volume of sales at which the business neither make a profit nor
incurs a loss.

TEST II –Write T if the statement is true and F if the statement is wrong.

Write the correct answer before the number

________21. Marketing plan is a document containing the marketing objectives, marketing strategies, and the
activities that will be undertaken to execute these strategies.
________22. Marketing strategies concerned the 4 P’s which product, price, place and plan.
________23. Pricing must include a description of the product or service that will be offered by the business.
________24. Product is an important consideration for many buyers, and must therefore be given appropriate
attention by the entrepreneur.
________25. Variable costs are those incurred on each unit that is produced, such as labor, raw material,
commission given to a salesperson, or the cost of packaging.
________26. Fixed costs refer to costs of things such as facilities and equipment that do not change with the
number of unit that is produced.
 ________27. Ownership is the section of the business plan that identifies the form of ownership the business
venture will take.
________28. Liabilities refers to everything that the business owns that can be used to create value.
________29. Owner’s equity representing the excess of all assets over all liabilities, this is known as the net
worth of the business.
________30. Assets refer to everything that the business owns that can be used to create value.
________31. Current liabilities must be paid within a year.
________32.Long-term liabilities must be paid beyond one year that can be considered.
________33. Breakeven analysis refers to the volume of sales point indicates how many costs and expenses.
________34. Projected balance sheet must also be able to project the condition of his business by the end of the
first year.
________35. Income statement includes the financial projections of the new venture.
________36. The death of ownership of the owner means the termination of the business as well of the sole
proprietorships.
________37. In a partnership, the death or withdrawal of a general partner signals will not end the partnership.
________38. Death or withdrawal of a stakeholder does not affect the existence of the business since shares of
stock are transferable.
________39. Marketing plan is a document containing the marketing objectives, marketing strategies, and the
activities that will be undertaken to execute these strategies.
________40. Marketing strategies concerned the 4 P’s which product, price, place and plan.

TEST III ENUMERATION

1. Determine the following about products or services that now exist in the market.

41. M-
42. A-
43. D-
44. I-
2. What are the steps in preparing the marketing plan.
45.
2
46.
47.
48.
49.
3. Enumerate the developing marketing strategy and action program
50.
51.
52.
53.
54.
4. What are the three basic legal forms of business ownership
55.
56.
57.
5. Pieces of information that are typically included in a partnership agreement are the following:
58.
59.
60.
61.
62.
6. What are the four types of Balance Sheet
63.
64.
65.
66.
7. Types of liabilities.
67.
68.
TEST IV

LEGAL FORMS OF BUSINESS OWNERSHIP

Things to Consider Sole Proprietorship Partnership Corporation

69. 70. 71. 72.

73. 74. 75. 76.

77. 78. 79. 80.

81. 82. 83. 84.

85. 86. 87. 88.

89. 90. 91. 92.

93. 94. 95. 96.

97. 98. 99. 100.

GOD BLESS!!!
Prepared by:

Ma. Soledad A. Somoray

SHS Teacher

Noted by:

Dr. Perla B. Bello

Academic Coordinator
Approved by:

Madam Leah-Moore Mangada

President
GOD BLESS!!!!
Prepared by:
MA. SOLEDAD A. SOMORAY
Subject