60

Archdiocesan School of San Fabian, Inc.

San Fabian, Pangasinan
ENTREPRENEURSHIP
Subject Teacher: Mr. Ericson C. Ungria
MIDTERM EXAM
(SAINT MARY)

NAME: __________________________ DATE: ____________

SECTION: ________________ SCORE: _________

Test I. Multiple Choice

Direction: Read the following sentences carefully and choose the letter of the
correct answer. Encircle the letter that corresponds to the correct answer.
1.Why is it important for an entrepreneur to have problem solving skills?
A. They need to be able to find solution quickly
B. They can find solutions and turn such problems into opportunities
C. They can see where things go wrong and make necessary changes
D. All of the above
2. Which of the following is not a form of business organization based on ownership?
A. Sole Proprietorship B. Partnership C. Service D. Corporation
3. Why is being an entrepreneur risky?
A. Because entrepreneurs always fail.
B. Because people don't trust entrepreneurs.
C. Because you often risk your own personal wealth.
D. Because there are no more creative enterprises to create a business .
4. Bill Gates is probably all of the following EXCEPT:
A. an effective communicator
B. independent.
C. someone who relies on the opinions of others.
D. a risk-taker.
5. Which of the following is the definition of sole proprietorship?
A. A form of business owned by one person.
B. A form of business owned by two or more persons.
C. A business organized as a separate legal entity under the corporation law.
D. None of the choices
6. A successful sole proprietorship must exhibit all the following except:
A. Leadership skills
B. Bee fully responsible for the firm performance
C. Organization Skills
D. Be willing to work 60 hours per week.
7. Which of the following is the definition of partnership?
A. A form of business owned by one person.
B. A form of business owned by two or more persons.
C. A business organized as a separate legal entity under the corporation law.
D. None of the choices
8. Which of the following is the definition of corporation?
A. A form of business owned by one person
B. A form of business owned by two or more persons.
C. business organized as a separate legal entity under the corporation law with ownership
divided into transferable shares of stocks.
D. None of the choices
9. The following are the advantages of sole proprietorship, except?
A. Ease of Formation B. Low Start Up Cost
C. Limited Liability D. Double Taxation
10. Which of the following is the disadvantage of sole proprietorship?
A. Ease of Formation B. Low Start Up Cost
C. Limited Liability D. Double Taxation
11.If you are the owner of a coffee business, which among the choices will you not
applying or disadvantages of Sole proprietorship?
A. Larger Talent Pool B. Greater likelihood of professional management.
C. Single Taxation D. None of the choices
12. If you have a partner in a milk tea shop, which among the choices is the
advantage of partnership?
A. Double Taxation B. Reliance on one person
C. Freedom D. Possibility of Conflict
13.From the given choices, applying the advantages of corporation which of the
following is not belong to the choices?
A. Limited Liability B. Greater likelihood of professional management
C. Easier access to money D. Low Startup cost
14. If you possess excellent organizational skills, but are risk-averse and don't like
taking initiative, would being an entrepreneur be a good profession for you?
A. No, entrepreneurs should rely on others to organize the business.
B. No, entrepreneurs must be risk-takers who take initiative and have excellent
organizational skills.
C. Yes, entrepreneurs should be risk tolerance.
D. Yes, all you need is good organizational skills.
15. Which of the following are disadvantage of corporation?
A. Unlimited Life B. Double Taxation
C. Limited Liability D. Greater likelihood of professional management
16. Which of the following is a sole proprietorship?
A. Mang Eric’s Sarisari Store B. Jollibee C. Globe, Inc.
17. A type of corporation where anyone can invest by buying shares so unlimited
number of owners.
A. Private Corporation B. Public Corporation C. Professional Corporation
18. Which is not a type of partnership?
A. Unlimited B. Limited C. Public D. General
19. Which of the following is an advantage of corporation from the point of view of
stockholders?
A. Easy to Raise Capital
B. May earn a profit without working.
C. Separation of ownership from management
D. Longevity
20. It is a set of controllable and interrelated variables composed of product,
place, price and promotions that a company assembles to satisfy a target
group better than its competitor.
A. Marketing Mix B. Price C. Packaging D. Product
21. The amount that a customer pays for to enjoy it.
A. Marketing Mix B. Price C. Packaging D. Product
22. An item that is produced to satisfy the needs of a certain group of people.
A. Process B. Price C. Packaging D. Product
23. It is a tangible product. Its example includes tires, MP3 players, clothing
etc. A. Branding B. Positioning C.
Place D. Goods
24. It can be intangible or tangible as it can be in the form of services or
goods. A. Process B. Price C.
Packaging D. Product
25. The way your product or service appears from the outside.
A. Process B. Price C. Packaging D. Product
26. A marketing model that modifies the 4Ps model.
A. Marketing Mix B. 7 P’s C. 4 M’s D. 4 P’s
27. Responsible for every element of your sales, marketing strategies, and
activities.
A. People B. Price C. Packaging D. Product
28. It is intangible. Its example includes hair salons and accounting firms
A. Services B. Place C. Brand Name D. Promotion
29. The ultimate marketing strategy.
A. Marketing Mix B. 7 P’s model C. Branding D. People
30. Is where your product or service is actually sold?
A. Services B. Place C. Brand Name D. Promotion
31. The place occupied by products in the heart and minds of the consumers.
A. Branding B. Place C. Positioning D. Promotion
32. A name, symbol, or other feature that distinguishes a seller's goods or
services in the marketplace.
A. Branding B. Place C. Positioning D. Brand Name
33. A powerful and sustainable high-level marketing strategy used to create
or influence a brand.
A. Branding B. Place C. Positioning D. Brand Name
34. As an entrepreneur, your brand is your ______________.
A. Slogan B. Logo C. Website D. Reputation
35. Which of the following is a requirement for entrepreneurial success?
A. The ability to be reliable B. High-tech solutions
C. A unique personality D. A lot of money
36. Which answer below best defines the most important aspects of your brand?
A. What your competitors say about you, and how much money you spend on advertising
B. Your website and your marketing brochures
C. What you say about your business and the actions that build your reputation
D. Your website and your marketing brochures
37. The most important factor in the production
A. People B. Product C. Place D. Position
38. Cost, quality and availability should be considered in choosing ______.
A. Material B. Machine C. Method D. Manpower
39. Determine what should be sold_______.
A. Skills for work B. Product to produce C. Mode of production D. Equipment
40. Employee Qualification except one
A. Educational Background B. Work Attitude C. Work Experience D. Application Letter
41. It is used to make new products?
A. Material B. Machine C. Method D. Manpower
42. 4Ms of Operations except one
A. Money B. Machine C. Method D. Manpower
43. When a company pays to promote ideas, goods, or services in media outlets
A. Public relations B. Sales Promotion C. Direct selling D. Advertising
44. ____________ and _____________ are internal factors that affect a business operation.
A. Opportunities and Threats B. Strengths and Opportunities
C. Weaknesses and Threats D. Strengths and Weaknesses
45. It pertains to anything used as inputs to production.
A. Money B. Machine C. Method D. Manpower

46-47. What is the purpose of a business plan? (Choose 2 correct answers)

A. States the amount of capital you need to run the company
B. States the purpose and vision of your company
C. To document your financial activity for one year
D. It is required by law
48-50. Why do you need a business plan? (choose 3 correct answers)
A. To raise capital
B. It is required by law
C. To help your team and investors understand your vision for the company.
D. To align your full staff toward a collective goal or objective for the company.
E. To waste your precious time and money.
F. It helps you set clear goals and guidelines for how you will manage your business.

“If you want to be successful, learn from other people’s mistakes, not their successes.
No matter how smart you are, you will encounter these mistakes, and you’ll know how
to deal with them.” – Jack Ma

Prepared by:
Mr.Ericson C. Ungria, Lpt
Subject Teacher

Checked by:
Mrs. Michelle C. Juguilon, Lpt
SHS Coordinator
Noted:

Mr. Sandy Aquin Lpt, MED

Assistant Principal

Mr. Leonardo A. Carrera Ll.B. MaEd

School Principal