Republic of the Philippines

Department of Education
NATIONAL CAPITAL REGION
SCHOOLS DIVISION OFFICE OF QUEZON CITY

SECOND PERIODICAL TEST IN ENTREPRENEURSHIP

SY 2023 – 2024

Directions: Read each question carefully and choose the letter of the best answer. Write your answer in your
answer sheet.

1. A well-written document acts as a strategic tool that guides the development, growth, and success of a
business. It helps stakeholders understand the company's vision, strategy, and financial prospects while
providing a roadmap for achieving the business's goals.

A. Business plan B. Feasibility study C. Marketing plan D. Financial plan

2. Which of the following guidelines for successful business implementation describe the details that must be
done to achieve the objectives?

A. Objectives and values B. Vision and goals C. Role and task D. Progress and development

3. The process of systematically recording, organizing, and maintaining financial business transactions and
records of a business or organization. It involves accurately tracking and documenting financial activities,
such as purchases, sales, expenses, and receipts, systematically.

A. Collecting and recording quantitative data.

B. Mathematics and numerical operations
C. Bookkeeping
D. Accounting

4. The overall management team leader needs to oversee the monitoring of each task’s progress and the
completion percentage of each objective.
A. Objectives and values B. Vision and goals C. Role and task D. Progress and development

5. It is a business's overall plan for reaching prospective customers and describes a value proposition and key
messages, and it has information about who the target market is - where they shop and what drives them
to make a purchase.

A. Marketing goal B. Marketing mix C. Marketing Plan D. Marketing strategy

6. Benefits like health insurance, retirement plans, paid time off, and flexible work arrangements can increase
employee happiness and productivity while also helping to attract and keep top talent in the company’s
recruitment process. This is reflected in the?

A. The 4 M’s of business operation

B. Recruit qualified people for one’s business enterprise.
C. Company’s financial statements and performance.
D. Performing key bookkeeping tasks to generate funds for employees’ benefits.

7. Refers to the value we pay in exchange for the product and services offered by a company.
A. Packaging B. Place C. Price D. Product

8. Refers to specific and thoughtful advertising that reaches the target market for the product.

A. Packaging B. Place C. Product D. Promotion

9. Refers to where consumers buy your product, or where they discover it. Today's consumers may learn
about products and buy them online, through a smartphone app, at retail locations, or through a sales
professional.

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 A. Packaging B. Place C. Product D. Promotion

10. the process to be followed effectively in manufacturing or delivering a product or service.

A. Manpower B. Methods C. Machine D. Materials

11. Develops the habit of thinking continually about how the products are positioned in the hearts and minds
of customers.
A. Packaging B. Place C. Positioning D. Product

12. To be successful in business, an entrepreneur must develop thinking skills in terms of exactly who is
going to carry out each task and responsibility.
A. Manpower B. Methods C. Machine D. Materials

13. A key marketing tool that effectively communicates the unique value, benefits, and competitive
advantage of a product or service. It helps businesses attract and retain customers by clearly
demonstrating why their offering is the best choice in the market.

A. Product value proposition B. Competitive advantage C. Niche Market D. Market share

14. A transaction that includes an exchange of services or goods for a certain amount of money. In other
words, any activity that involves transferring the ownership of a good or commodity to the buyer in
exchange for a monetary price.

A. Sales B. Expenses C. Turnover D. Income

15. One of the 4 Ms of production uses the inventory management system to establish what is needed and
at what inventory stock levels impact.

A. Machine B. Manpower C. Material D. Method

16. When examining the method, which is now in place, what is the ideal number of people it will take to
perform these methods and what positions should they be in?

A. Machine B. Manpower C. Material D. Method

17. Sourcing raw materials is critical in any business endeavor as the businessman would want to have the
cheapest possible at the highest quality.
A. Machine B. Manpower C. Material D. Method

18. This is needed in place to perform all parts of production and are they conveniently located to minimize
waste?
A. Machine B. Manpower C. Material D. Method

19. This study is next conducted once an entrepreneur has found information about potential consumers,
their requirements, and the likely share of the market that could be obtained for a new product, it is then
necessary to assess whether production is technically feasible.
A. Financial Feasibility
B. Management feasibility
C. Marketing feasibility
D. Technical feasibility

20. Which of the following helps decide the technical requirements of the business?
A. Is the cost of the raw materials satisfactory?
B. Are suitable packaging materials available and affordable?
C. Are distribution procedures to retailers or other sellers established?
D. All the above

21. Which of the following contents of production or technical feasibility that the plan should indicate how the
different stages in a process are linked together?
A. Equipment required B. Packaging C. Production planning D. Raw materials.

22. As with all marketing activity, it is an investment and creates opportunities for the product to be discovered
by the market.
A. Advertising B. Customer service C. Customer value D. Hiring employees
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 23. The decisions on equipment requirements are influenced by the following
A. The cost and availability of machinery
B. The availability of people who are skilled in maintenance and repair.
C. The availability and cost of spare parts and the possibilities of local equipment fabrication
D. All the above

24. Testing and assessment are one of the most objective ways of predicting job performance and company
fit. It must follow the same guidelines as any other hiring selection method (including resumes, interviews,
references, and background checks). The statement is about the__?
A. Application, recruitment, and selection process
B. Screening and pre-employment
C. Test and evaluation
D. Hiring and job offerings

25. Involves the decision on the number and types of workers that are required to operate the proposed
business are taken in conjunction with decisions on equipment procurement.
A. Equipment required B. Recruitment planning C. Production planning D. Staffing

26. Refers to a company's plan for making a profit. It identifies the products or services the business plans to
sell, its identified target market, and any anticipated expenses. This is important for both new and
established businesses.
A. Business model B. Marketing plan C. Business plan D. Business simulation

27. Which of the following are steps recommended in establishing the right business model?
A. Size the value of the solution in the target segment
B. Test the channel and supply strategy
C. Plan and execute a pilot or local output.
D. All the above

28. After completing the study of technical feasibility, the entrepreneur should have then sufficient information
to determine the amount of money that is needed to buy the facilities, and equipment to register and
licenses the business and get the necessary certificates.
A. Initial investment B. Opening stock C. Start-up capital D. Working capital

29. Also known as net working capital (NWC), is the difference between a company's current assets such as
cash, accounts receivable/customers' unpaid bills, and inventories of raw materials and finished goods -
and its current liabilities, such as accounts payable and debts.
A. Initial investment B. Operating capital C. Start-up capital D. Working capital

30. include both costs of goods sold (COGS) and other operating expenses - often called selling, general, and
administrative (SG&A) expenses.
A. Fixed cost B. Operating cost C. Variable cost D. None of the above

31. You can reduce a high staff turnover rate by acting on employee feedback, creating a strong recruitment
process, rewarding employees for hard work, providing opportunities for learning and development, and
prioritizing employee wellbeing. The statements above are referenced to?
A. Preparing a detailed business plan.
B. The 4 M’s of business operation.
C. Recruit qualified people for one’s business enterprise.
D. Company’s financial statements and performance.

32. One of the guidelines for successful business plan implementation must have a clear crystal and be
specifically spelled out.
A. Objectives and goals B. Progress and improvement C. Duties and responsibilities

33. A broader discipline that encompasses the entire process of analyzing, measuring, processing,
interpreting, and communicating financial information about an entity. It plays a vital role in providing
accurate and relevant financial information to stakeholders, facilitating transparency, accountability, and
informed decision-making in various contexts.

A. Collecting and recording quantitative data.

B. Mathematics and numerical operations
C. Bookkeeping
D. Accounting

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34. Each task should be paired with an appropriate lead time for completion, this is about?
A. Sustainability B. Measurable C. Attainable D. Timebound

35. Culture plays a significant role in shaping human behavior and attitudes, and it makes a difference in how
we view ourselves and others. When you hire the right people in a company, which of the following
organizational benefits is the most important to you as an employer?

A. Hiring people is part of investment in the company, you will slash the costs of the hiring process.
B. You won’t have to deal with the damage that a bad hire can do to your company.
C. You will preserve the morale of your internal teams and protect your organizational image.
D. Culture shapes the way we work and live and won’t let good candidates go out the door.

36. Once the partnership form of the business organization has been decided, there are basic requirements
to start commencing a business in the Philippines. Which of the following offices to which you register
your business trade name?
A. BIR registration B. DTI registration C. Mayor’s business permit D. SEC registration

37. Mr. Castro needs to register his employee contributions together with the company’s share of the
mandatory employee benefits under the Labor Code of the Philippines.
A. BIR B. DTI C. SEC D. Mandatory benefits (SSS, PagIbig, Philhealth, Life insurance)

38. Identifying and preparing a chart of accounts are just a few preliminary steps in the accounting cycle. An
account is a record of an accounting system that shows the changes in the amount or value of each
account. Which of the following is the process of recording business transactions in the book of account
so-called general journal?
A. Bookkeeping
B. Accounting equation
C. Journalizing
D. Financial statements
39. Journal Entry is the process of recording business transactions systematically and chronologically in an
official book of accounts. To ensure the accuracy of the records, the golden rules of the accounting
system must be applied.
A. Perform a bookkeeping task.
B. Record transactions in a single-entry book-keeping rule
C. Debit and credit rules
D. Journalizing and preparing general ledger.

40. Considered as the foundation of the double-entry accounting system.

A. Bookkeeping
B. Accounting equation
C. Classification and recording of Debit and Credit Accounts
D. Financial statements

41. Mr. D. Maguiba finds out that his sales declined because of the weak product image, to create a brand
image for a particular product, what does a business adjust to?
A. Marketing Mix
B. Recruitment and selection
C. Perform key bookkeeping tasks.
D. Prioritizing the growth of market share.

42. In business, the following are users of financial statements except one.
A. Management and Entrepreneurs
B. Borrowers and Consumers
C. Investors and Shareholders
D. Suppliers and Lenders

43. The rules that are considered the Golden Rules of Accounting. Without these rules, the world of
accounting would be an untidiness.
A. Rules in Double-entry bookkeeping
B. Accounting equation Rules
C. Debit and Credit Rules
D. Rules of Preparing Financial Statements.

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44. Some creditors and investors use this ratio to measure how effectively their company converts sales into
income.
A. Efficiency ratio B. Liquidity ratio C. Profitability ratio D. None of the above

45. Which of the following is NOT TRUE about liquidity ratio?

A. The ability to convert assets into cash quickly and cheaply.
B. Use to work out if a company can repay creditors from the total cash, they have available.
C. The higher the profit and inventory ratio the more able it’ll be to pay off short-term liabilities.
D. Assets and Creditors are not included in calculating the liquidity.

46. What is the net income of Mr. D. Maguiba if he incurred a total revenue of P96,545, with the cost of goods
sold amounting to P25,745 and the total operating expenses is P45,155?
A. P167,445
B. P25,645
C. P25,745
D. P122,290

47 – 50. In April 2023 Mr. Corpuz occurred the following transactions.

On April 01, invested P330,000 in his service business.
April 05, Received P 20,100 cash from a customer for services rendered.
April 08, he bought repair equipment on account, 50% payable within the year and a half amount is
long term payable amounting to P60,000
April 12, Withdraw P5,000 for personal use.
April 15, He paid utilities amounting to P15,000

47. Perform book-keeping tasks using a double-entry accounting system, then how much are the total debit
and credit records in a journal entry?
A. P415,100.00
B. P410,100.00
C. P430,100.00
D. P350,100.00

48. How much is the total net income in the statement of performance of Mr. Corpuz’s financial statements?
A. P5,100.00
B. P20,100.00
C. P350,100.00
D. P410,100.00

49. For the month ended April 30, 2023, Mr. Corpuz’s statement of capital and owner’s equity is?
A. P410,100.00
B. P350,100.00
C. P330,100.00
D. P270,100.00

50. The statement of financial position of Mr. Corpuz’s service business at the end of April 2023 is equal
to___________, this is also known as the balance sheet of the financial statement.
A. P65,100.00
B. P255,100.00
C. P325,100.00
D. P390,100.00

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