Quiz 1 Introduction To Msmes and The Magna Carta of Msmes 1221 Clwetax k31 Micro Small Medium Enterprises .

10/28/22, 10:35 PM Quiz 1: Introduction to MSMEs and the Magna Carta of MSMEs: [1221_CLWETAX_K31] - MICRO, SMALL & MEDIUM
1] - MICRO, SMALL & MEDIUM ENTERPRISES
QuizAnimoSpace
1: Introduction
Support
to MSMEs and the Magna Carta of MSMEs
Due No due date Points 20 Questions 20 Available Oct 28 at 9am - Oct 29 at 11:59pm
Time Limit 30 Minutes
Instructions
Quiz Guidelines
This is the second graded quiz covering the topics of Introduction to MSMEs and the Magna Carta of MSMEs (Module 01 and
part of 02).
In the following quiz, you are required to choose the best answer.
You are given 30 minutes to complete the exams per try and you cannot leave the quiz in the middle.
Quizzes that exceed the 30 minute time limit will not be considered.
Before submitting your answer on each number, please make sure that your answer is final. Once submitted it cannot be changed.
This is an independent quiz; do not work with others.
You may use class materials (including the textbook) during the quiz.
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Provide technical support for students here. Please see sample below.
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Attempt History
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10/28/22, 10:35 PM Quiz 1: Introduction to MSMEs and the Magna Carta of MSMEs: [1221_CLWETAX_K31] - MICRO, SMALL & MEDIUM ENTERPRISES
AnimoSpace Support Attempt Time Score

LATEST Attempt 1 27 minutes 15 out of 20
 Correct answers will be available Oct 29 at 2pm - Oct 29 at 4pm.
Score for this quiz: 15 out of 20

Submitted Oct 28 at 10:35pm
This attempt took 27 minutes.
Question 1 1 / 1 pts
Who among the following MSMEs can avail of the benefits provided for by RA 6977?
Send
The Bar operated by the wife of an American Retiree who financed the business but is registered in the
name of the Filipina Wife
The small branch of Banco de Oro at Taft Avenue.
The Computer and Internet Shop owned by a Chinese National.
The cigarette vendor located at the parking lot in between Starbucks and 7/11 behind Andrew Building
Course Chat 
AnimoSpace MSME
Support Development Council under RA 6977 cannot...
organize MSMEs to form local, regional and national organizations to help each other.
develop a medium term development plans to ensure a conducive environment for MSMEs.
work with other government agencies to provide support for MSMEs.
work for the decentralization of government offices to make it more accessible to MSMEs
Which of the following cannot be the Chairman of the Small Business Guarantee and Finance Send
Corporation?
The person appointed by the President to be the President of the Small Business Guarantee and Finance
Corporation.
The Secretary of Trade and Industry
The Secretary of Finance
The representative of the SSS
Course Chat 
AnimoSpace Support
The Secretary of Trade and Industry is the Chairman of the Small Business Corporation.
Which of the following accurately describes the above statement?
This is false because the Chairman is appointed by the President from among the members of the Board
This is true as the Small Business Corporation is under the Department of Trade and Industry
This is false because the Chairman is the President of the Small Business Corporation
This is true as the Small Business Corporation is created by RA 6977 Send
The economy of the Philippines is dependent on MSMEs.
Which of the following accurately describes the statement above?
Course Chat 
AnimoSpace Support
This is false because MSMEs, though a major part of the economy, is not the sole contributor to the
economy
This is true because MSMEs employs almost all the employees of the Philippines
This is true because MSMEs constitutes almost all of the businesses in the Philippines
This is false because the contribution of Large Enterprises to the economy are also substantial
What is the MSME Development Council not? Send
An independent Council to focus on the needs of MSMEs
A council composed of a country wide representation to help MSMEs
A council under the Department of Trade and Industry
A Council composed of multiple Cabinet Secretaries and representatives from various stakeholders of
MSMEs.
Course Chat 
AnimoSpace Support
Which of the following is not a program mandated by RA 6977?
Financing services for MSMEs
Training of entrepreneurs and labor to give them sufficient skills.
Subjecting the Council to oversight by Congress
Giving preferential treatment to MSMEs to help them operate.
Send
The effect of the pandemic to MSMEs cause the most serious impact on the Philippine Economy.
Which of the following accurately describes the statement above?
This is true because MSMEs constitutes almost all of the businesses in the Philippines
This is true because a lot of MSMEs have closed because of the pandemic
Course Chat 
AnimoSpace Support
This is false because while MSMEs closed, there are more MSME's that emerged during the pandemic
This is false because the MSMEs did not have much impact as the situation was temporary
The Secretary of Trade and Industry is the Chairman of the MSME Development Council.
Which of the following accurately describes the above statement?
This is true as the Council is a multi Departmental Council Send
This is false as the Chairman is voted from among the members of the council
This is true as the Council is under the Department of Trade and Industry
This is false as the Secretary of Trade and Industry in not part of the Council
Which best describes the Magna Carta of MSMEs? Course Chat 

AnimoSpace Support
Creates the MSME Development Council to govern government efforts to help MSMEs
It is the primary law that maps out government support for MSMEs
It is the law that provides for the rights of MSMEs.
ensures MSMEs will be successful in their endeavor
Incorrect
Which of the following is not a strategy of the Magna Carta to support MSMEs?
Ensure government gives MSMEs their fair share of government contracts.

Send
Require Large Enterprises to coordinate and deal with MSMEs
Protect the integrity of the Credit Facilities set up for MSMEs
Rally the private sector to help to grow MSMEs
Incorrect
Course Chat 
AnimoSpace Support
MSMEs are seen as the vehicle that...
will make the Filipinos richer
will empower Filipinos to achieve a better life.
will make the Filipinos more resilient to economic problems like the pandemic
will improve the quality of life of Filipinos
Send
The Government has focused on MSMEs for the recovery of the Philippine economy because...
It is found in most of the major industry.
It is the most cost efficient solution to the problem of economy.
It constitutes almost all the business in the Philippines.
It focuses on mostly Filipino owned businesses that must be protected and developed.
Course Chat 
AnimoSpace Support
An enterprise with no more than 2 branches would qualify as an MSME.
Which of the following would best describe the statement above?
This is true because enterprises with 2 branches are small to medium businesses only.
This is false because MSMEs with several branches can exist.
This is true since enterprises can opt to register as an MSME depending on the level of their operations
This is false as the qualification is not based on number of branches but on value.
Send
Incorrect
Which is not a requirement for MSMEs to avail of government support?
Filipino ownership of MSMEs
MSMEs must be in business.
Registration with the MSME Development Council Course Chat 

AnimoSpace Support
None commission of fraud in availing of benefits for MSMEs.
Which of the following is not a goal of RA 6977?
Level the playing field to allow MSMEs to compete with big business
Make registration and access to government services more affordable to MSMEs
Help in providing funding for MSMEs to help in establishing their business.
Send
Improve interaction between the Bigger Businesses and MSMEs.
The representative of the Banking Sector in the MSME Development Council must come from the
Banking Associations of the Philippines.
Which of the following correctly describes the above statement?
Course Chat 
AnimoSpace Support
This is false as the representative must rotate from among 3 private banking groups.
This is true as it is provided for by RA 6977
This is true as the Banking Association of the Philippines is the leader.
This is false because there can be more than one banking association in the Philippines.
Which of the following is not an MSME?
Send
The Franchise holder of Coffee Bean and Tea Leaf in DLSU
Jollibee Philippines
The Starbucks franchise in Algo
Ate Rica's with 3 branches around DLSU
Incorrect
Course Chat 
AnimoSpace Support
Financing Schemes under RA 6977 does not envision...
financing services performed by third party, small scale lenders
government financing services that can be availed of at the City, Provincial or Municipal Government
government loans extended to individuals
Government banking services for MSMEs
Incorrect
Send
What can the MSME Development Council not do?
Prescribe rules and standards for the availment of government services of MSMEs in coordination with
the other government agencies
Develop its own plans and programs for the development of MSMEs
Mandate processes to be followed by the DILG, whose Secretary is a member of the Council
Recommend to the President programs for the development of MSMEs
Course Chat 
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Quiz Score: 15 out of 20
Send
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10/28/22, 10:35 PM Quiz 1: Introduction to MSMEs and the Magna Carta of MSMEs: [1221_CLWETAX_K31] - MICRO, SMALL & MEDIUM

1] - MICRO, SMALL & MEDIUM ENTERPRISES

AnimoSpace Support Attempt Time Score

 Correct answers will be available Oct 29 at 2pm - Oct 29 at 4pm.

Score for this quiz: 15 out of 20

The small branch of Banco de Oro at Taft Avenue.

The Computer and Internet Shop owned by a Chinese National.

work with other government agencies to provide support for MSMEs.

The Secretary of Trade and Industry

The Secretary of Finance

The representative of the SSS

Which of the following accurately describes the above statement?

This is true as the Small Business Corporation is created by RA 6977 Send

The economy of the Philippines is dependent on MSMEs.

Which of the following accurately describes the statement above?

What is the MSME Development Council not? Send

An independent Council to focus on the needs of MSMEs

A council composed of a country wide representation to help MSMEs

A council under the Department of Trade and Industry

Which of the following is not a program mandated by RA 6977?

Financing services for MSMEs

Training of entrepreneurs and labor to give them sufficient skills.

Subjecting the Council to oversight by Congress

Giving preferential treatment to MSMEs to help them operate.

Which of the following accurately describes the statement above?

Which of the following accurately describes the above statement?

This is true as the Council is a multi Departmental Council Send

Which best describes the Magna Carta of MSMEs? Course Chat 

It is the law that provides for the rights of MSMEs.

ensures MSMEs will be successful in their endeavor

Ensure government gives MSMEs their fair share of government contracts.

Require Large Enterprises to coordinate and deal with MSMEs

Protect the integrity of the Credit Facilities set up for MSMEs

Rally the private sector to help to grow MSMEs

MSMEs are seen as the vehicle that...

will make the Filipinos richer

will empower Filipinos to achieve a better life.

will improve the quality of life of Filipinos

It is found in most of the major industry.

It is the most cost efficient solution to the problem of economy.

It constitutes almost all the business in the Philippines.

An enterprise with no more than 2 branches would qualify as an MSME.

Which of the following would best describe the statement above?

This is false because MSMEs with several branches can exist.

Which is not a requirement for MSMEs to avail of government support?

Filipino ownership of MSMEs

MSMEs must be in business.

Registration with the MSME Development Council Course Chat 

Which of the following is not a goal of RA 6977?

Make registration and access to government services more affordable to MSMEs

Help in providing funding for MSMEs to help in establishing their business.

Which of the following correctly describes the above statement?

This is true as it is provided for by RA 6977

This is true as the Banking Association of the Philippines is the leader.

Which of the following is not an MSME?

The Starbucks franchise in Algo

Ate Rica's with 3 branches around DLSU

Financing Schemes under RA 6977 does not envision...

financing services performed by third party, small scale lenders

government loans extended to individuals

Government banking services for MSMEs

Recommend to the President programs for the development of MSMEs