TECHNOPRENUE

RSHIP
Total points 87/100

MIDTERM EXAMINATION

62 of 70 points

Complete Full Name (space) Course *

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Catherine Luna Ty BSABE-IV 181025

Multiple Chpice : Choice the best

answer of your choice.
:
 Maria risk herself on her 1/1
carenderia knowing the
Pandemic condition in the area.
She alternatively posted her
food menu on social media and
brave enough to accept the
outcome of her business. Maria
possess:

optimism

commitment

creativeness

courage

Liquid assets such as cash and 1/1

other assets that can be
converted quickly into cash,
such as accounts receivable
and merchandise are called:

total assets

current assets

Kxed assets

none of the above

:
 The simplest form of business 1/1
organization.

Partnership

Sole Proprietorship

Cooperative

Corporation

Land, buildings, plant and 1/1

machinery are example of

current assets

trade investments

Kxed assets

intangible assets
:
 Which of the following is a 1/1
common activity of an
entrepreneur?

Advocating against global warming

Delivering goods and services

to the market

Preaching in different churches or

group of churchgoers

Volunteering in a community clean-

up activity

Persistence requires: 0/1

Face a signiKcant obstacle with

a good plan of action.

IdentiKes a good alternative for

every decision to meet a challenge
or overcome an obstacle.

Act as the prime mover of

resources in the achievement of
goals and objectives.

All of the above

:
 Which is a PECs planing cluster 1/1

risk taking

information seeking

networking

persistence

Risk takers must 1/1

Calculate risks by identifying the

most beneKcial alternative courses
of action to minimize effect of risks
in the net proKt

Be proactive. Anticipate a loss and

counter it with feasible alternatives.

In business realities, seasoned

entrepreneurs sometimes take
riskier business to get higher proKts

All of the above

:
 Ed receives compliant from his 1/1
costumer regarding the delayed
services his company delivers.
He immediately confronted the
complainant to save the
reputation of the company in
front of other costumers.
Hence, Ed does not possess:

optimism

self-commitment

self-conKdence

self-control

Which combination is focused 1/1

on the external assessment of
the business?

Opportunities and Threats

Strengths and Weaknesses

Strengths and Threats

Weaknesses and Threats

:
 The process of recording the 1/1
money received and spent by
the operations of the business is
known as

bookkeeping

booking

administering

posting
:
 Jinky is a crew in a fast food 0/1
chain. She received enough
salary. However, the
management declared
trenchment on crews due the
pandemic and cannot pay the
salary of the existing numbers
of crew. The management
suggested to retain the crew but
with 50% deduction of their
salary. Jinky as being the
senior of the crew agrees to the
suggestion of the management.
Hence, Jinky possess:

optimism

open mindedness

commitment

High energy level

:
 Systematic planning and 1/1
monitoring include the following
EXCEPT

be logically Zexible for the

emergent constraints, challenges,
and needs

make a well-organized plan with

clearly deKned methods

Schedule periodic gap-proof

monitoring and response activities
to determine emergent constraints,
challenges, and needs

set calculated goals and

objectives

Which is TRUE about 1/1

partnership?

it has perpetual life

It will be dissolved if one of the

partner ceases to be connected
with the partnership

It can be handed down from one

generation of partners to another

Its capitalization must be equal for

each partner
:
 Match the following standard of
accounts to where they are best suited:

Current Property & Current

Asset Equipment Liability

Accounts
Receivable

Accounts
Payable

Notes
Payable

Cash

Merchandize
inventory

Mortgage
Payable
(5yrs)

Building

Furnitures &
Fixtures

Prepaid
Expense

Notes
Receivable
:
 Which is not the disadvantage 1/1
of a corporation?

The complex organizational setup

imposes a long line of more
expensive ways of control.

Complex decision making process

will delay operation.

There is a greater degree of

governmental control as compared
to other types of organization

ConZict of interest among

members is common

Which combination is focused 1/1

on the internal assessment of
the business?

Opportunities and Threats

Strengths and Weaknesses

Strengths and Threats

Weaknesses and Threats

:
 Which type of business is 1/1
owned by only 1 person?

Cooperative

Corporation

Partnership

Sole Proprietorship

The minimum number of 0/1

incorporators in order that a
corporation be organized?

10
:
 Those funds that are required to 1/1
make the enterprise or project a
going concern;

initial investment

current accounts

working capital

subscribed capital

Which of the following best 1/1

describes a risk-taker?

Accomplishes targets on time as

agreed with customers

Anticipates a loss and

countering it with feasible
alternatives

Acts as the prime mover of

resources in the achievement of
objectives

Pays attention to the needs and

demands of people
:
 Business success takes right 1/1
attitude combined with.

adequate knowledge,

competitive skills,

upheld passion to make signiKcant

revenues.

all of the above

:
 Which combination is focused 1/1
on the external assessment of
the business?

D
:
 What is the highest position in 1/1
the corporation?

President

Board of Directors

Chairman of the Board

Chief Executive O`cer

Work-in process is classified as: 1/1

an asset

a liability

an expenses

an owner's equity
:
 A set of skills that entrepreneurs 1/1
must possess to take control of
the challenges in business is
known as:

personal business capacities

personal entrepreneurial
competencies

professional enterprise
competencies

personally preferred competencies

:
 Ed receives compliant from his 1/1
costumer regarding the delayed
services his company delivers.
He immediately confronted the
complainant to save the
reputation of the company in
front of other costumers.
Hence, Ed does not possess:

basic commodities are made for

mothers

basic commodities are made to

satisfy our needs

necessity is invented by mothers

our mother tells us what we really

need
:
 An existing business may use a 1/1
business plan to:

Focus on the business idea before

start-up

Present to the suppliers of a private

limited company

Secure Knances from the bank

for business expansion

Share with employees in the

business

Which term refers to a group of 1/1

people with economically
important needs and demands
which opens entrepreneurial
opportunities to everyone?

Environment

Ethnicity

Geography

Market
:
 Which is TRUE about 0/1
corporation?

It is not best form of business

organization

The minimum number of

incorporators to start a
corporation is three

Its capitalization must be equal for

each corporators

The stockholers of the corporation

are only liable to the extent of their
investors

Which of the following is NOT 1/1

considered an emerging
industry in the Philippines?

Agribusiness

Power and utilities

Creative Industries

Renewable Energy
:
 Which of the following is a major 1/1
problem that a technoprenuer
might encounter when writing a
business plan for the first time?

Explaining the business idea and

where it came from

Forecasting product sales

accurately

including details about the owners

Fining appropriate format to

present the plan

In which section of the business 1/1

plan would you expect to find
details about the capital needed
to start-up the business?

The business idea

Business aims and objection

Forecast revenue, costs and proKt

Sources of Knance
:
 Peter despite of his low income 1/1
due the Pandemic condition, he
always feel positive in every
effort in order to recover his
capital in MCQ environment.

courage

self-conKdence

optimism

self-control

Information-seeking and goal- 1/1

setting belong to what PEC’s
cluster?

Achievement cluster

Planning cluster

Empower cluster

Power cluster
:
 It is an ownership in business 1/1
where individuals exercise and
enjoy the right in their own
interest.

Equitable

Public

Private

Pure

The goals of a business are 1/1

known as the business

Idea

Plan

Aims and objectives

Location
:
 A business plan is more likely to 1/1
secure external funding if it is:

Very lengthy and vague

Has limited Knancial forecast

information

SpeciKc and concise

Has little evience of market

research being carried out

In case of bankruptcy of a 0/1

partnership:

the partners are not liable for the

liabilities of the partnership

the partnership assets

(excluding the partners personal
assets) only will be used to pay
the liabilities

the partners personal assets are

attached to the debt of the
partnership

the partners may sell stock to

generate additional capital
:
 An association of two or more 1/1
individuals for the purpose of
operating a business as co-
owners for profit.

Sole proprietorship

Company

Partnership

Corporation
:
 Luis is good in convincing his 1/1
customers that his product is
not only of best quality but also
safe to use. Many of his
customers bought and even
returned to buy more of the
product because they want to
share it with their friends. What
personal entrepreneurial
competency does Luis have?

Demand for e`ciency and quality

Persuasion

Goal setting

Self-conKdence
:
 Which is a PECs demand for 1/1
efficiency and quality statement:

Be proactive. Anticipate a loss and

counter it with feasible alternatives

Accomplish tasks by meeting or

exceeding standards of
excellence

Act as the prime mover of

resources in the achievement of
goals and objectives.

Accomplish targets on time, as

agreed, to keep customers
satisKed.

In the 4M’s of production, which 1/1

M refers to the persons in the
business known as the labor
force?

Machines

Manpower

Materials

Money
:
 What really makes up a 1/1
successful entrepreneur?

Ability to act like a customer

Ability to study a market

Knowledge, skills, and attitude

Knowledge, skills, and money

When entrepreneurs face a 1/1

significant obstacle with a well-
planned action, they have
Personal Entrepreneurial
Competency known as:

initiative

persuasion

Persistence

risk-taking
:
 Billy is successful in his 1/1
business. He hires specialist on
every business venture he
undertakes. Hence, Billy
possess:

decision making skills

energy and stamina

professional support

a sense of freedom and control

What is the highest position in 0/1

the cooperative?

President

Board of Directors

Chairman of the Board

Chief Executive O`cer

:
 What is the reason why an 1/1
aspiring entrepreneur must
make a sound and impressive
business plan?

. A sound and impressive business

plan is likely to be approved for a
loan package.

A sound and impressive

business plan attracts more
customers.

A sound and impressive business

plan commands tax rebates.

A sound and impressive business

plan can improve a particular
segment of a market.
:
 Dale failed twice in his 1/1
business. He still move on to his
third business venture. He tries
to visits business
establishments that offers the
same business from his third
business. He is more careful on
the areas of his down fall of his
passed businesses. Hence,
Dale possess:

optimism

responsibility

strong desire to achieve

ability to learn from past failures

:
 Everything a company owns 0/1
and which has a money value is
classified as an asset. Which of
the following is classified as an
asset?

Intangible assets

Fixed assets

Trade investments

All of the above

Match the following PECs statement

according to clustered area of
application:

Achievement Planning Power

Develop self-
trust in the
attainment of
goals and
objectives

Set
calculated
goals and
objectives.

Face a
signiKcant
obstacle with
:
 a good plan
of action.

Talk with
experts for
technical
advice..

In business
realities,
seasoned
entrepreneurs
sometimes
take riskier
business to
get higher
proKts.

Always be
ready to give
facts and
beneKts to
convince
customers to
patronize
products and
services
offered

Common
business are
well
competed in
the market
while unique
ones offer
lower
competition
resulting to
higher
revenues and
proKt.
:
 Accomplish
tasks by
meeting or
exceeding
standards of
excellence.

Be logically
Zexible for
the emergent
constraints,
challenges,
and needs

An
entrepreneur
must be
brave enough
use one’s
ability to
choose which
alternative
course of
action is the
most
appropriate.
:
 Which business principle is 1/1
applicable in products and
development and marketing?

. Ask researchers in other

communities about their needs
and demands.

Follow the result of a national

survey of needs and demands.

Pay attention to the needs and

demands of the market.

Your own needs and demands are

the same with others.

Situational 25 of 30 points

Answer the following problem situation by

presenting your solution based on the given
statements. determine what part of the
topics that you can make possible
solutions. Cite technologies that can aid in
solving the problems.
:
 Problem No 2: You keep hiring 8/10
the wrong people: Oh no!.
This one is a punch in the gut
and arguably one of the most
pressing issues faced by
business owners. You are
putting your feelers out when
job openings arise, tapping into
your personal networks for
referrals, doing a ton of
interviewing, but a few months
into a new employee’s tenure,
it hits you…they are the worst
possible person for the job.

Hiring the right person for the right task is

important so Krst, in accepting employees
do not accept referrals. Hired the employee
base on their knowledge and skills. Second,
the resume should be assessed thoroughly.
Third, make use of the technology by
checking their social media accounts. How
they post and act on social media reZects
what kind of employee they could be. Or
another application of technology is
accepting resume through email and
conduct interview via video call online.
Interview them not favorably because they
are referred instead ask them questions
based on what kind of employees you need,
their skills, capabilities, ability.
:
 Problem No. 3: You receive a 8/10
negative customer review: You
wake up one morning and—
BOOM—you are hit squarely
between the eyes with a public
customer review so scathing
that you’re heart starts
palpitating (ok, maybe not that
bad, but you get the severity
here).

As a business owner you should always be

calm and have self-control. First thing you
should do is to be calm and think before you
respond. Think how you can handle the
situation without offending the customer.
Second, asses the negative review of the
customers. The feedback of the customers
helps the business improve. So you must
listen and pay attention to the feedback of
the customer. Third, respond to the the
review is a good way or in a professional
manner. Take advantage of the technology,
you can use social media accounts. Post
your apology publicly for others also to see
and to settle the issue with the customer
who post the negative review and also to
those who has read and know the review.
Explain the situation and promise to do
better and take the bad review for the
improvement of the business.
:
 Problem No. 1: Fast staffs turn 9/10
over Entrepreneur: “I have a
big problem. I don’t have
enough staff to do all the work
my company has committed to.
”Mentor: “Why don’t you
have enough staff? You hired
three new employees last
quarter.” Entrepreneur: “They
all quit. That’s my problem!”

The problem here that is encountered could

fall in the human resource management. The
human resource management might be
poor. First, you must asses and identity the
reason why they quit and what are the
problems they encountered in your business.
Is the salary enough for their job? Is the
atmosphere stressful or not? Are they happy
doing their works/ assigned task? Is their
salary being paid on time? Do you handle
them with authority but not in a good way?
There could be manu reasons why the
employees all quit. So a careful assessment
is needed. Next thing to do is do your best
not to do the same mistake again so that
you will not encounter the same problem
again. Next, since you need employees
immediately, the fastest way to Knd it is with
the use of technology. Use online platform,
post that you are hiring new employees with
complete details and requirements
immediately. Provide email address for fast
transaction.

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