GLAN PADIDU-NATIONAL HIGH SCHOOL

SUMMATIVE TEST
ENTREP 10

Name: _______________________________________Section: __________Score: ________

Test I. Multiple Choice

Direction: Read each question carefully. Write only the LETTER of the correct answer in the space provided

before each number. Good luck & God bless.😊

_______1. As companies grow, business owners tend to become less involved in daily operations, instead
focusing on business development tasks like meeting with investors or engaging in long-term
capacity planning.
A. location B. people C. process D. technology
_______2. Business processes are clear protocols for how your business gets things done.
A. location B. people C. process D. technology
_______3. Refers to the tools you use to accomplish operational tasks. It can include software, hardware,
machinery, and other physical resources.
A. location B. people C. process D. technology
_______4. Refers to any physical location associated with your business. It can include office space,
manufacturing and warehousing facilities, and retail stores.
A. location B. people C. process D. technology
_______5. Improving business operations is a long-term game.
A. Automate processes
B. Improve existing processes
C. Invest in the right tools
D. Set goals and identify KPIs
_______6. Once you’ve set goals, you’re ready to examine the different business operations that can support them.
A. Automate processes
B. Improve existing processes
C. Invest in the right tools
D. Set goals and identify KPIs
_______7. It is improving rapidly, which means even if you audited every aspect of your business operations
last year, new relevant automation opportunities have probably emerged since then.
A. Automate processes
B. Improve existing processes
C. Invest in the right tools
D. Set goals and identify KPIs
_______8. You’ll evaluate the tools your employees use to perform key operational tasks as part of your
process improvement strategy, but in some cases it can be hard to know what you’re missing.
 A. Automate processes
B. Improve existing processes
C. Invest in the right tools
D. Set goals and identify KPIs
_______9. Your current budgets, infrastructure, and team capacity.
A. Evaluate your resource allocation
B. Stay Informed
C. Seek outside help
D. Make a plan
_______10. Monitoring industry and market trends can help you remain competitive by ensuring you focus
your efforts appropriately.
A. Evaluate your resource allocation
B. Stay Informed
C. Seek outside help
D. Make a plan
_______11. Business operations directors are responsible for maintaining a high-level focus on business
goals, managing daily operations, monitoring market fluctuations, and keeping up with advances in
technology.
A. Evaluate your resource allocation
B. Stay Informed
C. Seek outside help
D. Make a plan
_______12. Optimizing your business operations is an ongoing task—that’s why a chief operating officer is a
permanent C-suite role at most major companies.
A. Evaluate your resource allocation
B. Stay Informed
C. Seek outside help
D. Make a plan

_______13. A source document evidencing those orders have been placed by the customer waiting to be
served by the supplier.
A. Purchase request B. Purchase invoice C. Purchase order D. Purchase check
_______14. A source document evidencing those goods have been delivered by the supplier to the
customer.
A. Supplier’s sales invoice B. Vale slip C. Customer’s sales invoice D. Customer’s delivery receipt
_______15. All of the following are examples of source documents, except.
A. Check B. Invoices C. Contract D. Journal
_______16. A source document which shows that the customer has already made partial payment to the
supplier through issuance of.
A. Check B. Voucher C. Official receipt D. Sales invoice
_______17. An example of asset that can be used in the business for a long period of time, usually more
than a year.
 A. Inventories B. Computer C. Receivables D. Cash
_______18. A type of business that is purely engaged in providing all types of service activities such as
medical or legal services.
A. Service business B. Merchandising business C. Manufacturing business D. Trading business
_______19. A type of business that is engaged in buying and selling of food products such as
grocery/convenient stores.
A. Service business C. Manufacturing business
B. Merchandising business D. Forex Trading business
_______20. Referred to as the book of original entry.
A. Ledger B. Journal C. Accounts Receivable Ledger D. Purchase Journal
_______21. Referred to as the book of final entry.
A. General Ledger C. Accounts Receivable Ledger
B. General Journal D. Purchase Journal
_______22. It is an employee of the company in charge to maintain bookkeeping records of the business.
A. bookkeeper B. general journal C. general ledger D. t-account
_______23. It is considered the book of original entry.
A. bookkeeper B. general journal C. general ledger D. t-account
_______24. It is considered the book of final entry.
A. bookkeeper B. general journal C. general ledger D. t-account

_______25. It is the most convenient and fastest way of posting journal entries to the ledger. This account is
divided into two sides.
A. bookkeeper B. general journal C. general ledger D. t-account
_______26. It contains the detail for all invoices received from suppliers.
A. account payable B. debit C. credit D. trial balance
_______27. It is a group of accounts directly associated from the general ledger.
A. assets B. credit C. general ledger D. subsidiary ledger
_______28. It is the left-hand side entry also known in accounting as “Value Received.”
A. account payable B. debit C. credit D. trial balance
_______29. It is the right-hand side entry also known in accounting as “Value Parted With.”
A. account payable B. debit C. credit D. trial balance
_______30. It is a list of all ledger accounts with closed or final balances on a certain period arranged
according to the assets, liabilities, capital, revenue and expense.
A. account payable B. debit C. credit D. trial balance

Test II- True or False

Direction: Read the question twice. Write TRUE if the statement is correct and FALSE if the statement is
wrong. Choose your answer wisely.

_______31. Idea generation is the last stage in the development new product ideas.
_______32. Packaging is not important for new product ideas.
_______33. Label should only consist of brand name.
_______34. Halal seal conforms to the requirements of Muslim practices.
_______35. Developing a new product should be customer oriented.
_______36. Packaging is a bundle of satisfaction in which the buyer receives as the result of lease or
purchase is called packing.
_______37. Packing serves to secure and contain, and sometimes identify and promote the product.
_______38. Expiration date tells when the product will be expired.
_______39. Label is a display of information about a product on its containers packaging or product itself.
_______40. Producer services support another company’s operations such as accounting, human resource,
etc.
_______41. Services are sale of the physical products from the manufacturer to the consumer or end user.
_______42. Goods are intangible products that the satisfaction of the customer can be measured in future
preferences.
_______43. Consumer services that are for the benefit of end users directly such as education, courier
services, grooming services, etc.
_______44. Market testing is a stage where the new product is marketed in a limited geographical area to
determine if the fine tuning of attributes, positioning, pricing, advertising and promotions are
significant.
_______45. Idea generation it is the first stage of new product development process in which several idea
generation techniques are used to generate as many new product ideas as possible.

Test III- Essay

Direction: Read and understand the question carefully. Think before you write.
Rubrics:
Grammar- 3
Spelling- 2
Proper indention- 1
TOTAL: 5

46-50. How does technology help with bookkeeping? Talk about how computers and software have
changed the way businesses keep track of their money. Discuss some popular tools and how they
make bookkeeping easier.
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