DEPARTMENT OF EDUCATION

National Capital region

Division of Pasig City

SECOND QUARTER LONG TEST

ENTREPRENEURSHIP
S.Y. 2022 – 2023

Name: __________________________________ Date: _________________

Section: ________________________________ Score: ________________

Directions: Read the statement carefully. Choose the letter of the correct answer then write the answer on a
separate sheet of paper.
1. Which of the following orders is followed in a typical selection process?
A. Application form, test and/or interview, reference check and physical examination
B. Physical examination, test and/or interview, application form and reference check
C. Reference check, application form, test and/or interview and physical examination
D. Test and/or interview, application form, reference check and physical examination

2. The cycles to be followed inadequately fabricating or conveying a product or service.

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

3. It is considered to be raw materials needed in the production of the product or service.

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

4. ________ is the process of searching for prospective employees and stimulating them to apply for jobs in the
organization.
A. Advertising B. Networking C. Recruitment D. Selection

5. The process of eliminating unsuitable candidates is called_______.

A. Induction B. Recruitment C. Interviewing D. Selection

6. It relates to innovations that help business tasks become normalized and consistent. Therefore, without it business
activities will be lumbering, expensive, and with poor quality.
A. Manpower B. Method C. Machine D. Materials

7. It considered to be the most vital factor in production. A business entrepreneur must determine, acquire, and match
qualified employees with the jobs at the most appropriate period.
A. Manpower B. Method C. Machine D. Materials

8. Which term refers to primer model or sample of another product or service that is made to test a product idea or
service measure.
A. Inventory B. Prototype C. Job Description D. Job Specification

9. A job is a summary of the objectives of the job, the type of work to be done, the responsibilities and duties, the
working conditions, and the relationships of the job to other functions.
A. Analysis B. Description C. Design D. Specification

10. What term refers to the process by which firms identify, evaluate, and contract with suppliers?
A. Supplier Selection B. Procurement C. Screening process D. Negotiation

11. Which of the following pertains to anything used as inputs to production or manufacturing?
A. Manpower B. Machine C. Materials D. Method

12. Which of the following helps the managers with the information required to make good human resources
decisions?
A. Industrial relations C. Recruitment
B. Performance Appraisal D. Selection

13. Which of the following is NOT part of the supplier qualification screening process?
A. Reference checks C. Ability to meet specifications
B. Surge capacity availability D. Create a technology roadmap
14. Which question statement does not apply in selecting a supplier?
A. Is the quality of materials good?
B. Can the vendor supply the needed quantity of materials in a reasonable price?
C. Will this equipment make you more successful in the marketplace?
D. Does the company have a favorable reputation to deliver on time?

15. It is one of the process in selecting supplier in which keeping track of their progress and making sure to meet their
agreement.
A. Finding a new supplier
B. Negotiation process
C. Supplier contract award
D. Monitor the supplier performance

16. It is part of supplier selection process where it sets out what the supplier should do and how the purchaser will pay
for them.
A. Finding a new supplier C. Contract terms
B. Negotiation process D. Monitor the supplier performance

17. What do you call the process in which the buyers tries to establish favorable terms on the part of the supplier?
A. Finding a new supplier
B. Negotiation process
C. Supplier contract award
D. Monitor the supplier performance

18. Statement A. Supply Chain activities include the transfer of material from one place to another.
Statement B: On the other hand, Value Chain is primarily concerned with providing value for price product or service.
A. Statement A is True and Statement B is False
B. Statement A and B are True
C. Statement A and B are False
D. Statement A is False and statement b is True

19. Which of the following is NOT the correct sequence?

A. Product Request - Supply Chain – Customer
B. Customer Request - Value Chain – Product
C. Supplier Request - Value Chain – Product
D. All of the above

20. The major objective of this chain is to gain complete customer satisfaction.
A. Supply Chain C. Market Chain
B. Value Chain D. Packaging Chain

21. In this chain, the main objective is gaining competitive advantage.

A. Supply Chain C. Market Chain
B. Value Chain D. Packaging Chain

22. Which stage of the recruitment process involves job posting and running job fairs?
A. Planning C. Interviewing
B. Talent Search D. Evaluation and Offer

23. It refers to identifying the vacancies that exist in the company.

A. Recruitment Plan C. Interviewing
B. Talent Search D. Evaluation and Offer

24. It is strategic management and a startup template for the development of new business models or for
documentation.
A. Market Plan C. Business Flow
B. Financial Plan D. Business Model Canvass

25. Which of the following refers to the business sources of cash flow?
A. Key Money C. Business Flow
B. Key Resources D. Revenue Streams
26. It creates strategic relationships with other companies.
A. Key Money C. Key Partners
B. Key Resources D. Key Activities

27. Which of the following describes the essential need that your business is trying to fulfill for its customers?
A. Customer Segments C. Channels
B. Value Propositions D. Key Activities

28. The following are components of Business Model Canvass EXCEPT for:
A. Key Money C. Key Partners
B. Key Resources D. Key Activities

29. Which of the following refers to the kind of cost considered as unchanging no matter how much a business
increases or decreases its sales?
A. Direct Costs C. Fixed Costs
B. Variable Costs D. Product Costs

30. Which of the following refers to the kind of cost considered as relative or proportional to the output produced by
the business?
A. Direct Costs C. Fixed Costs
B. Variable Costs D. Product Costs

31. Which should be divided by the number of units produced to get the unit cost?
A. Direct Costs C. Fixed Costs
B. Variable Costs D. Product Costs

32. Jimin plans to sell his photocards. The unit cost of each is Php 210.00. If he plans to have a 50% increase on each
photocard, what would be his selling price?
A. Php 210.00 B. Php 300.00 C. Php 315.00 D. Php 350.00

33. Jeykey sold 50 shirts with a price of Php 294.00 each. If the unit cost of each shirt is Php 210.00, what is his
desired rate of return?
A. 30% B. 40% C. 50% D. 60%

34. Jin’s business has incurred Php 422.00 on fixed costs and Php 500.00 on variable costs. What does he need to do
to get the product cost?
A. Subtract the fixed cost from the variable cost.
B. Get the sum of the fixed and variable cost.
C. Multiply the fixed and variable cost.
D. Divide the fixed cost from the variable cost.

35. Refer to Question #41, how much would be Jin's product cost?
A. PHP 78.00 C. PHP 1.18
B. PHP 922.00 D. There is no product cost available.

36. Yoongi made 12 large cakes at a price of Php 3000 per piece and sold them at Php 3500. How much is his total
markup price for the cakes?
A. Php 500.00 B. Php 1,000.00 C. Php 6,000.00 D. Php 42,000.00

37. Which is an example of a fixed cost?

A. Egg B. Rent C. Packaging D. Vegetable

38. Which of the following refers to the amount of revenue a company expects to earn at some point in the future?
A. Sales B. Sales Projection C. Pricing Strategy D. Financial Result

39. Calculating or predicting future events that usually comes from the result of a study and analysis of available
pertinent data.
A. Financial plan B. Unit Cost C. Product Cost D. Forecasting
40. Which of the following statements is NOT true?
A. Forecasting helps businesses plan their contingency plans.
B. Forecasting allows businesses to create accurate budgets.
C. Forecasting will surely make businessowners gain full profit.
D. Forecasting allows businesses to control their cash flows.

41. Which of the following is NOT true?

A. Costing helps in identifying how much cost is incurred on each product.
B. Costing is needed to be able to set the price of the product fairly and competitively

C. Costing gives businesses additional profit.

D. Costing helps businesses understand the way their competitors price their product against an
industry benchmark.

42. Which of the following is FALSE?

A. Businesses should forecast the possible sales and expenses.
B. Mark up must be reasonable for the product
C. Once your business fails, better stop.
D. Learn how your competitor’s price their products.

43. Which of the following describes the “mission statement “of the company?
A. Describe the desired future position of the company.
B. Defines the company’s business, its objectives, and its approach to reach those objectives.
C. Defines the company’s by laws
D. Describe the company’s corporate responsibility

44. This is the part of the business plan where you will describe the specific product or services you’re
going to offer.
A. Executive summary C. Product/service plan
B. Mission statement D. Vision statement

45. A formal document containing business goals, the methods on how these goals can be attained, and
the time frame within which these goals need to be achieved
A. Business plan C. Executive summary
B. Organization chart D. Product/service plan

46. The marketing portion of the business plan addresses how you will get people to buy your product or
service in sufficient quantities to make your business profitable.
A. Financial plan C. Executive summary
B. Product/service plan D. Market plan

47. The marketing portion of the business plan addresses how you will get people to buy your product or
service in sufficient quantities to make your business profitable. It consists of the following EXCEPT for:
A. Marketing Sales and Strategies C. Pricing Policy
B. Labeling and Packaging D. Financial Projections

48. Your product and services section should include the following EXCEPT for:
A. Technology C. Product & Service Description
B. Competitive Edge D. Workforce and Support Personnel

49. The following are examples of sales literature EXCEPT for:

A. Flyers B. Newsletter C. Brochures D. Technology
50. What is the “vision statement”.
A. Describe the desired future position of the company.
B. Defines the company’s business, its objectives, and its approach to reach those objectives.
C. Defines the company’s by laws
D. Describe the company’s corporate responsibility
 *******GOODLUCK & GODBLESS********
KEY ANSWER
ENTREP LONG TEST KEY (2Q)1

1A 11C 21B 31D 41C

2B 12B 22B 32C 42C
3D 13D 23A 33B 43B
4C 14C 24D 34B 44C
5D 15D 25D 35B 45A
6C 16C 26C 36C 46D
7A 17B 27B 37B 47D
8B 18B 28A 38B 48D
9B 19C 29C 39D 49D
10A 20A 30B 40C 50A