ENTREPRENEURSHIP
2ND QUARTER EXAMINATION
NAME: ____________________________________________________________________ SCORE: ___________
I. MULITIPLE CHOICE:
Directions: Read each item very carefully. Encircle the letter that corresponds to the correct answer.
1. It is a written document that guides the b. Income
Entrepreneur on which strategies would be most c. Sales
beneficial for the enterprise to take. d. Corporate
7. Which of the following categories of information
a. Business Concept are found on a balance sheet:
b. Business Plan
c. Vision a. Income, expenditures, profit
d. Mission b. Assets, liabilities, owner's equity
c. Assets, liabilities, margin
2. The primary purpose of a business plan is to: d. Revenues, expenses, profit
a. attract lenders and investors. 8. The balance sheet has a close relationship with the
b. enable an entrepreneur to take his or her company's ___________?
company public.
c. guide a company by plotting a strategy for its a. mortgage.
success. b. income statement.
d. meet SEC and other legal requirements c. fair market value.
designed to protect lenders and investors. d. statement of financial position.
3. Define a company's overall direction and answer 9. A Unit that manages the logistics of warehousing,
the fundamental question, "Why am I in distributing, and delivering the finished products to
business"? the customers.
a. Goals a. Pre- Operations Unit
b. Strategies b. Under Operations Unit
c. Objectives c. Operations Unit
d. Key performance factors d. Post- Operations Unit
4. These are short term, specific targets which are 10. It measures the results or outcome realize by the
attainable, measurable, and controllable. enterprise in relation to the resources utilized and
time and effort exerted to produce these
a. Objectives outcomes.
b. Policies
c. Goals a. Economy
d. Standard operating procedures b. Effectiveness
c. Efficiency
5.The owner receives all of the profits of the business
d. Flexibility
and can act quickly in making business decisions
when the form of business ownership is a: 11. It describes as “ motivating and energizing people.”
a. corporation. a. Recruiting
b. partnership. b. Resonating
c. joint venture. c. Reviewing
d. sole proprietorship. d. Retaining
6. Which of the following is the type of tax that 12. Organization who desire to optimize the value of
businesses are required to collect from customers people over the long should have a:
when they purchase certain goods or services:
a. Routing intelligence
a. Estate
This study source was downloaded by 100000798639074 from CourseHero.com on 04-24-2021 03:15:55 GMT -05:00
https://www.coursehero.com/file/46650281/2nd-Quarter-Exam-Entrepreneurshipdocx/
b. Routing Flexibility. 20. An example of an operating expense that is
c. Routing Strategy included in a business's income statement is
d. Routing Enhancement
a. inventory.
13. Which of the following phrases effectively b. purchases.
describes a business's income statement: c. commissions.
d. allowances.
a. Income preview
b. Budget estimate
c. Cash-flow report 21. Which from the following would be the next
d. Financial picture financial step of a business that has been
running successfully for several years?
14. Gross profit describes as꞉
a. Purchasing a second location
a. Amount of money you get for profit lab. b. Acquiring start-up funds
b. Amount of money collected from selling c. Deciding on financial goals
products. d. Determining product prices
c. Amount of money your product costs to 22. The following are example of six important criteria of
produce. in recruiting people aside from:
d. Has nothing to do with money.
a. Past Performance
15. Net profit describes as: b. Personal Preference
c. Personal Character
a. Amount of money you get for profit lab. d. Psychological Profile
b. Amount of money collected from selling
23. Which of the following is a benefit of hiring the right
products.
employee for a job:
c. Amount of money your product costs to
a. Increased employee turnover
produce.
b. Increased risk of poor job performance
d. Has nothing to do with money.
c. Decreased employee morale
d. Decreased cost of selection
16. What kind of legally enforceable contract requires
that both parties who are entering into the 24. Which of the following financial analysis methods is
contract are sane, sober, and of legal age? used to show the relationship of each total within a
single financial component to the statement:
a. Genuineness of assent a. Fundamental analysis
b. Consideration
b. Horizontal analysis
c. Capacity c. Industry analysis
d. Legality of purpose
d. Vertical analysis
17. The government's mandating the use of unleaded
25. Financial loss from investing time and money to
gas in new cars is an example of:
comply with accounting standards is an example of
a. protecting specific businesses. which strategic risk:
b. protecting the environment. a. Changing customer needs
c. stabilizing the economy. b. Reputation damage
d. providing public goods. c. Regulatory and political issues
18. Alma started her own childcare network where she d. Obsolescence
connects families to available babysitters at her
26. Lito is starting a new business, and he has formed
school. Alma could be described as a(n):
relationships with several successful local business
a. direct salesperson. owners. Which of the following is the best way to
b. franchiser. leverage these relationships to help his own business
succeed:
c. wholesaler.
d. entrepreneur. a. Gaining inside marketing information
b. Persistently asking those business owners to
19. Marginal analysis is a cost/benefit decision process
invest in his company
that seeks to determine:
c. Attending trade shows and conferences to
a. the best qualities to look for in potential make new connections
employees. d. Sharing those businesses' content on social
b. how a manager can cut costs. media
c. the likely returns on a new investment.
27. An entrepreneur's best insurance against launching a
d. profit-maximizing quantity of output.
business destined to fail or mismanaging a potentially
successful company.
This study source was downloaded by 100000798639074 from CourseHero.com on 04-24-2021 03:15:55 GMT -05:00
https://www.coursehero.com/file/46650281/2nd-Quarter-Exam-Entrepreneurshipdocx/
a. Bankrolling the business with plenty of 34. Lily does not want the legal obligation of
startup capital repaying a loan and is willing to share profits
b. Creating a solid business plan with others. Which of the following options is
c. Spending lots of money on marketing and Lily most likely to select to fund a new venture:
advertising
d. Sharing those businesses' content on social a. Private equity
media b. Collateral savings
c. Trade credit
28. Which of the following statements is true regarding d. Community bank
stakeholder expectations:
35. What is a primary factor that small-business
a. Each group of stakeholders has different needs owners should consider when deciding to hire
and expectations. additional staff members?
b. Stakeholder expectations are always financially
driven. a. Interview techniques
c. All stakeholders want to exert authority over b. Payroll expenses
employees. c. Training methods
d. Stakeholder expectations always come second d. Product standards
to customer needs.
29. To figure the Gross Profit: 36. Agnes reviews a report that compares the
purchase transactions of the company's four
a. Add up the ticket sales from selling day. largest customers. Then she is:
b. Add up the ticket sales from selling day and
subtract the cost of the ingredients. a. Conducting a sales analysis
c. Add up cost to produce the product and b. Preparing a purchasing forecast
subtract the total sales. c. Organizing an inventory report
d. Add the cost to produce the product and add d. Analyzing service performance
the total sales. 30. To figure the Net Profit: 37. Which of the following categories of information
are found on a balance sheet:
a. Add up the ticket sales from selling day.
b. Add up the ticket sales from selling day and
a. Income, expenditures, profit
subtract the cost of the ingredients.
b. Assets, liabilities, owner's equity
c. Add up cost to produc3 the product and
c. Assets, liabilities, margin
subtract the total sales.
d. Revenues, expenses, profit
d. Add the cost to produce the product and
add the total sales 38. Marly wants to step back from the day-to-day
activities of running her company. She decides to
31. Alvin wants to start a home-based T-shirt
take the company to another level by selling
printing business. Which of the following are the
public stock. One way Marly can stay involved in
most critical equipment and supplies that Alvin
the company is by:
will need to get his business up and running?
a. arranging a tactical acquisition.
a. T-shirts, thread, and display cases
b. appointing a family member as president.
b. Printing machine, display cases, and
c. serving on the board of directors.
T-shirts
d. hiring her successor.
c. Artwork, T-shirts, and thread
d. T-shirts, printing machine, and artwork 39. : Company A has sales of P250,000 and accounts
receivable of P20,000; Company B has sales of
32. The following statements are examples of focus
P275,000 and accounts receivable of P25,000;
of good operations management, supervision,
Company C has sales of P300,000 and accounts
and control aside from:
receivable of P30,000; and Company D has sales
a. Relate the output produce by the output of
b. Creating the right metrics of performance P290,000 and accounts receivable of P32,000. Which
c. Perfecting the performance operating company has the highest sales-toreceivables ratio?
methods
a. Company A
d. Optimizing the mix of 3M’s.
b. Company B
33. Selecting, sourcing, productivity cost and profit c. Company C
management, supervisory and control methods d. Company D
are examples of:
40. Which of the following is a true statement
a. Pre- Operations Unit regarding the relationship between risk and
b. Under Operations Unit business objectives:
c. Operations Unit
a. Risks help businesses determine objectives.
d. Post- Operations Unit
This study source was downloaded by 100000798639074 from CourseHero.com on 04-24-2021 03:15:55 GMT -05:00
https://www.coursehero.com/file/46650281/2nd-Quarter-Exam-Entrepreneurshipdocx/
b. Objectives should never be modified timely deliveries. Choose which area of the
because of risk. business does Susan need to focus on to ensure
c. Effective business objectives are not risky. on-time delivery?
d. The more objectives a business has, the less
risk it faces. a. The sales force
b. Inventory control
41. Tonio doesn't have much money to promote his c. Supply chain management
new restaurant, so he focuses on inviting a few d. Production
customers in for a special dinner in hopes that 43. The Belo Cosmetic Company implemented a
they will post favorable reviews online and tell challenging sales promotion in which its
their family and friends about their great meals. independent sales consultants could earn
Tonio is using __________ marketing. bonuses, prizes, and vacations. This is an
example of a company using __________ as a
a. broadcast sales incentive.
b. direct mail a. Specialize in specific product lines.
c. grassroots b. Mass market its products.
d. cause c. Produce less efficiently.
d. Appeal to customers with a variety of needs.
42. Susan is a manager at a distribution plant. Lately,
her customers have been complaining about
This study source was downloaded by 100000798639074 from CourseHero.com on 04-24-2021 03:15:55 GMT -05:00
https://www.coursehero.com/file/46650281/2nd-Quarter-Exam-Entrepreneurshipdocx/
a. sweepstakes 50. If you are part of the top management of
b. push money company XYZ Company that is interested in
c. cooperative advertising developing, producing, and selling a new
d. loyalty programs product. But before it does so, the company
spends six months conducting marketing
44. If you are creating accurate forecasts for research. Which of the following will be the
individual products. What sales forecasting primary advantages of your company’s action?
technique you are using?
a. To delay the production process and
a. Sales force composite increase labor costs
b. Delphi b. To increase costs and determine
c. Survey of buyer intentions consumer dislikes
d. Jury of executive opinion c. To predict trends and provide
information to customers
45. If you are a small-business owner and you are d. To determine customer preferences
looking at problems from various points of view and minimize losses
then it helps you develop a:
a. practical arguments.
b. creative solutions.
c. unnecessary conflicts.
d. unpredictable results.
46. If you are the CEO or the President of a
company which of the following is an example
of a company objective that you might be
developed:
a. Improve the collection process
b. Maintain or increase market share
c. Maintain the billing cycle
d. Hold weekly sales meetings
47. If you are a part of the top management of a
company and you want to ensure that changes
are implemented in the best possible way and
that those changes will lead to long-term
benefits, it should use the __________
approach.
a. change avoidance
b. problem solving
c. change management
d. solution finding PREPARED BY:
48. You put up a new business venture and you
want stable sales for your product. Which of AGNES R. RAMO
the following situations is most likely to result Subject Teacher
in long-term, increased sales on your part:
a. Raising the price of its current
CHECKED
:
products
b. Constantly providing new choices for
consumers ETHEL P. FABIA
c. Lowering the price of its current SHS Focal Person
products
d. Eliminating a slow-selling product line
NOTED
:
49. If you are part of the top level management
and you are narrowing down you product
mix, then you are allowing your company to: JUPITER L. PETILLA, Ed.D.
Principal IV
Powered by TCPDF (www.tcpdf.org)
This study source was downloaded by 100000798639074 from CourseHero.com on 04-24-2021 03:15:55 GMT -05:00
https://www.coursehero.com/file/46650281/2nd-Quarter-Exam-Entrepreneurshipdocx/
