Department of Education
Region IX, Zamboanga Peninsula
Division of Zamboanga City
Tolosa National High School
Tolosa, Zamboanga City
Midterm Examination in Entrepreneurship
2nd Semester S.Y. 2019-2020
Name: _______________________________________
Score: _______________
Grade 12- _______________
Date: ________________
General Instructions
1. Avoid erasures. For objective type of test, you are allowed to use at least 3 erasures. If you exceed, it will be a deducted from your
total score.
2. Using of cellphones and any gadgets are strictly prohibited unless emergency.
3. Refrain from lifting your test papers as your classmates at the back may see your answers.
4. If you have any question about the test, just raise your right hand.
GOD BLESS!
Test I. Multiple Choice. Read and understand each question carefully. Shade the circle that corresponds to the
correct answer on the right side of the test paper.
1. Which of these is true about entrepreneurs?
A. Entrepreneurs are born, not made.
C. Entrepreneurs are gamblers.
B. Only rich ones can start a business.
D. Age is no barrier in entrepreneurships.
1. A B C D
OOOO
2. All of the following are true about entrepreneurs except:
A. starting a business is risky and often ends in failure.
B. entrepreneurs are their own bosses and completely independent.
C. if an entrepreneur is talented, success will happen in a year or two.
D. All of these are myths about entrepreneurs.
2. A B C D
OOOO
3. Which of the following statements is not true?
A. Many now-great companies had early failures.
B. Entrepreneurs spot, create, and exploit opportunities.
C. If an idea doesn't work, you could capitalize on the side street effect.
D. All of the above are true.
3. A B C D
OOOO
4. Which of these characteristics has not been associated with entrepreneur's success?
A. Commitment and determination B. Creativity, self-reliance and ability to adapt
C. Leadership
D. Motivation to fail
4. A B C D
OOOO
5. An individual who initiates, creates and manages a new business can be called
_____________.
A. A leader
B. A manager
C. A professional
D. An entrepreneur
5. A B C D
OOOO
6. Which could provide an individual with the motivation to start a new business venture?
A. The financial rewards.
B. A desire to be independent.
C. Risk taking
D. All the above
6. A B C D
OOOO
7. Why are small businesses important to a country's economy?
A. They give an outlet for entrepreneurs.
B. They can provide specialist support to larger companies.
C. They can be innovators of new products.
D. All the above.
7. A B C D
OOOO
8. A business arrangement where one party allows another party to use a business name
and sell its products or services is known as__________.
A. A cooperative.
B. A franchise.
C. An owner-manager business.
D. A limited company.
8. A B C D
OOOO
9. Which of the following is the reason for business failure?
A. Lack of market research.
B. Poor financial control.
C. Poor management.
D. All the above.
10. Which of the following is NOT recognized as a misconception about entrepreneurship?
A. Successful entrepreneurship needs only a great idea.
B. Entrepreneurship is easy.
C. Entrepreneurship is found only is small businesses.
D. Entrepreneurial ventures and small businesses are different.
9. A B C D
OOOO
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Entrepreneurship Midterm Exam
10. A B C D
OOOO
Senior High School Department
11. Positive external trends or changes that provide unique and distinct possibilities for
innovating and creating value are called _____________.
A. Strengths
B. Opportunities
C. Weaknesses
D. Threats
11. A B C D
OOOO
12. ______________Is the function concerned with planning and implementing the
conceptions, pricing, promotion and distribution of products or services that will satisfy the
firm’s objectives.
A. Market Strategy Planning
B. Marketing
C. Marketing Strategy
D. Target Marketing
12. A B C D
OOOO
13. It includes the warranties and other conditions attached to the product.
A. Product Offering B. Price
C. Promotion
D. Place
13. A B C D
OOOO
14. Consists of gathering data by interviewing people.
A. observation method
B. survey method
C. experimental method
D. market method
14. A B C D
OOOO
15. Refers to a statistical method of forecasting sales over the long term by using regression
analysis or over the short term using a seasonal index of sales.
A. Trend analysis
B. Market-factor analysis
C. Sales-force composite
D. Executive judgment
15. A B C D
OOOO
16. The business plan:
A. helps determine the viability of your enterprise.
B. helps you obtain financing.
C. guides you as you plan and organize.
D. All of these.
16. A B C D
OOOO
17. When a product like a chair that can carry more weight than the previous model is
introduced in the market, the improvement referred to is about:
A. performance
B. maintenance cost
C. acquisition cost
D. salvage value
17. A B C D
OOOO
18. When a Filipino movie producer made “Drama,” it was a business idea that took the
form of:
A. an old type of business that was professionalized
B. a standard product that was customized
C. an adaption of new technology to manufacture an old product
D. a local product replacing an imported product
18. A B C D
OOOO
19. When a neighbor suggests a business idea, the entrepreneur has just benefited from an
unanticipated means that is:
A. his work
B. his hobbies
C. his acquaintances
D. a chance event encountered by him
19. A B C D
OOOO
20. When stable and sufficient demand is under consideration, the business idea is screened
under the criteria of:
A. market feasibility
B. technical feasibility
C. financing feasibility
D. financial feasibility
20. A B C D
OOOO
21. When practicable, the fastest means to solicit market information is through:
A. mail questionnaires
B. advertisements incorporating feedback mechanisms
C. phone interviews
D. personal interviews
21. A B C D
OOOO
22. When the small business operator cannot produce sufficient capital to operate the
business, the business should be screened out for failing the criteria on:
A. market feasibility
B. technical feasibility
C. financing feasibility
D. financial feasibility
22. A B C D
OOOO
23. When innovation thrives in an organization, it means the organization is characterized by:
A. encouragement of creativity and risk-taking
B. rewards for creativity
C. open communication
D. allowance for errors
23. A B C D
OOOO
24. When the creative employee is allowed to engage in creative activities on hours most
convenient to him and to the company, the firm has adapted as a matter of policy:
A. flexibility
B. a climate of participation
C. allowance for errors
D. open communications
24. A B C D
OOOO
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25. When an employee develops a business idea as a result of direct contact with
customers, this unanticipated means due to:
A. the person’s work
B. the person’s hobbies
C. the person’s acquaintances
D. a chance event encountered by the person
25. A B C D
OOOO
26. The projected cash flow statements shows:
A. the planned or expected cash sales and/or purchases
B. the summery of the firm’s planned or expected financial performance in terms
of revenues, expenses, and profits over a given time period
C. the planned or expected financial position of the firm on a particular date
D. the sources and uses of funds during a given period
26. A B C D
OOOO
27. The forecast of something which will happen in the future is referred to as a;
A. projected income statement
B. projected financial statement
C. projected balance sheet
D. projected cash flow statement
30. A B C D
OOOO
28. The free-flowing exchange of ideas between the members of an organizing is referred to
as _____;
A. Allowance for errors
B. A climate of participation
C. Flexibility
D. Open Communication
27. A B C D
OOOO
29. Refers to the process of determining the primary objectives of the firm and then
adapting courses of action and allocating resources to achieve those objectives.
A. determinations of objectives
B. adoption of course of actions
C. strategic planning
D. allocation of resources
28. A B C D
OOOO
30. How the entrepreneur intends to use his resources and others.
A. mission statement
B. strategic objectives
C. strategy
D. adoption of course of actions
29. A B C D
OOOO
31. The ___________ is to be able to deploy the right quality and quantity of resources
A. aim of strategic planning
B. new business
C. SWOT
D. strategic planning
31. A B C D
OOOO
32. One example of the mission statement concern is
A. expand production capacity by 50% within 2 years
B. strategic planning
C. how the entrepreneur intends to use his resources
D. forecast of future sales performance
32. A B C D
OOOO
33. This gives sufficient reason to disregard the benefits of strategic planning.
A. Lack of expertise
B. Resource poverty
C. Focus on daily operations
D. All of the above
33. A B C D
OOOO
34. Refers to the chance offered by the external environment to improve the firm’s situation
significantly.
A. weakness
B. threats
C. opportunity
D. strength
34. A B C D
OOOO
35. A document that helps the SBO determine what resources are needed to achieve the
objectives of the firm, and the like:
A. financial plan
B. marketing plan
C. human resources plan
D. business plan
35. A B C D
OOOO
36. The part of the business plan that indicates the name of the business, the names of the
proponents, address, and others:
A. title page and contents
B. executive summary
C. description of the business
D. description of the product of service
36. A B C D
OOOO
37. The part of the business plan which contains information on the capital needs of the
business how the money will spent, what benefits will be derived by the business from the
loan or investment, among others:
A. executive summary
B. description of the business
C. description of the product of service
D. market strategies
37. A B C D
OOOO
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38. When the business owners is determining which part of the total potential market will be
served by the firm, he is actually developing a market strategy referred to as:
A. definition of the market
B. determination of the market share
C. position strategy
D. pricing strategy
38. A B C D
OOOO
39. When the business owners wants to know what the customers really want to buy from the
firm, he is starting to develop a:
A. pricing strategy
B. positioning strategy
C. distribution strategy
D. promotion strategy
39. A B C D
OOOO
40. A method of pricing where the firm sets prices based on buyer desires:
A. cost plus pricing
B. demand pricing
C. competitive pricing
D. markup pricing
40. A B C D
OOOO
41. They sell directly to consumers:
A. brokers
C. retailers
41. A B C D
OOOO
B. wholesalers
D. manufacturer’s representatives
42. This portion of the promotion strategy is a detailed presentation of the publicity strategy
of the firm:
A. advertising aspects
B. packaging
C. public relations
D. sales promotions
42. A B C D
OOOO
43. That portion of the business plan that contains the organizational structure, operating
expenses, capital requirements, and cost of goods sold:
A. market strategies
B. analysis of the competition
C. operations and management
D. financial data
43. A B C D
OOOO
44. The financial statement that shows the financial condition of the business as of a given
data:
A. income statement
B. cash flow statement
C. balance sheet
D. statement of planning premises
44. A B C D
OOOO
45. The __________ details a company's assets and liabilities at a certain period of time.
A. income statement
B. cash flow statement
C. balance sheet
D. statement of planning premises
45. A B C D
OOOO
46. Accounts receivable (AR) is the balance of money due to a firm for goods or services
delivered or used but not yet paid for by customers
A. Cash
B. Receivables
C. Cash Sales
D. Other Incomes
47. Is a business owned and operated by a single person.
A. Corporate
B. Partnership
C. Sole Proprietorship
D. Incorporated
46. A B C D
OOOO
48. This Authority is very important especially under critical moments of competition.
A. Government Regulation
B. Control of the Business
C. Taxation
D. Secrecy
48. A B C D
OOOO
49. Which of the following is not included with regards the advantages of partnership?
A. Ease of Formation
B. Unlimited Liability
C. Tax Advantage
D. More source of capital
49. A B C D
OOOO
50. Every entrepreneur should draw an ______________ for his project to ensure the timely
completion of allactivities involved in setting up an enterprise.
A. cost structure
B. implementation plan
C. market structure
D. production structure
50. A B C D
OOOO
47. A B C D
OOOO
-End of Examination-
Prepared by:
RAY CHRISTIAN P. FAUSTINO
Entrepreneurship Teacher
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Entrepreneurship Midterm Exam
Senior High School Department