Republic of the Philippines
Department of Education
Region II – Cagayan Valley
Schools Division of Cagayan
Camalaniugan National High School-Catotoran Annex
ENTREPRENEURSHIP
NAME: _____________________
SECTION: _______________
I. MULTIPLE CHOICE: Read the question carefully and encircle the letter of the correct answer.
1.What is critical in any business endeavor as the businessman would want to have the cheapest possible at
the highest quality?
A. Materials B. Machine C. Manpower D. Method
2. What is the systematic way of doing a particular job?
A. Methods B. Machine C. Manpower
D. Material
3. What is all about delivering products and services to customers to meet or surpass the expectations?
A. Operation Management B. Quality expectations
C. Delivery expectations
D. Product selection
4. They are called the worker.
A. Materials B. Machine C. Manpower
D. Product
5. What is all about the cost or the amount at which something is valued and defined as to put a cost on
something or find out a cost?
A. Price
B. Delivery C. Quality
D. Product
6. What is the transformation process where input is converted into output?
A. Input
B. Process
C. Output
D. Delivery
7. What refers to the system and step by step process in the business?
A. Machine B. Manpower C. Method
D. Delivery
8. What is controlled by people or a machine itself to produce the necessary or required number of productions
needed?
A. Materials B. Machine C. Manpower
D. Input
9. What is the key responsibility of operations management?
A. Services Required
B. Supplier Selection
C. Products Selection
10. What expectations are captured in the discussions with the customer and then refined for inclusion in the
project product description?
A. Quality Expectation
B. Price Expectation
C. Delivery expectation
D. Potential Market
11. Which of the following should be taken into consideration in making an effective product description?
A. Company’s objectives
B. Potential Market
C. Investors point of views D. Product undesirable features.
12. Why does testing a prototype considered as a significant phase of product development?
A. It allows to see the unviability of the products.
B. To know whether the product specification is functioning well.
C. To be able to evaluate if the products need adjustments or not.
D. B and C
13. What do you call a method of prototyping wherein the output is said to be like the product itself, but it is
not interactive and clickable?
A. Mock-ups
B. Duct Tape
C. Wireframes
D. Bailing Wire
14. What should be included in the product description of products and services?
A. Features
B. Price
C. Benefits
D. All of the above
15. What do you call an early sample, model, or release of product to test a process or concept?
A. Model
B. Clone
C. Prototype
D. Mock-ups
16. Which of the terms below refers to the marketing copy used to describe a product’s value to potential
customers?
A. product description
C. product prototype
B. product design
D. product value
17. Which of the terms below means someone who is capable of becoming a purchaser of a product or a
service?
A. business partner
B. investor
C. potential customer
D. target market
18. What is the first and arguably the best way to validate the marketability of your product?
A. Making initial sales
C. Receiving product recommendations
B. Receiving orders
D. Receiving positive comments from the product testers
19. Mr. Villanueva uses small amounts of capital from his friends, who believe that Mr. Villanueva’s new
product is a breakthrough, to finance his new business venture. What marketability validation is he using?
A. beta testing
C. crowd-funding
B. competitive analysis
D. ringing the cash register
20. Marie wants to know what particular features of the products sold by 4TEA5, ZenTEA, and TEAresa are
appealing to the public. What validation method should Marie use?
A. beta testing
C. crowd-funding
B. competitive analysis
D. research existing demand
21. Nicole wants to find out whether her “pizza flavored daing na pusit” is marketable in their area, so she
decided to participate in a trade fair intheir barangay so that she may ask in person what her buyers like and
dislike about her pizza. What validation method is used by Nicole?
A. beta testing
C. meeting the customers
B. competitive analysis
D. research existing demand
22. As a newbie in business, Angelo wanted to make sure that there is a demand for the product he would
offer. Thus, he searched for the product trends on the internet. What validation method did Angelo use?
A. beta testing
C. research existing demand
B. competitive analysis
D. ringing the cash register
23. Michelle has recently found out that banana stalks could be made into flavored chips. She though this
could be a big hit in the market especially that Filipinos are now becoming heath conscious. She decided to
make some and give as them token to the attendees of her 18th birthday. What validation method was used by
Michelle?
A. beta testing
C. meeting the customers
B. competitive analysis
D. research existing demand
24. Why does competitive analysis say that competition is good?
A. It makes a business strive hard to beat its competitors.
B. It confirms an existing demand for a product or a service.
C. It motivates businesses to make innovations to take lead from their competitors.
D. It is both beneficial to the buyers and the businesses.
25. What should be done when your potential buyers are not interested in your product?
A. Play around with some methods of delivery and adding value.
B. Test your product with a few variants of concepts.
C. Do your research and find out what feature should be changed or added.
D. All the choices are correct.
26. Mario and James agreed to establish a business venture together. Mario will contribute money while James
will contribute his managerial skills and aportion of a lot he owns at downtown. What type of business are
they going to establish?
A. Sole Proprietorship
C. Corporation
B. Joint Venture
D. Partnership
27. What is the main reason why we need to register our business to the Bureau of Internal Revenue?
A. To become part of nation building through payment of proper business income tax.
B. To receive subsidy from the government.
C. To be a good citizen of the country.
D. To have a free advertisement.
28. This document is one of the most important one. It shows that you have been give the privilege to operate
your business within the jurisdiction of the municipality or city where your business is located. What kind of
permit is this?
A. Congressional Permit
C. Barangay Permit
B. Governor’s Permit
D. Mayor’s Permit
29. If you and your friends decided to establish a corporation, what agency of the government should you
apply for a license other than the Department of Trade and Industry?
A. Department of Budget and Management
C. Bangko Sentral ng Pilipinas
B. Securities and Exchange Commission
D. Department of Finance
30. These are like guiding stars that will lead you to the success of your business enterprise. What are these?
A. Loyalty, integrity and values
C. Mission, virtue and values
B. Charity, humility and vision
D. Mission, vision and values
31. Which of the following is NOT a requirement in obtaining a barangay permit?
A. DTI registration certificate
C. Fire safety clearance
B. Valid identification cards
D. Barangay clearance
32. In what way you can become part of the community’s economy and fulfillment of social responsibility?
A. By using profit to expand the business
C. By paying business permit fee
B. By creating jobs for the people
D. By donating to a charity
33. Which of the following type of organizational structure allows collaboration among teams and individuals?
A. Line and Staff Organization Structure
C. Line Organizational Structure
B. Functional Organization Structure
D. Project-based structure
34. Mr. Juancho Mariano is planning to establish his business. He talked to the owner of stalls near the market
for a possible rental agreement. The latter agreed to have Mr. Mariano rent one of the stalls. What type of
contract should they sign together?
A. Contract of employment
C. Logistical contract
B. Joint venture contract
D. Lease contract
35. What should be the main criteria for hiring people into your business?
A. Neatly dressed and has communication skills
C. Good character and competence
B. Good character without competence
D. Pleasing personality only
36. Which of the following is an advantage to a supplier of delivering products on time consistently?
A. Lower payment
C. Lower trading costs
B. Repeating orders
D. Minimal buffer stock consumed
37. Which of the following factor to consider as the most important choosing the right suppliers?
A. Price
C. Reliability
B. Location
D. Partnership
38. Which of the following is the initial stage in a supply chain for a candy bar?
A. The supplier of sugar.
C. The manufacturer of the candy bar,
B. The seller of the candy bar.
D. Transportation between each stage of the candy bar
39. Which area of business will particularly focus to ensure deliveries of product to customer arrive on time?
A. Sales
C. Logistics
B. Finance
D. Marketing
40. Manufacturer X and Y supply manufacturer Z, which supplies customers A and B. Which of the following
statements is best?
A. The supply chain for manufacturer X includes Y, Z, A and B.
B. The supply chain for manufacture Y includes X, Z, A and B.
C. The supply chain for company Z includes X, Y, A and B.
D. All the above.
41. Which of the following statements is true?
A. The supply chain integrates all activities and processes to provide a product or service to the end
user.
B. Raw material in the supply chain typically flows from customer to producer.
C. The supply chain involves only one supplier.
D. All of the above.
42. Which of the following generates the best source of the recommendation for a potential job candidate?
A. Internet
C. Company Web site
B. Employee referral
D. Recruiting organizations
43. Manufacturing is important to the economy because?
A. It adds value to products and services
B. It supports service and production.
C. It creates wealth.
D. All of the above
44. Which of the following best describe the importance of recruiting?
A. To determine whether to use inside or outside candidates.
B. To predict the short-term supply of candidates.
C. To develop and increase the pool of applicant
D. To create positive story about a company.
45. What is the initial step in the recruitment process?
A. Perform candidate background checks.
B. Decide what positions needs to fill.
C. Perform an initial interview.
D. Create a pool of candidates.
46. What refers to goods and merchandise at the beginning of operation of business or accounting period?
A. Merchandise Inventory, end
C. Expenses
B. Merchandise Inventory, beginning
D. Freight-in
47. Mrs. Juana, sold 15 roses at P150.00 each, she needs to purchase another 15 roses for her garden display,
she needs to pay 200.00 for the freight-in. Calculate how much is the cost of goods sold?
A. 2,020.00 C. 2,050.00
B. 2,270.00 D. 2,000.00
48. What refers to amount paid to transport goods or merchandise purchased from the supplier to the buyer?
A. Merchandise Inventory, end
C. Expenses
B. Merchandise Inventory, beginning
D. Freight-in
49. Costs incurred through payment of utilities such as electricity and water -?
A. Revenue
C. Mark-up
B. Operating expenses
D. Free
50. Merchandise or goods purchased are referred to as –?
A. Purchases
C. Costs
B. Operating Expenses
D. Loss
PREPARED BY:
JENNIFER N. MAGADDON
NOTED BY:
EVANGELINE A. ACEBEDO