Entrepreneurship-2ndQ

The following are the characteristics of sole proprietorship, EXCEPT _________________.

• It is easy to form and manage.

• It is simple business operation.

• It has a legal entity that is separate from its owner.

• It has limited pool of resources.

Which of the following important factors in the selection of raw materials that the entrepreneur may consider?

I. Cost

II. Quality

III. Waste that the raw material may produce

IV. Credibility of suppliers

• I and II only

• I, II, and III only

• I, II, and IV only

• I, II, III and IV

What specific criteria related to manpower should be given significant consideration, considering it is deemed the most critical and pivotal factor in the production process?

I. Educational qualifications and experience required for the job.

II. Status of employment, whether permanent or temporary.

III. Number of workers required for the job.

IV. Availability of spare parts in the local market

• I and II only

• I, II, and III only

• I, II, and IV only

• I, II, III and IV

The selection of the method of production is dependent on these factors, EXCEPT ONE_____________.

• Product to produce

• Mode of production

• Manufacturing equipment to use.

• Amount of salary or wages of workers

The following are the government-mandated benefits, EXCEPT ________________.

• Maternity leave

• Paternity leave

• PhilHealth benefits

• Life Insurance

After receiving applications, the HR team at Milkyway Corporation reviews resumes and applications to shortlist candidates. What is the primary purpose of this step?

• To identify the most qualified candidates.

• To conduct background checks.

• To check candidates' social media profiles.

• To verify candidates' educational backgrounds.

The following factors that serve as basis in forecasting revenues of the business, EXCEPT __________.

• The economic condition of the country

• The internal aspect of the business

• Changes happening in the community

• The business permit and license that need to secure.

Darla is the owner of Book Store, she is selling an average of 30 books a day at Php 250.00 per piece. She purchased it from supplier at Php 150.00 per piece. How much is the sales for one day?

• Php 4,500.00

• Php 7,500.00

• Php 37,500.00

• Php 12,000.00

What is the impact of an increase in operating expenses on the net income?

• Net income increases

• Net income decreases

• No impact on net income

• Net income remains constant

Casper is the owner of Happy Puto, the unit cost of Puto is Php 4.00 and he adds 50% on its cost price. Which of the following describes the percentage added to the cost to come up with the selling price?

• Cost

• Mark Up

• Net Profir

• Cost of goods sold