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Entrepreneurship Finals Reviewer

Total questions: 24

Worksheet time: 12mins

Name
Class
Date
1.

The process of accomplishing a plan to make a business concept a reality

a)

business idea

b)

business implementation

c)

business organizing

d)

business structuring

2.

Daily activities that a business engages I bn.

a)

business operations

b)

operation workflow

c)

business analysis

d)

business planning

3.

It shows the interrelationship of positions of individuals in a business enterprise.

a)

business operation

b)

functional structure

c)

organizational structure

d)

business implementation

4.

Organizational structure is applicable to small businesses

a)

simple structure

b)

functional structure

c)

divisional structure

d)

matrix structure

5.

The visual layout of a business process.

a)

operation workflow diagram

b)

business layout

c)

operation elements

d)

business flowchart

6.

A process that involves ensuring sufficient raw materials, staff, and other necessary items to create finished products.

a)

dynamic planning

b)

production planning

c)

production schedule

d)

production programming

7.

The allocation of resources, processes, or events to create goods or services

a)

production plan

b)

product line

c)

production schedule

d)

static planning

8.

The overall administration of business to create the highest level of efficiency within an organization.

a)

operations management

b)

operational supervision

c)

operational control

d)

enterprise delivery system

9.

The process of overseeing the activities of business operations, department or facility, and managing the efficiency of employees.

a)

operations management

b)

operational supervision

c)

operational control

d)

enterprise delivery system

10.

The main purpose of bookkeeping.

a)

to publicize the recent developments in the business

b)

to inform the public of its new product innovation

c)

to keep a record of all financial transactions of the business

d)

to inform the investors of the investment of the business

11.

Business organizations should require employees to be engaged in implementing business ideas.

a)

Invest in training.

b)

Consider other factors.

c)

Have open communication.

d)

Get staff and management involved.

12.

“When the organization shares its ideas and goals with its staff, the staff will also feel a sense of ownership and loyalty to the business. "

a)

change

b)

clear priorities

c)

moving forward

d)

organizational development

13.

An entrepreneur has a business that offers cosmetics and household needs. To be able to concentrate on each product's performance, the entrepreneur divides the organization according to products.

a)

product departmentalization

b)

geographical departmentalization

c)

matrix structure

d)

functional structure

14.

An entrepreneur designed the organizational structure of his business, assigning a functional manager and a project manager for each product. They have a dual reporting relationship.

a)

divisional structure

b)

functional structure

c)

matrix structure

d)

simple organizational structure

15.

It involves the identification of manpower needed to operate a business

a)

staffing

b)

location

c)

technology

d)

process

16.

"Improves the way her staff reserves every order of customers through the use of a new reservation system for stocks. "

a)

staffing

b)

location

c)

technology

d)

process

17.

Accepts contactless electronic payments from customers.

a)

staffing

b)

location

c)

technology

d)

process

18.

The business must prepare just enough goods or services for production.

a)

market demand

b)

product line and capacity

c)

market segment

d)

capital and financing requirements

19.

The estimated demand, the number of machines, and the labor hours the product consumes.

a)

market demand

b)

product line and capacity

c)

market segment

d)

capital and financing requirements

20.

An entrepreneur decreases the number of business product lines to be able to focus and meet the demand of their primary target market.

a)

market demand

b)

product line and capacity

c)

market segment

d)

capital and financing requirements

21.

A business owner, offering personalized mugs, do not create too many sample product for display in his store. Instead, he used pictures of products for different designs and labels as a brochure.

a)

dynamic planning

b)

static planning

c)

scheduled planning

d)

programmed planning

22.

The manager should always set goals and work towards the customer’s best interest.

a)

simplify processes

b)

prioritize the customer

c)

communicate effectively

d)

invest in new technology

23.

A bookkeeping system is important The business owner can track all information necessary in making his operating, investing, and financing decisions.

a)

True

b)

False

24.

The business keeps track of its payments to its suppliers to preserve its credibility to its suppliers and manufacturers.

a)

True

b)

False