WorksheetsENTREPRENEURSHIP LONG TEST
Total questions: 50
Worksheet time: 25mins
Aside from basic requirements to start, there are also other steps to follow before operating a business. Which of the following Is not included?
Advertise the business
Secure insurance of the business
Set up an accounting system
File BIR registration
Which of the following is NOT TRUE about liquidity ratio?
The ability to convert assets into cash quickly and cheaply
Use to work out if a company can repay creditors from the total cash, they have available
The higher the ratio is for that company, the more liquid their assets are and the more able they'll be to pay off short-term debts
Inventory and Debtors are not included while calculating this ratio because there is no guarantee of their realization
The following are the statements that best explain the statement of cash flow. Which does not belong?
Net Cash Flow = Operating Cash Flow + Cash Flow from Financial Activities (Net) + Cash Flow from Investing Activities (Net)
If Company A had P150,000 cash inflow, P100,000 cash outflow so
Net cash flow would be 50,000
It’s a key indicator of a company’s financial health
Purchase/Sale of Property and Equipment (P50,000) + Purchase/Sale of Other Businesses (P75,000) + Purchase/Sale of Marketable Securities (P25,000) = Cash Flow from Investing Activities
(P100,000)
It is a necessary to calculate the ________ amount of each ingredient that will be needed to formulate a batch of products.
Equipment required
Packaging
Production planning
Raw materials and ingredients
Some creditors and investors use this ratio to measure how effectively their company convert sales into income.
Efficiency ratio
Liquidity ratio
Profitability ratio
None of the above
Mr. Manalo needs to register himself as an employer and for remitting his employee's contributions together with his employer's share.
BIR registration
DTI registration
Mayor's business permit
SSS and Phil health
Develops the habit of thinking continually about how the products are positioned in the hearts and minds of customer.
Packaging
Place
Positioning
Product
Each task should be paired with an appropriate time frame for completion.
Objective
Progress
Task
Time allocation
Is an essential written document that provides a description and overview of your company's future.
Business plan
Feasibility study
Marketing plan
Strategic Plan
Which of the following is helpful in deciding the technical requirements of the business?
The cost of the raw materials satisfactory
Suitable packaging materials available and affordable
Distribution procedures to retailers or other sellers are established
All of the above
This is the most challenging aspect of starting a business. Choose the right name and customers will immediately identify with your value proposition.
Brand name
Tagline
Logo
None of the above
This is the way where the product or service appears from the outside.
Packaging
Place
Product
Promotion
Refers to the value we pay in exchange for the product and services offered by a company.
Packaging
Place
Price
Product
Also known as net working capital (NWC), is the difference between a company's current assets such as cash, accounts receivable/customers' unpaid bills, and inventories of raw materials and finished goods-and its current liabilities, such as accounts payable and debts.
Initial investment
Operating capital
Start -up capital
Working capital
Involves the decision on the number and types of workers that are required to operate the proposed business are taken in conjunction with decisions on equipment procurement.
Equipment required
Packaging
Production planning
Staffing levels
After completing the study of technical feasibility, the entrepreneur should have then sufficient information to determine the amount of money that is needed to buy the facilities, and equipment to register and license the business and get the necessary certificates.
Initial investment
Initial capital
Start -up capital
Working capital
Refers to where consumers buy your product, or where they discover it. Today's consumers may learn about products and buy them online, through a smartphone app, at retail locations, or through a sales professional.
Packaging
Place
Product
Promotion
The following are incurred by Corpuz delivery services statement of financial position for the month of June 30, 2023: P330,000 total asset, P100,000 total liabilities. How much is the owners' equity?
P440,000
P230,000
P660,000
P210,000
It is when examining the facilities, vehicles, tools, and everything needed in place to ensure the safety of the employees while maximizing the efficiency and productivity of the department.
Machine
Manpower
Material
Method
For the month of June, 2022 Mrs. Matira has a total income of P500,000 and a total expense of P550,000, What would be the possible outcome for this scenario?
No effect in the operation of her business.
There is a net income.
There is a net loss.
Just continue operating the business.
The following are users of financial statements except one
Management
Neighborhood
Shareholders
Suppliers &lenders
There are methods in showing enthusiasm for the product. Which of the following should be the first?
Emphasize the perks of the product to customers
Ensure that the product has been adequately explained
Share your love of the product
Study the product
The decisions on equipment requirements are influenced by the following
The cost and availability of machinery
The availability of people who are skilled in maintenance and repair
The availability and cost of spare parts and the possibilities of local equipment fabrication
All of the above
Which of the following contents of production or technical feasibility that the pan should indicate how the different stages in a process are linked together?
Equipment required
Packaging
Production planning
Raw materials and ingredients
Selection of this frequently causes the largest problems for small producers and is often the main cause of delay in getting a business established.
Equipment required
Packaging
Production planning
Raw materials and ingredients
To be successful in business, an entrepreneur must develop thinking in terms of exactly who is going to carry out each task and responsibility.
Packaging
People
Positioning
Product
It include both costs of goods sold (COGS) and other operating expenses-often called selling, general, and administrative (SG&A) expenses.
Fixed cost
Operating cost
Variable cost
None of the above
One of the 4 Ms of Production use the inventory management system to establish what is needed and at what inventory stock levels impact.
Machine
Manpower
Material
Method
Mr. D. Maguiba finds out that his sales declined, what does the main reason?
Customers can no longer relate to the product/service offering as needs have changed or evolved.
Customers are looking for greater convenience in product use.
Demand for the product is lower than earlier.
All of the above
The overall management team leader needs to be in charge in monitoring each task's progress and the completion percentage of each objective.
Objective
Progress
Task
Time allocation
When examining the method, which are now in place, what is the ideal number of people it will take to perform these methods and what positions should they be in?
Machine
Manpower
Material
Method
A transaction that includes an exchange of services or goods for a certain amount of money. In other words, any activity that involves transferring the ownership of a good or commodity to the buyer in exchange for a monetary price is known as a sale.
Sales
Expenses
Turnover
Income
This study is next conducted once an entrepreneur has found information about potential consumers, their requirements, and the likely share of the market that could be obtained for a new product, It is then necessary to assess whether production is technically feasible.
Financial Feasibility
Management feasibility
Marketing feasibility
Technical feasibility
The overall management team leader needs to be in charge of each objective.
Objective
Progress
Task
Time allocation
Refers to a company's plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. This is important for both new and established businesses
Business model
Marketing plan
Business plan
Business simulation
One of the guidelines for successful business plan implementation must have a clear crystal and specifically spelled out.
Objective
Progress
Task
Time allocation
Refers to specific and thoughtful advertising that reaches the target market for the product.
Packaging
Place
Product
Promotion
This part detail what must be accomplished to achieve the objectives.
Objective
Progress
Task
Time allocation
It is defined as physical goods or services sold to make a profit for the business.
Packaging
Place
Price
Product
Which of the following guidelines for successful business implementation that describe the details that must be to achieve the objectives?
Objective
Progress
Task
Time allocation
Once the form of the business has been decided, there are basic requirements to start commencing a business in the Philippines. Which of the following offices to which you register your business trade name?
BIR registration
DTI registration
Mayor's business permit
SEC registration
This is needed in place to perform all parts of production and are they conveniently located to minimize waste?
Machine
Manpower
Material
Method
Generally refers to the amount of money, property, and other transfers of value received over a set period of time in exchange for services or products.
Capital
Expenses
Income
Operating cost
This method sells products as an owner-salesperson. Analyzing that it is important to make the product information available through as many channels as possible.
Familiarize yourself with all aspects
Market the product
Review the sales performance
Troubleshoot sales
What term refers to each task that should be paired with an appropriate time frame for competition?
Milestone
Progress
Task
Time allocation
Mr D. Maguiba needs to examine his cash and other payables. He is planning to invest office equipment needed in business.
Statement of Cash flow
Statement of Comprehensive income
Statement of Financial position
Statement of Retained earning
It is a business's overall plan for reaching prospective customers and describes a value proposition and key messages, and it has information about who the target market is - where they shop and what drives them to make a purchase.
Marketing goal
Marketing mix
Marketing Plan
Marketing strategy
Calculate the following given: Mr D. Maguiba has a total revenue of P96,545 and a total expense of 70,900 how much his net income?
P167,445
P25,645
P25,745
None of the above
Mr. Corpuz has a total owners' equity of P50,000, additional investment of P2,000 for the month of June 1, 2023, He withdrew amounting of P15,000 to buy office equipment. How much is his owners' equity for June 30, 2023?
P37,050
P70,000
P37,000
P67,000
Which of the following are steps recommended in establishing the right business model?
Size the value of the solution in the target segment
Test the channel and supply strategy
Plan and execute a pilot or local output
All of the above
