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WorksheetsENTREP 2ND QUARTER
Total questions: 35
Worksheet time: 45mins
1. Which of the following is NOT a form of entrepreneurial venture?
a) Sole Proprietorship
b) partnership
c) corporation
d) franchise
2. What type of business is engaged in buying and selling products without altering their appearance?
mmanufacturing
sservice
Merchandising
AAgriculture
3. Which production system is adopted when the demand for a product is considered constant and production is not based on customer orders?
Intermittent production system
Continuous production system
Just-in-time production system
Project method
4. What is the term for the amount added to the cost of a product to determine its selling price?
Gross Profit
Operating Expenses
Mark Up
Net Profit
5. Which of the following is a fixed cost?
Salaries of sales staff
Rent
Cost of Good Solds
Packaging cost
6. What is the process of convincing or encouraging a prospective applicant to fill a vacant position?
Selection
Training
Recruitment
Orientation
7. What is the document that defines the duties and responsibilities of a particular position?
Job Description
Job Specification
Ccompany manual
Oorganization Policies
8. What is the term for the amount of money needed to buy facilities, equipment, and register a business?
Working Capital
Revenue
Gross Profit
Start-up Capital
9. What is the process of transferring information from the journal to the ledger?
Bookeeping
Trial Balance
Posting
Footing
10. What is the listing of debit and credit balances of accounts from the general ledger?
Trial Balance
Ledger
Financial Plan
Journal
11. Which of the following is NOT a tangible asset?
CCash
Patents
Supplies
EEquipment
12. What is the term for the financial obligations arising from goods purchased or services received?
Accounts Payable
Notes Payable
Salaries
Pagmamahal
13. What is the term for the original and additional investment of the owner?
Drawing
Capital
Expense
ALIN DIYAN?
14. What is the term for the expenses on payment of salaries?
Store Supplies Expense
Taxes and Licenses
Miss kona Siya
Salaries and Wages
15. What is the term for the income generated from the primary operations of the business?
Gains
Siya lang talaga
Revenue
Capital
16. What is the official business document issued by the buyer to the seller of goods?
Report
Beyonce
Purchase Order
Invoice
17. What is the commercial document that indicates payment or receipt of cash?
Official Receipt
Maris Racal??
Purchaise Order
Delivery Receipt
18. What is the process of adding the debit and credit money columns of the ledger and finding their balances?
Posting
Classifying
HINDI KO ALAM
Footing
19. What is the purpose of the trial balance?
To Record all Business Transaction
To prepare financial statement
To Prove the equality of debit and credit
crush ko
20. What is the systematic recording of financial aspects of business transactions in appropriate books of account?
Accounting
Bookkeeping
Financial Statements
Ayoko na
1. What is the term for the process of executing a plan into practice?
2. What is the term for the costs associated with the manufacturing process?
3. What is the term for the difference between revenue and the cost of producing goods or services sold?
4. What is the term for the amount by which income from sales is larger than all expenditure?
5. What is the term for the process of grouping similar business transactions and events?
6. What is the term for the document that serves as an evidence that the goods or services are received?
(a)
7. What is the term for the internal business document that authorizes the incurrence or payment of obligations?
(a)
8. What is the term for the book of original entry?
(a)
9. What is the term for the book of final entry?
(a)
10. What is the term for the accounting equation that states that the business assets are financed by two parties: creditors and the owner?
(a)
1. List the four forms of entrepreneurial ventures.
What are the 4ms?
3. List the five categories of accounts or elements of accounting.
4. List the four types of business documents that support transactions.
5. List the three types of inventory for a manufacturing business.
