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Short Quiz #1_Entrepreneurship

Total questions: 15

Worksheet time: 5mins

Name
Class
Date
1.

_____________ is the owner's share of the assets of a business.

a)

Owner's Equity

b)

Liabilities

2.

A _________________ details the computation of net revenue by deducting cost of sales, expenses, and taxes.

a)

Financial Statement

b)

Balance Sheet

3.

This refers to the high value asset that is submitted by the business to the bank when applying for a loan.

a)

Collateral

b)

Revenue

4.

This can be described as the "best friend" of manpower in producing goods and offering services.

a)

Manpower

b)

Machines

5.

_________________ is a one to two day session that summarizes the history of the business, mission and vision, policies, etc.

a)

Human Resource Department

b)

Employee Orientation

6.

This is the process of bringing the products or service to the customers. This is not a straight process from the entrepreneur to the customers.

a)

Distribution

b)

Contribution

7.

This serves as a step-by-step guide of the employee and the manufacturing equipment.

a)

Manufacturing Program Flow

b)

Manufacturing Process Flow

8.

A type of floor plan that where similar items are grouped together.

a)

Product-based Layout

b)

Process-based Layout

9.

A type of floor plan where the product equipment, tools and machines are located according to how a product is made.

a)

Process-based Layout

b)

Product-based Layout

10.

A manufacturing site that provides the entrepreneur substantial freedom and flexibility to design and run the commercial space.

a)

Commercial space for rent

b)

Commercial space purchase

11.

A manufacturing site that gives the entrepreneur a more specialized and suited manufacturing site than the manufacturing at home.

a)

Commercial space for rent

b)

Commercial space purchase

12.

This is the process of translating raw materials into finished goods.

a)

Manufacturing

b)

Manafacturing

13.

A ___________ is a preliminary model or sample of new product or service that is created to test a product concept or service process.

a)

Protetype

b)

Prototype

14.

Testing product prototype that ensure the product is safe to use, safe to be consumed and safe to be applied.

a)

Component Test

b)

Safety Test

15.

This aspect represent the day to day operations of business.

a)

Methods

b)

Mathods