WorksheetsEntrepreneurship Quiz 2.1
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
1. When Jessa tried to register their business name "Brew & Bond" for their milk tea shop, she was advised to go to the correct office. Where should she go?
a)
SEC
b)
DTI
c)
BIR
d)
Mayor's Office
2.
2. Before expanding their milk tea shop into a partnership with classmates, Carlo reminded the team that registration will now be done at which office?
a)
SEC
b)
DTI
c)
BIR
d)
PhilHealth
3.
3. To secure their Tax Identification Number (TIN) for official receipts, where should the group apply?
a)
Mayor's Office
b)
BIR
c)
SEC
d)
SSS
4.
4. As they began hiring staff, their teacher reminded them that both employees and employers are responsible for making monthly contributions. This refers to which funds?
a)
SSS, PhilHealth, and Pag-ibig
b)
SEC and BIR
c)
DTI and Mayor's Office
d)
Insurance companies
5.
5. Before opening the store, Alyssa suggested creating a Facebook page for promotion. Which step of business implementation does this fall under?
a)
Registration
b)
Advertising
c)
Record keeping
d)
Securing insurance
6.
6. The group listed tasks such as designing the menu, finding suppliers, and securing permits. Why is it important to assign each task to a specific person?
a)
To avoid tax penalties
b)
To ensure accountability
c)
To save on expenses
d)
To advertise effectively
7.
7. When the group set a two-week deadline for preparing their shop interior, which guideline of implementation were they applying?
a)
Objectives
b)
Tasks
c)
Time allocation
d)
Progress review
8.
8. After one month, they noticed delays in supplier deliveries. Their review of unfinished tasks reflects which guideline in business plan implementation?
a)
Progress monitoring
b)
Setting objectives
c)
Time allocation
d)
Record keeping
9.
9. The group kept receipts, invoices, and contracts in both printed and digital copies. What practice are they applying?
a)
Progress monitoring
b)
Record keeping
c)
Tax filing
d)
Advertising
10.
10. If their records reveal that expenses are higher than sales, what is the main benefit of keeping business records?
a)
Meeting legal requirements
b)
Protecting rights
c)
Measuring profit and performance
d)
Managing potential risks
11.
11. Their teacher suggested joining the local Chamber of Commerce for networking. What is the advantage of this step?
a)
It ensures low taxes
b)
It expands market knowledge and connections
c)
It substitutes for record keeping
d)
It replaces advertising
12.
12. The group was advised to secure fire and liability insurance for their shop. What is the main purpose of this?
a)
To attract more customers
b)
To protect the business from risks and litigation
c)
To replace the need for accounting
d)
To increase staff efficiency
13.
13. After reviewing their daily sales, Carlo noticed a sudden drop in customer visits. Which aspect of business implementation is he practicing?
a)
Advertising
b)
Progress review
c)
Registration
d)
Staff training
14.
14. When Jessa proposed opening a second branch within two months, Carlo reminded her to ensure objectives are realistic. What principle is he emphasizing?
a)
Unrealistic planning
b)
Clear and achievable goals
c)
Advertising techniques
d)
Employee contributions
15.
15. The group hired an accountant to help them manage income and expenses. Why is this step important?
a)
To avoid competition
b)
To manage financial health and survival
c)
To eliminate record keeping
d)
To replace advertising
16.
16. Before printing flyers, they created a marketing budget. Which component of the business plan does this belong to?
a)
Finances
b)
Operations
c)
Infrastructure
d)
Management team
17.
17. Carlo reminded the group that selling immediately without securing permits can cause penalties. Which implementation guideline did he consider?
a)
Legal compliance
b)
Time allocation
c)
Record keeping
d)
Progress monitoring
18.
18. Alyssa suggested evaluating customer feedback through surveys. Which benefit of record keeping or monitoring does this represent?
a)
Identifying employee efficiency and customer service
b)
Protecting against hidden costs
c)
Avoiding insurance expenses
d)
Meeting SEC requirements
19.
19. The teacher emphasized that professional advice should not only be sought at the start but also throughout the business operation. Which statement is correct?
a)
Advice is only needed once before opening.
b)
Advice is needed continuously.
c)
Advice wastes money.
d)
Advice is only for big corporations.
20.
20. Finally, the group realized their records could also be used as a resource for creating new strategies. Which benefit of record keeping is this?
a)
Meeting tax requirements
b)
Serving as resource for decision-making
c)
Identifying competition
d)
Measuring staff attendance
100 %
