PRE-TEST

ENTREPRENUERSHIP
Grade-12
CHOOSE THE BEST ANSWER.
1. The way the customers perceive the enterprise and its products or services in
their minds.
a. Product c. Place
b. Packaging d. Positioning
2. The tangible good or the intangible service that the enterprise offers to its
customers in order to satisfy their needs and to produce their expected results.
a. Product c. Place
b. Packaging d. Positioning
3. The bundle of products or services that are put together to attract and delight
customers.
a. Product c. Place
b. Packaging d. Positioning
4. The often recited mantra of salespeople who want to have the best access to their
customers.
a. Product c. Place
b. Packaging d. Positioning
5. Conducting the market and consumer research that would lead to the
development of products and the formulation of the marketing strategy.
a. People c. Promotion
b. Price d. Public
6. The explicit communication strategy adopted by an enterprise to elicit the
patronage, loyalty, and support not only from its customers but also from its
other significant stakeholders.
a. People c. Promotion
b. Price d. Public
7. A major factor for the customer in buying a product, it is not the only factor such
as in the case of buying premium products.
a. People c. Promotion
b. Price d. Public

8. Ensure the physical facilities are set up, employees are hired, and operating
system is installed.
a. Management c. Materials
b. Money d. Manpower
9. Come ahead of the other M’s in order to design and develop the transformation
process.
a. Management c. Materials
b. Money d. Manpower
10. The input that must be converted to the final output.
a. Management c. Materials
b. Money d. Manpower
11. Enables the entire transformation process to operate by manning the machines or
rendering the services required.
a. Management c. Materials
b. Money d. Manpower
12. Is the most useful resource in planning new marketing and sales strategies?
a. Up-to-date database c. Marketing
b. Bookkeeping d. Strategies
13. Records can show whether your business is improving, which items are selling,
or what changes you need to make.
a. Identify sources of your income
b. Keep track of your deductible expenses
c. Monitor the progress of your business
d. Keep track of your basis in property
14. You need this information to separate business from non business receipts and
taxable from nontaxable income. 
a. Identify sources of your income
b. Keep track of your deductible expenses
c. Monitor the progress of your business
d. Keep track of your basis in property
15. Unless you record them when they occur, you may forget expenses when you
prepare your tax return.
a. Identify sources of your income
b. Keep track of your deductible expenses
c. Monitor the progress of your business
d. Keep track of your basis in property

16. To figure the gain or loss on the sale, exchange, or other disposition of property,
as well as deductions for depreciation, amortization, depletion, and casualty
losses.
a. Identify sources of your income
b. Keep track of your deductible expenses
c. Monitor the progress of your business
 d. Keep track of your basis in property
17. These include income (profit and loss) statements and balance sheets. These
statements can help you in dealing with your bank or creditors and help you
manage your business. 
a. Support items reported on your tax returns
b. Prepare your financial statements
c. Prepare your tax return
d. Monitor the progress of your business
18. These records must support the income, expenses, and credits you report.
a. Support items reported on your tax returns
b. Prepare your financial statements
c. Prepare your tax return
d. Monitor the progress of your business
19. If the IRS examines any of your tax returns, you may be asked to explain the
items reported. A complete set of records will speed up the examination. 
a. Support items reported on your tax returns
b. Prepare your financial statements
c. Prepare your tax return
d. Monitor the progress of your business
For item 20-29. Choose what type of PEC’s the following statement illustrates. Write
the letter of your answer in the space provided.
a. Hardworking b. Confident c. Disciplined d. Committed
e. Ability to accept change f. Creative g. Initiative h. Profit-oriented
i. Posses people skill j. Excellent planner
___20. The manager of Soledad habitually working diligently for a long period of
time.
___21. Aling Emalyn always finds way in order to generate extra income to meet her
needs.
___22. The assistant manager of the Oceana Gold avoided to hang out with his co
workers.
___23. Lynmarie have been being loved by his employees for she always consider
suggestions.
___24. Rowena always have an edge over her competitors because she always
innovates.
___25. The employee of BPI was amazed because the bosses take responsibility
despite failure.
___26. The bookkeeper gives full commitment and solid dedication in his work.
___27. Mr. Tiu have confidence in one’s ability and own judgments.
___28. An entrepreneur must be strategic in thinking and have a goal setting.
___29. Mr. Garcia makes sure that he greets his workers and always shows concern
to them.
30. A resource controlled by the business as a result of past transactions and events
and from which future economic benefits are expected to flow to the business.
a. Liabilities c. Capital/ Equity
b. Revenue d. Asset
31. A present debt of the business arising from past events, the settlement of which
is expected to result in an outflow of assets from the business.
a. Liabilities c. Capital/Equity
b. Revenue d. Asset
32. The wealth of the owner in the business enterprise.
a. Liabilities c. Capital/Equity
b. Revenue d. Asset
33. Income earned in the normal course of operations
a. Liabilities c. Capital
b. Revenue d. Asset
34. Generally costs of generating income for the business or costs of maintaining or
sustaining the business
a. Expense c. Costs
b. Income d. Capital
35. A report of the revenue, expenses, and net income or loss for the accounting
period.
a. Balance Sheet c. Income Statement
b. Statement of cash flows d. Cash flow
36. A report of the final balances of all asset, liability, and owner’s equity accounts at
the end of an accounting period.
a. Balance Sheet c. Income Statement
b. Statement of cash flows d. Cash flow
Journalized the transactions of Atty. Sherlyn Paquit
37. Atty Paquit invested Php 200,000 in cash in the law practice
38. Paid Php 12,000 for taxes and licenses.
39. Bought office equipment on account Php 30,000
40. Performed legal services to clients for cash Php 50,000
41. Borrowed Php 20,000 cash from a bank on a note payable
42. Performed legal services for client on account Php 48,000
43. Paid monthly expenses: Salaries and wages Php 18,000, Utilities Php 3,000, and
advertising Php 10,000.
44. Atty. Paquit withdrew Php 16,000 cash for personal use.
45. Paid Php 23,000 for rent of office space
46. Collected one-half of the account on no.42
 CHART OF ACCOUNTS
Cash Accounts payable Paquit, Capital
Accounts receivable Notes payable Paquit, Drawing
Office equipment
Professional fees income
Salary expense
Taxes and licenses
Utilities expense
Rent expense
Advertising expense
47-54. Perform a vertical analysis to the Income Satement of Mang Andoy
Mang Andoy
Income Stement
For the year ended December 31, 2017
Sales Php 10,000,000
Cost of sales (6,500,000)
Gross profit (3,500,000)
Salaries expense (135,500)
Utilities expense (72,000)
Rent expense (38,000)
Depreciation expense (15,400)
Bad debts expense (7,500)
Interest expense (90.500)
Total Profit Php 3,141,100
55-56. Make a balance sheet and income statement for the transaction in number 37
to 46.

Prepare by:

JEROME M. ALCANTARA
Teacher