Republic of the Philippines

Department of Education
Region X – Northern Mindanao
Division of Lanao del Norte
District of Tubod West
RUFO DELA CRUZ INTEGRATED SCHOOL
Poblacion, Tubod, Lanao del Norte

Quarter 4 Third Summative Assessment

ENTREPREURSHIP 11

NAME: ____________________________________ SECTION: ___________SCORE: _________

TEACHER: Vengie P. Paman DATE: ___________________ PARENT’S SIGNATURE: ___________

Part I. Multiple Choice

Directions. Choose the letter of the best answer. Write the letter on space provided.

____1. Refers to the gross income

a. Profit c. Cost
b. Sales Discount d. Operating Expenses

____2. ________refers to the purchase price of the product including of the product including the total outlay required in
producing it.
a. Profit c. Cost
b. Barbershop d. Merchandising

____3. ________ the second level of revenue in the income statement. At this stage, not only the cost of buying or
making the product that has been deducted is included but also the operating expenses.

a. Revenue
b. Operating profit margin
c. Discount
d. Number of Items

____4. What do you called the other term of Income Statement?

a. Revenue c. Sales
b. Selling d. Net profit margin

____5. It is called the measures of its short-term obligations with its most liquid assets and therefore excludes
inventories from its current assets.
a. Sales c. Quick ratio
b. Merchandising d. Freight-in

Part II. COMPUTATION

Directions: Answer the given problem

6-10. Mabelle bought one dozen smartphones for P300,000.00 with a discount of 3%. She sold half dozen at a
price of P18,000.00 per unit. However, a new model of smartphone became available in the market, so she sold
the remaining half dozen @ P12,000.00 each unit. What was her profit or loss?

Compute the following requirements:

a. Gross profit rate
b. Operating profit margin rate
c. Net profit margin rate
d. Return on Investment
11-15. A watch store owner decided to offer 20% discount for a particular brand of watch that sells at
P35,000.00. By doing so, his average sales increased from 5 watches to 12 watches a day. If he bought one
watch at a price of P22,000.00 from the supplier, by how much was his daily profit increased or decreased by
offering such discount on the watch?

Part III. ESSAY. (16-20)

Directions: Explain the important learnings that you have acquired throughout these topics in the module. Explain each
question in not less than 2 sentences. (5 points)

16-20. In your idea, if you became an entrepreneur someday, why gross computation is important?

Prepared by:
VENGIE P. PAMAN
Entrep Teacher 1
 Republic of the Philippines
Department of Education
Region X – Northern Mindanao
Division of Lanao del Norte
District of Tubod West
RUFO DELA CRUZ INTEGRATED SCHOOL
Poblacion, Tubod, Lanao del Norte

Quarter 4 Fourth Summative Assessment

ENTREPREURSHIP 11

NAME: ____________________________________ SECTION: ___________SCORE: _________

TEACHER: Vengie P. Paman DATE: ___________________ PARENT’S SIGNATURE: ___________

Part I. Multiple Choice

Directions. Choose the letter of the best answer. Write the letter on space provided.

____1. A source document evidencing that orders have been placed by the customer waiting to be served by
the supplier
e. Purchase request g. Purchase order
f. Purchase invoice h. Purchase check

____2. The source document evidencing that goods have been delivered by the supplier to the customer-
a. Supplier’s sales invoice e. Customer’s sales invoice
b. Vale slip f. Customer’s delivery receipt

____3. An example of asset that can be used in the business for a long period of time. Usually more than a year.

a. Inventories c. Receivables
b. Computer d. Cash

____4. The most liquid form of asset that can be used anytime to purchase another assets or pay liabilities.
d. Inventories c. Payable
e. Receivables d. Cash

____5. Is a statement of the financial position of a business which states the assets, liabilities, and owners'
equity at a particular point in time.
e. Balance Sheet g. Owner’s Equity
f. Income Statement h. Assets

____6. A source document issued by the supplier acknowledging that full payment has been received from the
customer-
a. Official receipt c. Delivery receipt
b. Purchase receipt d. Receiving report
____7. All of the following are examples of source documents, except-
a. Check c. Contract
b. Invoices d. Journal
____8. A type of business that is engage in buying and selling of food products such as Grocery/convenient stores.
a. Service Business c. Manufacturing business
b. Merchandising business d. Forex Trading Busines

Part II. FILL IN THE BLANKS

Directions: Answer the following fill in blank questions:

9.___________ is an employee of the company in charge to maintain bookkeeping records of the business.

10._____________ Is a report summarizing the ledger accounts with updated balances in debit and credit columns.

11. ____________ Is an entry necessary to update ledger accounts from unadjusted trial balance to adjusted trial balance.

12. _____________ Is a statement that reports the cash inflow and cash outflow of the business.
 13. _____________ Is a record that report cash inflow of the business.

14._____________ Is a type of sales report that presents cash collection only.

15. ____________ Is a financial statement that reports net income or net loss of the business.

Part III. ESSAY. (16-20)

Directions: Explain the important learnings that you have acquired throughout these topics in the module. Explain each
question in not less than 2 sentences. (5 points)

16-20. In your own idea, why creating a income statement is important? Is their any significant to your business
someday?

Prepared by:
VENGIE P. PAMAN
Entrep Teacher 1