FOURTH QUARTER REVIEWER

ENTREPRENEURSHIP
SY 2023-2024

Directions: Read the items carefully. Choose the letter of the correct answer.

Which of the following refers to the human workforce involved in the manufacture of products?
a. Manpower b. Machine c. Material d. Method
Which of the following is NOT part of the 4M’s of production?
a. Machine b. Method c. Manpower d. Management
Which of the following refers to the marketing copy that explains what a product is and why it is worth
purchasing?
a. Prototype b. Business Model c. Product Description d. Supplier
What do you call the final products from the production process which are distributed to the customers?
a. Materials b. Output c. Supplies d. Input
What do you call the replica of a product?
a. Prototype b. Business Model c. Product Design d. Supplies
Which of the following refers to the system of organizations, people, activities, information, and resources
involved in moving a product or service from supplier to customer?
a. Prototype b. Business Model c. Value Chain d. Supply Chain
Which of the following is the process or activities by which a company adds value to an article, including
production, marketing, and the provision of aftersales service?
a. Prototype b. Business Model c. Value Chain d. Supply Chain
What describes the rationale of how an organization creates, delivers, and captures value in economic, social,
cultural, or other contexts?
a. Prototype b. Business Model c. Product Description d. Suppliers
What is the entity that supplies goods and services to another organization?
a. Suppliers b. Business Model c. Product Description d. Prototype
Which of the following refers to the manufacturing equipment used in the production of goods or delivery of
services?
a. Materials b. Method c. Machine d. Manpower
What does the process or technique of converting raw materials to finished products refer to?
a. Materials b. Method c. Machine d. Manpower
Which of the following refers to the raw materials needed in the production of a product?
a. Materials b. Method c. Machine d. Manpower
Which part of the business plan discusses what business is all about?
a. Executive Summary b. Introduction c. Management section d. Marketing Section
Which of the following shows how you will manage your business and the people you need to help you in your
operations?
a. Executive Summary b. Introduction c. Management Section d. Marketing Section
Which part of the business plan shows the money needed for the business, how much you will take in and how
much you will pay out?
a. Management Section b. Marketing Section c. Financial Section d. Production Section
What do you call the strategy wherein you identify major competitors and research their products, sales and
marketing strategies?
a. Management Analysis b. Competitive Analysis c. Market Analysis d. Financial Analysis
What diagram graphically shows the relationship of one official to another, or others of a company?
a. Venn Diagram b. Market Size c. Organization Chart d. Production Chart
Which part of the business plan is the first to be presented but the last to be made?
a. Executive Summary b. Introduction c. Management Section d. Operation
Which of the following shows the design of your product/service, pricing, where you will sell and how you will
introduce your product/service to your market?
a. Product Description b. Marketing Section c. Operation d. Production
Which of the following shows the area, equipment and materials needed for the business?
a. Production Section b. Product Description c. Marketing Section d. Operations Department
How is Profit or Loss computed? From which of the following is cost / expenses deducted to compute profit or
loss?
a. Income/Revenue b. Sales c. Sales Discount d. Operating Expenses
Sales is an account title used to describe goods or merchandise sold by a business. What nature of business uses
Sales?
a. Servicing b. Merchandising c. Barbershop d. Both Servicing & Merchandising
Irene sells fashion bags online. She gets each bag for P 150.00 from a local supplier. She then adds P 100.00 as
mark-up for each bag. How much is the selling price of each bag?
a. P200.00 b. P250.00 c. P300.00 d. P350.00
Where can a merchandising business earn?
a. Rendering Services b. Donating Products c. Lending Money d. Buy and Sells Goods
What is a tool that allows managers to make educated estimates on revenue and costs of the business to cope
with uncertainties of the future?
a. Benchmarking b. Forecasting c. Guessing d. Estimating
Which of the following businesses use Service Income in recording revenues?
a. Hardware b. Movie House c. Sari-sari Store d. Salon
What refers to the amount of merchandise or goods sold by the business for a given period?
a. Operating Expense b. Cost of goods sold c. Deductions d. Sales
Aling Esing sold 5 pieces of rugs. She bought the rugs for 20 pesos and sold it for 35 pesos. How much is the total
cost of goods sold?
a. P80.00 b. P90.00 c. P100.00 d. P110.00
What refers to the amount paid to transfer goods or merchandise purchased from the supplier to the buyer?
a. Freight-in b. Taxes c. Fee d. Transportation
What are the costs incurred through payment of utilities such as water, electricity, internet connection is
considered as?
a. Costs b. Operating Expenses c. Purchases d. Personal Expenses of the Owner
Bella sells bottled water in a nearby city bus terminal. Every day he can sell 30 pieces of bottled water at 20 pesos
each. How much is Nathaniel’ daily sales?
a. P900.00 b. P800.00 c. P700.00 d. P600.00
What do you call the amount added to the cost of a product to determine the selling price?
a. Sale b. Mark-down c. Discount d. Mark-up
Jean sold all ten T-shirts for 1,500.00 pesos. Suppose she added 50.00 pesos as mark-up price for every T-shirt,
How much was the cost for every T-shirt sold?
a. P80.00 b. P90.00 c. P100.00 d. P110.00
What refers to goods and merchandise left at the end of operation or accounting period?
a. Merchandise Inventory, beginning b. Merchandise Inventory, end
c. Freight-in d. Freight-out