2ND Summative Test in LS4
2ND Summative Test in LS4
Directions: Read each item carefully and choose the letter of the best that completes each
statement or that answers each question. Use a separate sheet of paper for your answers.
2. The following are some of the qualities and traits of a successful entrepreneur except being
_________.
A. determined and persevering
B. easy-go-lucky and winsome
C. creative and visionary
D. disciplined and organized
Directions: Read each item carefully and choose the letter of the best that completes each
statement or that answers each question. Use a separate sheet of paper for your answers. (For
items 3-7). Identify what skill or quality of an entrepreneur is shown in each of the following
statements:
3. “Weigh the pros and cons of every decision you make. Plan things ahead and identify the
possible problems that you might encounter before coming to a decision. Everything will not
always turn out well, so make sure that you are ready for the consequences of your decisions.
A. knowing how to calculate risks
B. identifying and seizing opportunities
C. having determination and perseverance
D. being disciplined
4. “Thinking of selling something and earning a profit are not enough. You have customers that
you need to impress so that they will always come back to you. This is why you need to be
creative. You must also think of ways on how to keep your business running and how to keep
your customers coming back.”
A. knowing how to calculate risks
B. identifying and seizing opportunities
C. having determination and perseverance
D. being disciplined
5. “Bad days shouldn’t get in your as they are part of your journey. Instead, you should keep
your eye on your goal if you really want your business to succeed. No matter how difficult things
may get, you should be strong enough to reach your goal.”
A. identifying and seizing opportunities
B. being disciplined
C. being creative and visionary
D. having determination and perseverance
6. “It is the foundation of your success. You should learn that there are a few changes in your
life that you need to do so that your business can thrive. Let go of bad habits, be more organized,
set your schedule so you won’t miss due dates for your business. If you can manage yourself,
you
can definitely manage a business.”
A. identifying and seizing opportunities
B. being disciplined
C. being creative and visionary
D. having determination and perseverance
7. “Being your own boss means you will have to grow your business on your own. Thus, for it to
reach its full potential, you should know what you could use to your advantage. You must also
know how to connect to people who may help you improve your business.
A. identifying and seizing opportunities
B. being disciplined
C. being creative and visionary
D. having determination and perseverance
8. Entrepreneurs have a multitude of tasks that they have to handle on their own, especially
when their business is ____________.
A. new
B. established
C. bankrupt
D. none of the above