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Entrepreneur Exam

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53 views4 pages

Entrepreneur Exam

Uploaded by

Dhen Ules
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MIDTERM EXAMINATION

NAME: _____________________________________________________ SCORE _________________

SCHOOL _____________________________________________________ PROGRAM ______________

TEST I FILL IN THE BLANK

__________________ 1. Is one who bears uncertainty, buys labor and materials, and sells products at

Uncertain prices. He is one who takes risks and makes innovation on the

Factors of production.

__________________ 2. Is the capacity of an individual to forecast new business prospects in the form

of goods and services needed by others and to deliver them at right time, to

the right people, at the right place and at the right price.

__________________ 3. The number of prospective buyers, the presence of competitors, and the

Prices and quality of goods and services have to be analyzed.

__________________ 4. Interest should match business opportunities.

__________________ 5. The availability of funds should fit the type of business to be organized.

__________________ 6. The entrepreneur should have the proper skills in the business he is going

To undertake.

__________________ 7. It is not enough that there are sufficient buyers of goods and services. It is

equally important that there are steady suppliers of raw materials and other

inputs of the business.

__________________ 8. The success of any business enterprise primarily depends on the efficiency of

Its employees.

__________________ 9. Entrepreneurs should be aware of the presence of technology because this is

An opportunity for them to improve their products or introduce new ones in

the market.

__________________ 10. Opening for business with a bang.

__________________ 11. Making your product or choosing your service.

__________________ 12. Raising money for your business.


__________________ 13. Assessing your entrepreneurial inclination.

__________________ 14. Spotting a great business idea and pursuing it.

__________________ 15. Getting to know your target market.

__________________ 16. Creating a success blue print for your business.

__________________ 17. Registering and choosing the best structure for your enterprise.

__________________ 18. Is an organized effort of individuals to produce and sell goods and services

In order to satisfy the needs of society.

__________________ 19. Is owned and operated by one individual. The owner is called the proprietor.

__________________ 20. Is composed of more than five owners who call themselves stockholder.

TEST II ENCIRCLE THE CORRECT ANSWER

1. Work Ethics are:

a. based on moral virtues of hard work

b. based on working hard only when the manager is looking

c. based on looking for shortcuts

d. based on trying to get to work on time

2. Location, facilities, equipment, labor and manufacturing plans are part of;

a. Financial Plan b. Marketing Plan c. Implementation Plan d. Production/Opera-

tion Plan

3. A captures the reader’s attention, should explain the business status, provide objectives, and
describe products or services.

a. executive summary b. transmittal letter c. table of content d. fact sheet

4. What type of entrepreneurial business actually produces the products they sell?

a. Manufacturing b. Wholesaling c. Retailing d. Service

5. In the business plan essentials which part encapsulates entire business plan?

a. The mission statement b. The executive summary c. The management team

b. The marketing plan

6. Which of the following implies that the entrepreneur has a “word of honor”.

a. When he pays suppliers on due date, b. Give employees salaries and benefits agreed on,
c. Deliver on the day his customer ask him to do, d. All the options above are correct.

7. For the business to have a legal personality, a business man has to:

a. Organize it b. Register it in proper institution/agency c. Hire lawyers for the business

b. Hire an accountant for the business

8. To be able to teer your own business, what should you consider?

a. Marketing plan b. Financial plan c. Production plan d. Out- sourcing plan

9. You want to start your own business, what should you consider?

a. Assess you entrepreneurial inclinations b. Get to know your target market

c. Make a business plan d. All of the above should be considered

10. A concept among business-minded individuals who want to start small, but dream of becoming

Huge financial success in the future is known as:

a. Entrepreneurship b. Enterprise c. Small business d. But and sell

TEST III ENUMERATE THE FOLLOWING:

1-6 What are six components of a Business Plan?

7- 12 What are six parts of preparing a Business Plan/Project Feasibility Study?

13- 16 What are four structures of business organization?

17 – 22 What are six Ethical Principles of business?

23 – 27 What are seven situational analysis frameworks?

28 – 30 Give at least three production process of business.

TEST IV EXPOUND BRIEFLY THE FOLLOWING

1. What is the different between Sole Proprietorship and Partnership? ( 5 points )

2. Compare and contrast the Corporation and Cooperative. ( 5 points )

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