NOTRE DAME OF MASIAG, INC.

Masiag, Bagumbayan, Sultan Kudarat

Government Recognition No. 018, s. 1993
“Service for the love of God through Mary”
Entrepreneurship Grade 11
Final
Name: Grade& Section: Score:
Test I. MULTIPLE CHOICE. Read each sentence below and choose your answer from the 4 given
choices. Encircle the letter of your choice.
1) In the entrepreneurial world, new ideas and opportunities are evolving. What is the ability to
create new things, invest in new enterprises and expand business?
a. Creativity b. Producing
 c. Manufacturing  d. Entrepreneurship
2) Alvin has transferred to a new locality. He observed that there is an opportunity for him to put
up his own business since he has enough capital and very much interested to the idea. Which of
these factors must he possess so that he will not rely on the services of the employees?
a. Markets  b. Supply of resources
c. Supply of resources  d. Manpower 
3) Management functions and principles play a very critical role in running a business.
What principle of planning specifies that the objectives of an entrepreneur should match the
needs of the society?
a. must be realistic  b. must be based on felt needs
c. must focus on dealing with a crisis d. must start with a simple project
4) Entrepreneurs use various management tools to succeed in a business. What management tool
is used to analyze business opportunities?
a. Environmental scanning  b. SWOT
c. Market survey  d. Market study 
5) When an entrepreneur communicates with people through interviews, observations
and advertisement on what is new, what entrepreneurial activity does he/she engage?
a. Statistical study  b. Environmental scanning
c. Entrepreneurial scanning  d. marketing study 
6) There are P's in preparing market research. Which P in marketing is designed to communicate
the product to customers?
a. Place  b. Promotion
c. People  d. Price 
7) The site of the business enterprise is one of the requirements of entrepreneurship. Which of
the following isthe most important in choosing the best location for the business?
a. access to supplies and raw materials
c. less competitors in the area 
b. clean, decent and peaceful environment
d. enough capital to pay space rental
8) Which term refers to people, institutions or organizations for whom the business is designed?
a. sample  b. population
c. market  d. society
9) Which one is not included in planning a business?
a. how and when to do it  b. how to increase profits
c. what to expect in the future d. what to do
10) What is the benefit of business planning wherein the entrepreneur determines whether the
business is profitable or not?
a. minimize cost production  b. detect the weakness of the business
c. eliminate business risk  d. estimate sales
TEST II: TRUE OR FALSE: Write True if the statement is correct otherwise False, on the blank
provided before each number.
________1. Bookkeeping is the recording, on a day-to-day basis, of the financial transactions
and information pertaining to a business.
________2.Cost refers to the purchase price of the product including of the product including the
total outlay required in producing it.
________3. Bookkeeping is the process of recording business transactions in a systematic and
chronological manner.
________4. Subsidiary ledger is a group of accounts directly associated from the general ledger.
________5. Statement of account, also known as an account statement or customer statement, is
a document that outlines the transactions between a buyer and a seller.
________6. Suppliers are your business partners
________7. Business plan is an important tool for you to have an idea about the future of your
business.
________8. Manpower talks about human labor force involved in the manufacture of products.
________9. Machine discusses about manufacturing equipment used in the production of goods
or delivery of services.
_______10. Method production method discusses the process or way of transforming raw
materials to finished products.
________11. Introduction- this part discusses what is the business plan all about
________12. Financial Section- shows the money needed for the business, how much you will take in and
how much you will pay out.
________13. Business plan is an important tool for you to have an idea about the future of your business.
________14. Business model describes the reasons of how an organization creates, delivers, and captures
value in economic, social, cultural or other contexts.
________15. A supply chain is a structure of organizations, people, activities, data, and resources
involved in moving a product or service from supplier to customer.
Test III. IDENTIFICATION: Identify what is being described or defined in each of the item below.
Write it on the blank provided before each number.
 ________1. It is a document that describes the various external and internal elements involved in starting
a business or in expanding an existing venture, amidst a dynamic business environment.
_________2. It is a document containing the marketing objectives, marketing strategies, and the activities
that will be under taken to execute these strategies.
_________3. It is the section of the business plan that identifies the form of ownership the business will
take.
_________4. This is the simplest form of business as it is owned solely by an individual or one person.
 _________5. It is a business organization owned jointly by two or more persons who share the assets,
liabilities and profits.
_________6. It is a statement of the assets, liabilities, and capital of a business or other organization at a
particular point in time, detailing the balance of income and expenditure over the
preceding period.
_________7. It talks about human labor force involved in the manufacture of products
_________8. It talks about raw materials necessary in the production of a product. Materials mainly form
part of the finished product.
________9. It is discuss about manufacturing equipment used in the production of goods or delivery of
services.
________10. It is production method discusses the process or way of transforming raw materials to
finished products.
________11. It is refers to the purchase price of the product including of the product including the total
outlay required in producing it.
________12. It is the most basic journal which provides columns for date, account titles and explanations,
folio or references and a separate column for debit and credit entries.
_________13. It is a group of accounts directly associated from the general ledger.
_________14. It is also known as an account statement or customer statement, is a document that outlines
the transactions between a buyer and a seller.
_________15. It is the withdrawal of the owner from the enterprises.

TEST IV: ESSAY. Briefly discuss the following questions. Used the space provided for your answer.

Standard for scoring

Content 3%
Grammar 3%
Over all total 6%

1. What is the importance of Statement of Financial Position?

2. Why Bookkeeping is important?

TEST V: ENUMERATION. Enumerate what are asked.

1. Give the three from of ownership.
1.
2.
3.

Good Luck & God Bless 

Merry Christmas & Happiest New year
Ma’am
ken