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SUMMATIVE TEST IN ENTREPRENEURSHIP
Quiz by Jerome Macapagal
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Which of the following refers to the people involved in the production of goods or delivery of services?
Which of the following is NOT part of the raw materials in producing a colored t-shirt?.
Which of the following is the very reason for documenting the methods involved in the production of goods?
Project method is a type of production in which only one unit is manufactured at a time. Which of the following DOES NOT employ this method?
Laptop, printing press and brewer are examples of ________________.
Which of the following refers to the semi-processed materials that need further transformation to produce a finished product?
Which of the following refers to any sample which is used to test the desired features of a finished product?
Regine plans to make a candle using the oil extracted from neem plant. She wants to test if the product can prevent plant pests like aphids and spider mites. Which kind of prototype is the most appropriate to do?
A. low-fidelity
B. high-fidelity
Andrei wants to sell a reversible bag using synthetic plant-based material derived from pineapple leaves. He wants to test the durability of all the parts of the final product and its marketability. Which kind of prototype is the most appropriate to do?
A. low-fidelity
B. high-fidelity
Marie was assigned to make the new layout of the e-learning platform of the Division of Marikina. She used Canva to accomplish the task within the given time. Which kind of prototype did she make?
Julius wants to sell halo-halo on sticks. He wants to test if the target market would approve the size, appearance, taste and packaging of his product. Which kind of prototype is the most appropriate to do?
Which of the following refers to the repetitive process of doing the product until the output satisfies the target consumers?
Kendra made several cakes to determine the right amount of natural sweetener she can put in her recipe. Which of the following iterative processes did she perform?
Kendra gave her cake prototypes to children who are 8 - 12 years of age because she plans on determining which cake recipe is preferred by her target market. Which of the following iterative processes did she perform?
Kendra asked each child about their preferred cake prototype. She further asked them how the prototypes can still be improved. Which of the following iterative processes did she perform?
Kendra found out that most of the children she asked preferred the cakes with 75% natural sweetener and that they would like to have multicolored dough. Which of the following iterative processes did she perform?
Which of the following terms refer to the process of assigning marketable value to your product?
Which of the following pricing strategies is applied when an introductory product is sold at a low price?
Which of the following best describes variable cost?
A. It is affected by the number of products sold.
B. It changes based on the raw materials acquired.
Which of the following is an example of a fixed cost?
By selling a cellphone at Php 9900, Ben obtains a 10% profit. How much is his total profit if he sold 20 units of the same model of cellphone?
Merryll is selling t-shirts with a 30% mark-up. If the original price of a t-shirt is Php 100.00, how much is her revenue for selling 10 t-shirts?
Merryll is selling t-shirts with a 30% mark-up. If the original price of a t-shirt is Php 100.00, how much is her profit for selling 10 t-shirts?
A recipe of bread requires 300 g of wheat flour. If 1 kg of wheat flour is worth Php 96.00 and the recipe is able to produce 4 pieces of bread, how much is the cost of wheat flour in each bread?
Given:
Net Sales Php 250,000
Cost of Sales Php 130,000
Operating Expenses Php 30,000
What is the gross profit?
Given:
Net Sales Php 250,000
Cost of Sales Php 130,000
Operating Expenses Php 30,000
What is the gross profit rate/margin?
Given:
Net Sales Php 250,000
Cost of Sales Php 130,000
Operating Expenses Php 30,000
What is the operating profit?
Given:
Net Sales Php 250,000
Cost of Sales Php 130,000
Operating Expenses Php 30,000
What is the operating profit margin?
Which of the following refers to the value a company promises to deliver to customers should they choose to buy their product?
Which of the following refers to the avenues through which your customer comes into contact with your business and becomes part of your sales cycle?
Consulting, designing, web development and hiring are some examples of __________.
Mike is planning to put-up a shoe store in Riverbanks. He knows at least three suppliers of quality shoes from the city. These suppliers are considered to be ____________.
Cost Structure refers to the cost of operating the business. Which of the following questions does it answer?
A. How much does it cost to achieve my business's key activities?
B. What are the costs of my key resources and key partnerships?
C. How much does it cost to achieve the value proposition for my customers/users?
Which of the following refers to a high-level plan for profitably operating a business in a specific marketplace?
Which of the following is NOT an asset?
Which of the following is a liability?
The general journal is also known as the ________________.
Rowena wants to check the summary of all the financial transactions that happened during the month of February under the account labeled as ‘Office Supplies’. Which of the following should she access?
A. General Journal
B. General Ledger
On the 15th, the company will release the employees’ salaries and wages amounting to Php 100,000. Which of the following is true about this financial transaction?
A. The “source” of Php 100,000 is the company’s cash account. This will be credited.
B. The “destination” of Php 100,000 is the salaries and wages account. This will be debited.
If Mr. Macapagal invested Php 300,000 in A+ Tutorial Center, which of the following is the correct journal entry?
