I.

MULTIPLE CHOICE:
Choose the letter of the
correct answer.
1. He does things that meet or exceed existing
standards of excellence or things that improve
past performance. He strives to do things faster.
a. demand for quality and efficiency
b. Information seeking
c. persuasion and networking
d. risk taking
a. demand for quality
and efficiency
2. He accepts full responsibility for problems in
completing a job for customer. He helps his co-
workers to get the job done and expresses concern
for satisfying the customers.
a. commitment to the work contract
b. persuasion and networking
c. systematic planning and monitoring
d. demand for quality and efficiency
A. commitment
to the work contract
3. The success of a businessman greatly depends in a
certain set of characteristics called ____.

a. commitment c. SWOT
b. PECs d. 4 M’s
b. PECs
4. The people in the market place who are
selling items or offering services for a fee
are called ____.

a. entrepreneurs c. managers
b. employees d. workers
A. entrepreneurs
5. When is the best time to practice
entrepreneurship?

a. tomorrow c. today
b. now d. yesterday
b. now
6. Entrepreneurs gather together the
resources necessary to
a. see the business potential
b. meet the continuing needs
c. improve the backward part of the
country
d. employ two or more people
b. meet the continuing
needs
7. Using resources effectively and transforming
them into profitable business venture.

a. business c. wholesaling/retailing
b. resources d. entrepreneurship
b. resources
8. Which of the following is an example of
threats?
a. poor management
b. too many competitors
c. Cheap raw materials
d. product expensive
b. too many competitors
9. These are probable problems that a
business or an entrepreneur faces.
a. weaknesses
b. Strengths
c. opportunities
d. threats
d. threats
10. What managerial task does evaluation
belongs?

a. planning c. controlling
b. directing d. organizing
c. controlling
11. It is a managerial tool used to assess the
environment and to gather important
information that can be used to strategic
planning.
a. scanning c. Survey analysis
b. SWOT analysis d. WOTS analysis
b. SWOT analysis
12. Which is NOT an example of strengths?

a. small working capital c. good location

b. cheap raw materials d. rising costs
d. rising costs
13. The process of acquiring and using
human, fiscal and material resources
effectively.
a. planning c. management
b. controlling d. organizing
c. management
14. Refers to the interest, knowledge and
enterprises needed in operating the
business.
a. needs of the community
b. Skills and interests
c. available resources
d. manpower
b. Skills and interests
15. This means employing qualified persons
to assist in the business operation.

a. directing c. planning
b. evaluating d. staffing
d. staffing
16. Suitable for business which sells only
one line of goods.
a. partnership c. corporation
b. sole proprietorship d. cooperative
b. sole proprietorship
17. Corporation is formed when five or
more people decide to go into business and
they are known as
a. partners c. subscribers
b. incorporators d. proprietor
b. incorporators
18. A cooperative maybe owned by how
many individuals?
a. 25 b. 12 c. 10 d. 8
a. 25
II. TRUE or FALSE: Write TRUE if the
statement is correct and FALSE if the
statement is incorrect.
19. A good business plan will save
you time, money and effort.
TRUE
20. Businessmen can always measure the
profitability of a certain business through
gut feel.
FALSE
21. A feasible business is necessarily
a profitable one.
TRUE
22. The first step in writing the
organizational plan is to choose the form
of organization.
TRUE
23. The production plan is also known
as the technical plan.
FALSE
24. Cost plus mark-up equals
the return on investment.
TRUE
25. Outputs are all that go into the
making of the product or the offering of
the service.
FALSE
26. Capital is not important in starting
a business.
FALSE
27. Resources are supply or support
which are classified as human or
material.
TRUE
28. An entrepreneur must know the
current trends before putting up a
business.
TRUE
III. IDENTIFY THE
FOLLOWING
 Information technology Computer Menu Bar
Task Bar Scroll bars Hardware
Close Button input devices Storage Devices
Title bar Speakers Printer
Central Processing Unit CD – ROM Market study
production study Organizational study Business plan
Financial study Software Windows desktop
Brief description of the product
29. Describe briefly what you want to
produce and how you wish to
undertake business from production to
marketing.
Brief Description of
the product
30. Clearly defines what to sell, how
much to sell and where to sell.
Market Study
31. Provide details on how to produce
the product or provide the service that
one is selling.
Production Study
32. Part that will show how much
capital is guided for the business.
Financial Study
33. Clearly explains how you will
organize and manage the business.
Organizational
Study
34. Clearly defines the business you
wish to engage in, how you envision to
undertake the business, how much
income you wish to gain and how long
you expect to realize such gains.
Business Plan
35. Refers to the computer
programs that run in your
computer
Software
36. An electronic device that can
store, retrieve and process data.
Computer
37. Refers to the physical
components that make up a
computer system.
Hardware
38. Collective name given to
machines that release
information.
Information
Technology
39. Devices that help us put data
into the computer.
Input Devices
40. The parts of computer which
are used for storing data.
Storage Devices
41. The output devices that
produce different types of sounds
processed by the computer.
Speakers
42. The brain of the computer.
Central
Processing Unit
43. An acronym for compact
disc read-only memory.
CD-ROM
44. A device that makes a
printed copy of your work on a
sheet of paper.
Printer
45. The horizontal across the
top of the screen that lists the
menus.
Menu Bar
46. Displays the names of the
program use and the name of
the document working on.
Title Bar
47. It closes a window.
Close Button
48. Displays buttons for open
programs or documents.
Task Bar
49. Allow the user to move up
and down the document in the
window.
Scroll Bar
50. It will appear as a background
on your screen or a visual surface
on which you work on and contains
several objects.
Windows Desktop