SUMMATIVE TEST

in
Entrepreneurship
Name: _______________________________________________ Year & Section: _____________________ Score: __________________

I. Multiple Choice. Circle the letter of the

correct answer.

1. Represents the day-to-day operations of a business. A. Manufacturer

A. Methods B. Agents
B. Materials C. Distributor
C. Machine D. Inventor
D. Manpower
10. It is where the manufacturing process will take
2. Handle all the aspects of the business. place.
A. Methods A. Warehousing
B. Materials B. Manufacturing
C. Machine C. Service Blue Print
D. Manpower D. Manufacturing Site

3. The raw materials and supplies. 11. ___________________is the first and foremost a
A. Methods transaction between the seller and the prospective
B. Materials buyer or buyers where the money (or something
C. Machine considered to monetary value) is exchanged for
D. Manpower goods or services.
A. Selling
4. The “best friend” of manpower in producing B. Calling
goods and offering services. C. Marketing
A. Methods D. Processing
B. Materials
C. Machine 12. It refers to the process of estimating a firm’s
D. Manpower financial requirements and determining pattern of
financing.
5. The process of translating raw materials into finished A. Selling
goods that are acceptable to the customer’s B. Bookkeeping
standards. C. Financial Plan
A. Manufacturing D. Business Plan
B. Warehousing
C. Distribution 13. Is the output of a sale wherein the sales price
D. Output exceeds the cost to produce the product or render the
service.
6. The materials or ingredients to be used in creating A. Revenue
the product. B. Cost
A. Manufacturing C. Fixed Cost
B. Input D. Income
C. Process
D. Output 14. A financial statement that details the computation
of net revenue by deducting cost of sales, expenses
7. The transformation phase where inputs are and taxes from the gross revenues generated.
processed by manpower and machines to come A. Revenue
up with the final product. B. Balance Sheet
A. Input C. Income Statement
B. Process D. Financial Plan
C. Output
D. Distribution 15. It is a core financial statement that describes the
financial position of the business.
8. The process of bringing the products or services A. Cash Flow Statement
to customers. B. Income Statement
A. Manufacturing C. Balance Sheet
B. Manufacturing Site D. Monthly Revenue
C. Distribution
D. Service Blue Print

9. ________________________negotiates with buyers as

to how much or how many are to be sold.
 II. Enumeration:
Direction: Select the correct answer at the pyramid.

Stimulus
response

Identify
sources of
your
income
Monitor
Prepare
the
your
progress of Holding income
business. tax return

Build-long Presenta- Direct

term tion Selling
relationship

Need Prepare Formula

your Income Closing
Presenta Selling
financial
tion Statement.

Prospec- Handling
ting Objections

Keep track
of your
Canned deductible
Selling
16-20. Steps in Selling.
expenses.
21-24. The Four types of presentation.

25-28. Reasons why keeping the business records is important.

III. Provide the formula:

29. Total Cost=
30.Total Revenue=
31. Daily Revenue (DR)=
32. Monthly Revenue (MR)=

IV. Solve the following problem.

33-36. Karen bought a fan for ₽300.00 and sold it for ₽350.00. How much profit did she earned?

37-40. Mark sold a box for ₽600.00 which he bought for ₽700.00. How much loss did he incur?

Bonus (2 pts)

What is the name of your business in your business plan?

Good luck and God bless!