JOMALIG NATIONAL HIGH SCHOOL

SECOND QUARTER EXAMINATION

ENTREPRENEURSHIP 12

NAME: ___________________________________________________
SECTION: ________________________________________________
I. MULTIPLE CHOICES. Choose the correct answer on the space provided before the number.
_____1. Which of the following refers to the human workforce involved in the manufacture of products?
A. Materials B. Method C. Machine D. Manpower
_____2. The 4M’s of production are as follows except ONE. Which one is it?
A. Management B. Manpower C. Method D. Machine
_____3. Which of the following refers to the marketing copy that explains what a product is and why it is worth
purchasing?
A. Prototype B. Product description C. Business Model D. Suppliers
_____4. It represents the final products from the production process and distributed to the customers.
A. Input B. Supplies C. Output D. Materials
_____5. It is a replica of a product.
A. Prototype B. Product description C. Business Model D. Suppliers
_____6. Profit or Loss is computed by subtracting cost / expenses from –
A. income/revenue B. sales discount C. sales D. operating expenses
_____7. Sales is an account title used to describe goods or merchandise sold by a business. What nature of business
uses Sales?
A. Servicing B. Barber Shop C. Merchandising D. Both Servicing and Merchandising
_____8. Maxine sells fashion bags online. She gets each bag for P 150.00 from a local supplier. She then adds P
150.00 as mark-up for each bag. How much is the selling price of each bag?
A. P 200.00 B. P 250.00 C. P 300.00 D. P 350.00
_____9. A merchandising business earns through –
A. rendering services B. lending money C. donating products D. buys and sells goods
_____10. Which of the following businesses use Service Income in recording revenues?
A. Beauty Salon B. Sari-sari store C. Movie House D. Hardware
_____11. It refers to the amount of merchandise or goods sold by the business for a given period of time.
A. Operating Expense B. Cost of Goods Sold C. Deductions D. Sales
_____12. Aling Coring sold 5 pieces of rugs. She bought the rugs for 20 pesos and sold it for 35 pesos. How much is
the total cost of goods sold?
A. P 80.00 B. P 90.00 C. P 100.00 D. P 110.00
_____13. Freight-in refers to the amount paid to transfer goods or merchandise purchased from the ___. A. buyer to
the supplier C. buyer to buyer
B. supplier to the buyer D. supplier to supplier
_____14. The costs incurred through payment of utilities such as water, electricity, internet connection is considered
as –
A. costs B. purchases C. operating expenses D. personal expense of the owner
_____15. It refers to the process or technique of converting raw materials to finished products.
A. Machine B. Manpower C. Method D. Materials
_____16. Which office will you go to register your single-owned business?
A. SEC B. DTI C. BIR D. Mayor’s Office
_____17. Which office do you visit to register a partnership or corporation?
A. SEC B. DTI C. BIR D. Mayor’s Office
_____18. To secure a Tax Identification Number (TIN), which office will you go?
A. SEC B. DTI C. BIR D. Mayor’s Office
_____19. SSS, Philhealth and Pag-ibig fund contributions are made by _ .
A. employees only B. employers only C. both Employees and Employers D. none of the choices
_____20. Which of the following is not a step to follow before operating a business?
A. Register your business C. Advertise the business using Facebook
B. Set up an accounting system D. Selling the product
_____21. Mang Berting is a fruit vendor selling at the local public market. He gets his mangoes from a supplier at 25
pesos per kilo and sells it at 45 pesos per kilo to
his customers. How much mark-up is Mang Berting adding to his selling price?
A. 25.00 B. 30.00 C. 15.00 D. 20.00
_____22. Aling Elvie sells t-shirt at 175.00 pesos each. If each t-shirt costs 135.00 pesos, how much is the mark-up?
A. 30.00 B. 45.00 C. 40.00 D. 50.00
_____23. Aling Marta sells bibingka in her neighbourhood, every day she can sell 45 pieces of bibingka at 20 pesos
each. How much is her daily revenue?
A. 900.00 B. 450.00 C. 800.00 D. 1000.00
_____ 24. This refers to goods and merchandise at the beginning of operation of business or accounting period.
A. Merchandise Inventory, end C. Expenses
B. Merchandise Inventory, beginning D. Freight-in
_____25. Which of the following is the process or activities by which a company adds
value to an article, including production, marketing, and the provision of after-sales service?
A. Supply Chain B. Value Chain C. Business Model D. Prototype
_____26. It describes the rationale of how an organization creates, delivers, and captures value in economic, social,
cultural or other contexts.
A. Prototype B. Product description C. Business Model D. Suppliers
_____27. It is an entity that supplies goods and services to another organization.
A. Prototype B. Product Description C. Business Model D. Suppliers
_____28.Which of the following refers to the manufacturing equipment used in the production of goods or delivery of
services?
A. Machine B. Manpower C. Method D. Materials
_____29. .It refers to the process or technique of converting raw materials to finished products.
A. Machine B. Manpower C. Method D. Materials
_____30. It simply refers to the raw materials needed in the production of a product.
A. Machine B. Manpower C. Method D. Materials
II. COMPLETING THE TABLE:
Give the formula, computation and the value on the first column using:
GIVEN:
NET SALES = 600,000
COST OF SALES = 205,000
OPERATING EXPENSES = 30, 800
TABLE 1

Find for: FORMULA COMPUTATION VALUE

GROSS PROFIT 31. 32. 33.

GROSS PROFIT RATE 34. 35. 36.

OPERATING PROFIT
37. 38. 39.
MARGIN RATE

NET PROFIT MARGIN RATE 40. 41. 42.

TABLE 2
Tatay Canor is operating a merchandise business, he sells kalan-de-uling in his stall at a local market. He gets his kalan-
de-uling from a supplier for 200 pesos each. He then adds 50 percent mark-up on each kalan-de-uling. Every day, Tatay Canor can
sell 10 pcs of his product.

Cost Mark-up Selling Average No. Projected Average No. of Projected

per 50% (B) Price (C) of Items Sold Revenue (E) Items Sold Revenue (G)
Unit (Daily) (Daily) (Monthly) (Monthly)
Products (A)
(A) (B)= (A (C)= (D) (E) = F= G= (C x F)
x .50) (A+B) (C x D) (D x 30 days)

43. 44. 45. 46. 47. 48. 49 50.