1. Which is owed by the business that requires prompt
payment?
A. Non-current liability
B. Non-current asset
C. fixed asset
D. fixed liability
ANS: D
2. Which refers to a business obligation that requires
15 months of payment?
A. Current liability
B. long-term liability
C. current asset
D. current liability
ANS: B
3. Which of these terms best applies o current asset?
A. Account receivable
B. Account payable
C. Notes receivable
D. Notes payable
ANS: A
4. What is an example of non-current assets?
A. Prepaid expenses
B. Cash in the bank
C. Accounts receivable
D. Properties and equipment
ANS: D
5. What are resources owned for the operation of the
business?
A. assets
B. liability
C. capital
D. expenses
ANS: A
6. Some resources of the firm acquired their asset
through obligation. What does this refer to?
A. Expenses
B. Assets
C. Liability
D. capital
ANS: C
7. After a month, Mr. Patac was able to get all coins he
earned form his coffee vending machine worth P 11, 755.00 and paid his water
bill P 750.00 and electricity P 1,300.00.
A. P 9,705.00
B. P 10, 455.00
C. P 11, 755.00
D. P. 11, 005.00
ANS: C
8. How much is the net sales of Mr. Patac after a month
of his business?
A. P. 11, 005.00
B. P 10, 455.00
C. P 9,705.00
D. P 11, 755.00
ANS: C
9. Mr. Patac bought motorcycle worth P 72,000.00 to
monitor his expanding coffee vending machine business. After five (5) years,
the said motorcycle will become P 15,000.00 value. How much is he going to set
aside per month for depreciation?
A. P 57,000.00
B. P 11,400.00
C. P 950.00
D. P 850.00
ANS: C
10. Giving 10% depreciation for the 5 additional units of
coffee Vending machine that is worth P 35,000.00 each. How much is the
depreciation cost of each machine?
A. P 17,000.00
B. P 3,500.00
C. P 4,250.00
D. P 1,750.00
ANS: B
11. What is the term that describes the total of cash,
plus purchase, plus the customers obligation to the business?
A. Assets
B. Inventory
C. Profit
D. liability
ANS: A
12. Which term refers to gross increase in owner’s equity
arising from increase in assets received in exchange for the delivery of goods
or services to customers?
A. Assets
B. liability
C. income
D. expenses
ANS: C
13. Which term refers to decreases in owner’s equity that
increases because goods or service are delivered to customers?
A. Profit
B. Expenses
C. Earnings
D. Revenue
ANS: B
14. Which is considered to be the best way to assess
entrepreneurial project or business ventures?
A. environmental analysis
B. SWOT analysis
C. competition analysis
D. PEST analysis
ANS: B
15. An analysis that provides the details for
opportunities and threats of a business to make batter decision regarding
marketing plan is termed ______ .
A. environmental analysis
B. SWOT analysis
C. competition analysis
D. PEST analysis
ANS: D
16. The acronym SWOT stands for _____ .
A. Strengths-Weaknesses-Option-Threats
B. Strengths-Weaknesses-Opportunity- Testing
C. Strengths-Weaknesses- Operations-Tactics
D. Strengths-Weakness-Opportunities-Threats
ANS: D
17. Which question is asked at the first stage in the
marketing planning process of an enterprise?
A. Where are we now?
B. Where are we heading?
C. Are we on course?
D. Where would we like to be?
ANS: A
18. Which of these stages is the final stage in the
marketing planning process flow chart?
A. Control
B. Marketing planning
C. Setting marketing objectives
D. Setting the product price
ANS:A
19. An entrepreneur might select a target market probably
because the target market _____ .
A. is attractive to the business and matches its supply
capabilities
B. is large and well-served with existing products
C. is fully understood by the entrepreneur
D. has a proven track record for buying product
ANS: A
20. A carefully thought structured formal commercial
report that is extraordinarily well documented and clearly written to safe any
wastage of further investments project is called ______ .
A. portfolio
B. business plan
C. resume
D. feasibility
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