- 1. determine which part of the
total potential market will be served by the firm.
A) Definition of the Market
B) Determination of the market share
C) Pricing strategy.
D) Positioning Strategy.
- 2. How the company’s products or services will be promoted is an important component of
the marketing strategy.
A) Pricing strategy.
B) Positioning Strategy
C) Distribution strategy.
D) Promotion strategy
- 3. How the firm prices its product or service is a very important
component of the business plan. If the firm wants to achieve its objectives, the right price for its
product or service must be maintained.
A) Pricing strategy.
B) Determination of the market share
C) Positioning Strategy.
D) Distribution strategy
- 4. are distributors who buy directly from distributors or wholesalers and sell to
retailers or end users.
A) brokers
B) retailers
C) Wholesalers
D) direct mails
- 5. are channel members that sell to retailers or other agents for further
distribution through the channel until they reach the final users.
A) direct mails
B) retailers
C) brokers
D) Wholesalers
- 6. How many part there are in Business Plan?
A) 7
B) 8
C) 6
D) 9
- 7. What is the 5th part of Business Plan
A) Description of the product/service
B) Analysis of Competition
C) Market Strategies
D) Operation and management
- 8. What is the last part of business plan
A) Market Strategies
B) Financial data
C) Executive Summary
D) Supporting documents
- 9. Where part of business plan can SWOT ANALYSIS be find
A) Description of the business
B) Operation and Management
C) Market Strategies
D) Analysis of Competition
- 10. It is the internal environment of SWOT analysis
A) Weakness and Threats
B) Strength and Opportunity
C) Strength and Weakness
D) Threats and Opportunity
- 11. It is the external environment of SWOT analysis
A) Weakness and Threats
B) Strength and Weakness
C) Opportunity and Threats
D) Strength and Opportunity
- 12. refers to a skill, a competence, a valuable
organizational resource or competitive capability, or an
achievement that gives the firm a market advantage.
A) Weakness
B) Strength
C) Opportunity
D) Threats
- 13. refers to something a company lacks or does
poorly (compared with others) or a condition that puts is at a
disadvantage.
A) Threats
B) Weakness
C) Strength
D) Opportunity
- 14. refers to a challenge posed by an unfavorable
trend or development in the external environment that would
lead to, in the absence of purposeful entrepreneurial action,
A) Opportunity
B) Strength
C) Threats
D) Weakness
- 15. refers to the chance offered by the
external environment to improve the firm’s
situation significantly.
A) Threats
B) Strength
C) Weakness
D) Opportunity
- 16. is a legal association of two or more
person as co-owners of an unincorporated business.
A) Partnership
B) general partnership
C) Sole proprietorship
D) limited partnership
- 17. is an arrangement in which the
liability of one or more partners is limited to the
amount of assets they invested in the business.
A) Sole proprietorship
B) Limited partnership
C) General partnership
D) Partnership
- 18. is a legally chartered enterprise with
most of the legal rights of a person, including the right
to conduct a business, to own and sell property, to
borrow money, and to sue and be sued.
A) General partnership
B) Partnership
C) Corporation
D) Sole proprietorship
- 19. is an association of two or
more persons, each with unlimited liability, and who
are actively involved in the business.
A) General partnership
B) Limited partnership
C) Corporation
D) Sole proprietorship
- 20. is a business owned and
operated by a single person.
A) Limited partnership
B) Corporation
C) Sole proprietorship
D) Partnership
- 21. What is the 2nd part of business plan
A) Description of the business
B) Title page and Table of Content
C) Executive Summary
D) Market Strategies
- 22. offers similar product.
A) Indirect competitor
B) Competitor
C) Direct competitors
D) Company
- 23. will take away sales from a company in an indirect manner.
A) Competitor
B) Direct competitors
C) Company
D) Indirect competitor
- 24. RC Cola is an indirect competitors of Great Taste Coffee.
A) False
B) True
C) Maybe
- 25. firms consists of products purchased for resale,
A) Cost of Goods Sold
B) The cost of goods of trading
C) The cost of goods of manufacturing
- 26. In both types of business, all merchandise sold are indicated as
A) Inventory
B) Income
C) cost of goods,
D) Profit
- 27. those that are not sold are
categorized as
A) cost of goods
B) inventory
C) Profit
D) Income
- 28. The income statement shows the income expenses and profits of a firm over a period of time. It is also
alternatively called
A) Statement of data
B) Statement of expenses
C) statement of earnings
D) Statement of income
- 29. a type of financial statement that shows the financial condition of the business as of a given date.
A) balance sheet
B) Cash Flow Statement
C) Income statement
D) The owner’s equity
- 30. refers to the difference between total income and total expenses.
A) Marketing expenses
B) Total expenses
C) Cash flow
D) Cumulative cash flow
- 31. refers to the difference between current cash flow and cash flow from the previous
period.
A) Overhead
B) Cash flow
C) Cumulative cash flow
D) Total expenses
- 32. What is the 7th part of business plan
A) Analysis of Competition
B) Market Strategies
C) Financial data
D) Operation and Management
- 33. This section refers to how much the owner has in the business. It provides a useful means in
evaluating the company.
A) The owner’s equity
B) The Assets
C) The liabilities
- 34. A proper balance between the cash inflows and outflows will result to
A) Expenses
B) Profit
C) Cash
D) Income
- 35. What is the 6th part of business plan
A) Market Strategies
B) Financial data
C) Analysis of Competition
D) Description of the Product/Service
- 36. How the firm prices its product or service is a very important
component of the business plan. If the firm wants to achieve its objectives, the right price for its
product or service must be maintained.
A) Promotion strategy
B) Pricing strategy
C) Positioning Strategy
D) Distribution strategy
- 37. “A well-written business plan is
one that contains all information
necessary for the financing source
to make a decision even without
taking the entrepreneur.”
A) The business plan
B) A TOOL FOR SECURING FUNDS
C) CONCEPT OF BUSINESS PLAN
D) THE PLAN AS A GUIDE
- 38. The business plan will serve as a means of providing some
assurance that the investor will place his funds in a worthwhile
investment.
A) The business plan
B) A TOOL FOR SECURING FUNDS
C) CONCEPT OF BUSINESS PLAN
D) THE PLAN AS A GUIDE
- 39. is a sort of a business
blueprint and it keeps the entrepreneur
on the right track.
A) CONCEPT OF BUSINESS PLAN
B) THE PLAN AS A GUIDE
C) The business plan
D) A TOOL FOR SECURING FUNDS
- 40. In the course of writing the business plan,
the small business operator (SBO) is afforded
sufficient time to consider all factors relevant
to operating the business.
A) The business plan
B) CONCEPT OF BUSINESS PLAN
C) THE PLAN AS A GUIDE
D) A TOOL FOR SECURING FUNDS
- 41. is a document
that helps the small business owner
determine what resources are
needed to achieve the objectives of
the firm, and provides a standard
against which to evaluate results.
A) THE PLAN AS A GUIDE
B) Balance Sheet
C) A TOOL FOR SECURING FUNDS
D) Business Plan
- 42. This particular portion of the business plan is very
useful to the SBO, as well as prospective investors and
lenders.
A) MARKET STRATEGIES
B) DESCRIPTION OF THE PRODUCT OR SERVICE
C) EXECUTIVE SUMMARY
D) DESCRIPTION OF THE BUSINESS
- 43. is a portion of the business plan that
summarizes the plan and states the objectives of the business.
A) DESCRIPTION OF THE BUSINESS
B) MARKET STRATEGIES
C) ANALYSIS OF THE COMPETITION
D) EXECUTIVE SUMMARY
- 44. The product or service must be described clearly in the
plan
A) OPERATION AND MANAGEMENT
B) DESCRIPTION OF THE BUSINESS
C) MARKET STRATEGIES
D) DESCRIPTION OF THE PRODUCT OR SERVICE
- 45. is the
ability to apply reasoning
and logic to new or
unfamiliar ideas, opinions,
and situations.
A) Critical thinking
B) Open-minded
C) Rationality
D) Knowledge
- 46. a person
usually involves a thinker trying to put himself or
herself in the place of someone else.
A) Rationality
B) Open-minded
C) Empathizing
D) Critical thinking
- 47. is a large part of critical thinking.thinking means not assuming that
your views or perspectives are always right
A) Open-minded
B) Rationality
C) Empathizing
D) Skills
- 48. requires analyzing all known information
and making judgments or analyses based on fact or
evidence rather than opinion or emotion.
A) Open-minded
B) Critical thinking
C) Rationality
D) Empathizing
- 49. in critical thinking bring precision
to the way you think and work
A) initial knowledge
B) Rationality
C) cooperation
D) Skills
- 50. Learning to think critically also helps people deal with the much larger
issues of living their life.
A) At the Level of Practical Decision Making.
B) At the Level of Concepts.
C) At the Level of Meaningfulness.
- 51. It has traditionally been defined as
“the established set of attitudes held
by someone.”
A) Skills
B) Mindset
C) Critical thinking
D) Open-minded
- 52. This is thinking about the means to use to accomplish our goals. It is
problem solving of the most authentic kind. This is an important level of critical
thinking, one that addresses all those ordinary decisions we make.
A) At the Level of Concepts.
B) At the Level of Meaningfulness.
C) At the Level of Practical Decision Making.
- 53. people believe that their abilities can be developed through
dedication, effort, and hard work.
A) Mindset
B) Fixed mindset
C) Entrepreneurial mindset
D) Growth mindset
- 54. people perceive their talents and abilities as set
traits. They believe that brains and talent alone are
enough for success and go through life with the
goal of looking smart at all time.
A) Entrepreneurial mindset
B) Fixed mindset
C) Mindset
D) Growth mindset
- 55. ability to quickly sense, take
action, and get organized under uncertain conditions. This also
includes the ability to persevere, accept, and learn from failure, and
get comfortable with a certain level of discomfort.
A) Mindset
B) growth mindset
C) Entrepreneurial mindset
D) Fixed mindset
- 56. sometimes unconscious pattern of behavior that
is carried out often and regularly.
A) Growth mindset
B) Passion and Entrepreneurship
C) entrepreneurial mindset
D) Entrepreneurship as a Habit
- 57. a process
by which our brain decides whether or not a certain behavior
should be stored and repeated
A) Habit pool
B) habit loop
C) Habit lap
- 58. Refers to the activities of persons or establishments
which sell to retailers and other merchants, and or to
industrial, institutional, and commercial users, but who
do not sell in large amounts to final consumers.
A) WHOLESALING
B) MANUFACTURING
C) GENERAL CONSTRUCTION FIRMS
D) RETAILING
- 59. covers all activities involved in the
scale of goods and or services to the final
consumers.
A) GENERAL CONSTRUCTION FIRMS
B) RETAILING
C) WHOLESALING
D) GENERAL CONSTRUCTION FIRMS
- 60. one involved in
the conversion of raw materials into
products needed by society.
A) MANUFACTURING
B) RETAILING
C) GENERAL CONSTRUCTION FIRMS
D) WHOLESALING
- 61. those engaged in
the construction of buildings whether for private
individuals or firms, or the government.
A) MANUFACTURING
B) RETAILING
C) GENERAL CONSTRUCTION FIRMS
D) WHOLESALING
- 62. Small business may be defined as one which is independently owned and
operated and which is not dominant in its field of operation.
A) Income
B) Market Share
C) Profit
D) Total Assets
- 63. Small business may be defined under the total assets approach as one
having______ that fall within a certain bracket.
A) Profit
B) Market Share
C) Total Assets
D) Income
- 64. the economic
activity of a person who starts,
manages, and assumes the risk of
business enterprise.
A) Entrepreneur
B) Economic Development
C) Entrepreneurship
- 65. the person who
undertakes entrepreneurial activities
A) Entrepreneurship
B) Entrepreneur
C) Economic Development
- 66. The stage follows after establishing feasibility. The
activities will be on a small scale (selling to limited markets with
limited resources)
A) early growth stage
B) Start-up stage
C) late growth stage
D) prestart-up stage
- 67. happens when the entrepreneur starts to
question the feasibility of an idea, product, or service.
A) prestart-up stage
B) early growth stage
C) Start-up stage
D) late growth stage
- 68. the final stage before the new venture
matures into a stable enterprise.
A) prestart-up stage
B) Start-up stage
C) late growth stage
D) early growth stage
- 69. What is the economic reward of labor
A) Rent
B) Interest
C) Wages/Salary
D) Profit
- 70. What is the factor of production of Interest
A) Entrepreneur
B) Labor
C) Land
D) Capital
- 71. What is the economic reward of land
A) Profit
B) Rent
C) Interest
D) Wages/Salary
- 72. Entrepreneur or Entrepreneurship
originated in _____sometime in the
Middle Ages.
A) Asia
B) America
C) Africa
D) Europe
- 73. Entrepreneur originated from the
French word “Entreprendre” which
means
A) To take
B) to undertake
C) To Achieve
D) To overtake
- 75. ___means nerve center
A) Entre
B) Neur
C) Pre
- 76. in his book entitled,
Entrepreneurs are Made Not Born, defined
entrepreneur by dissecting the word
entrepreneur into three parts
A) Joseph Schumpeter
B) Lloyd Shefsky
C) Karl Vesper
D) Professor Robert Nelson
- 77. in his essay
entitled Change and Entrepreneur
he described entrepreneurship as
doing things that are not generally
done in the ordinary course of
business routines.
A) Lloyd Shefsky
B) Professor Robert Nelson
C) Karl Vesper
D) Joseph Schumpeter
- 78. ___and his co-authors of the book
entitled New Ventures Creation,- has described
entrepreneurship as “the ability to create and
build a vision from practically nothing.
A) Joseph Schumpeter
B) Professor Robert Nelson
C) Lloyd Shefsky
D) Jeffrey Timmons
- 79. defines entrepreneur as “ a person who
is able to look at the environment, identify
opportunities to improve the environment,
marshal resources, and implement action to
maximize those opportunities.”
A) Jeffrey Timmons
B) Professor Robert Nelson
C) Lloyd Shefsky
D) Joseph Schumpeter
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