M.B. ASISTIO SR.

HIGH SCHOOL – UNIT 1

FINAL EXAM IN APPLIED ENTREPRENEURSHIP
Plapla St. Kaunlaran Village Caloocan City
SENIOR HIGH SCHOOL
First Semester - 2018-2019

“If you can dream it, you can do it.” Walt Disney

I. Instruction: Choose the letter that corresponds to the correct answer.

1. Widely accepted strategic marketing tool
a. Marketing Mix b. 4P’S c. 3P’S d. SWOT
2. Any physical good, services, or idea that is created by an entrepreneur or an innovator
a. Products. b. Price c. Place d. Promotion
3. Refers to a location or the medium of transaction.
a. Products. b. Price c. Place d. Promotion
4. Is the peso value that the entrepreneur assigns to a certain product or service after considering its costs.
a. Products. b. Price c. Place d. Promotion
5. Involves presenting the products or services to the public and how these can address the public’s needs, wants,
problems, or desires
a. Products. b. Price c. Place d. Promotion
6. This potential employees need to be well-compensated and provided with benefits
a. People b. Packaging c. Process d. Promotion
7. It is a overall identification (look and feel) of the product or service
a. People b. Packaging c. Process d. Promotion
8. Is defined as a step-by-step procedure or activity workflow that the entrepreneur or employees to effectively and
efficiently serve customers.
a. People b. Packaging c. Process d. Promotion
9. Is the major factors why a customers, the tendency is to look for the second layer of selection
a. Core Benefits b. Marketing Mix c. Physical Characteristics d. Augmented Benefits
10.These are the benefits are the only additional benefits; a customer will still get the core benefits of a product or service
a. Core Benefits b. Marketing Mix c. Physical Characteristics d. Augmented Benefits
11. Refers to the identity of a company, of a product, of a service, or of an entrepreneur
a. Brand name b. Brand c. Branding d. Brand Management
12. Is the supervision of the tangible and intangible elements of a brand.
a. Brand name b. Brand c. Branding d. Brand Management
13. Process of integrating the strategies formed from the marketing mix to give an identity to the product or service
a. Brand name b. Brand c. Branding d. Brand Management
14. Is a major differentiator of the entrepreneur against the competitors
a. Brand name b. Brand c. Branding d. Brand Management
15. It is the process of developing, testing, and commercializing a product or service with the ultimate objective of
solving the problem of the primary target market
a. Product Development b. Prototype c. Safety test d. Validation of Market Acceptability
16. It is the processes to be followed in effectively manufacturing or delivering the product or service.
a. Methods b. Manpower c. Machines d. Materials
17. Used in creating a product or performing a service, which includes supply chain management.
a. Methods b. Manpower c. Machines d. Materials
18. Right human resources who will handle certain business operations
a. Methods b. Manpower c. Machines d. Materials
19. The technology used in efficiently operating the business.
a. Methods b. Manpower c. Machines d. Materials
20. Process of bringing the products or services to customers.
a. Service Delivery Process b. Payment Process c. Distribution Method d. none of the above
21. These customers are often misinterpreted as affluent or high-end customers.
a. Targeted High-value customers c. Satisfying customer
b. Difficult customer d. Regular customer
22. Is the output of a sale wherein the sales price exceeds the cost to produce the product or render the service.
a. revenue b. collateral c. return of investment d. Expense
23. It refers to the value reduction of the noncurrent assets primarily due to natural wear and tear and other value-
reducing factors
a. Asset b. Depreciation c. Capital d. Liabilities
24. General Accepted Accounting equation should always be…
a. Assets=Liabilities + Capital c. Income - Expense = Net Income/Net Loss
b. Assets=Income d. Assets = Capital
25. A financial statement that describes the financial position of the business
a. Income Statement b. Balance Sheet c. Capital Statement d. Cash flow Statement

II. Computation:
Direction: Compute for the Cash Flow Statement of Antonio Castro Store. The first column is done for you as a
guide.

Startup Month 1 Month 2 Month 3 Month 4 Month 5

Month
Starting Cash
Balance 10,000 2,000 5,200 8,400 11,600 14,800
Add: Positive
Cash Flows 0 8,000 8,000 8,000 8,000 8,000
Less:
Negative Cash 8,000 5,000 5,000 5.000 5,000 5,000
flows
Add:
Depreciation 0 200 200 200 200 200
Ending Cash
Balance 2000 26. 27. 28. 29. 30.

III. Instruction: Read the questions carefully and analyzed the underlined word/s. Write T if the statement is true and F if
it is false.

_____31. The entrepreneur must discuss the marketing plan and marketing objective thoroughly.
_____32. Give special discount prices to first 100 customers who will like the page on Facebook.
_____33 Capital is the money that will be allocated by the entrepreneur to establish a business..
_____34. The primary target market are also sales leads or prospects.
_____35. The entrepreneur money is same from his personal money.
_____36. Entrepreneur becomes the checker in the “maker-checker” accounting concepts.
_____37. Revenue is the output of a sale wherein the Income is less than the operating expenses.
_____38. Balance Sheet is a financial statement that details the computation of net revenues of deducting cost of sales,
expenses and taxes from the gross revenue figures in retail perspective.
_____39. Income Statement is a core financial statement that describes the financial position of the business
_____40. Owner’s Equity or capital is the funds allocated by the entrepreneur to run the business.

IV. Problem Solving: Prepare Income Statement and Balance Sheet of Mr. Castro of
Labadami- labango Laundry Shop (10 pts.)

CASH 25,000 ACCOUNTS PAYABLE 383,333

CASH IN BANK 1,179,333 NOTES PAYABLE 1,500,000
ACOOUNTS RECEIVABLE 500,000 CASTRO, CAPITAL 1,475,167
INVENTORY 1,500,00 SALES 1,500,00
OFFICE SUPPLIES 15,000 RENT EXPENSE 10,000
FURNITURE 639,167 TAXES AND LICENSES 5,833
SALARIES EXPENSE 5,000
LIGHT AND WATER 2,000
TELEPHONE EXPENSES 2,000

NOTE: USE SEPARATE SHEET FOR COMPUTATON

************************************************** Good luck and Godbless*************************************************

/ggm
 KEY TO CORRECTION
ENTREPRENEURSHIP

1. a 31. T
2. a 32. T
3. c 33. T
4. b 34. T
5. d 35. F
6. a 36. T
7. b 37. F
8. c 38. F
9. a 39. F
10. d 40. T
11. b
12. d
13. c
14. a
15. a
16. a
17. d
18. b
19. c
20. c
21. a
22. a
23. b
24. a
25. b
26. 5,200
27. 8,400
28. 11,600
29. 14,800
30. 18,000

LABADAMI-LABANGO LAUNDRY SHOP

INCOME STATEMENT
FOR THE MONTH ENDED, SEPTEMBER 30, 2018
Income:
Sales 1,500,000
Operating Expenses:
RENT EXPENSE 10,000 10,000
TAXES AND LICENSES 5,833 5, 833
SALARIES EXPENSE 5,000 5,000
LIGHT AND WATER 2,000 2,000
TELEPHONE EXPENSES 2,000 2,000
TOTAL OPERATING EXPENSES 24,833

NET PROFIT 1,475.167

LABADAMI-LABANGO LAUNDRY SHOP

BALANCE SHEET
SEPTEMBER 30, 2018
Assets
Current Assets
Cash on hand 25,0000
Cash in Bank 1,179,333
Accounts Receivable 500,000
Inventory 1,500,000
Office Supplies 15,000
Total Current Assets 3,219,333
Fixed Asset 639,167
Furniture 3,858,500

Liabilities
Accounts payable 383,333
Notes Payable 1,500,000
Total liabilities 1,883,333
Owner’s Capital
Castro’s, Capital 500,000
Net Income 1,475,167
Total liabilities 1,975,167
Total Liabilities and Capital 3,858,500