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LA Finns Scholastica Colleges Biday La, City of San Fernando, La Union Entrepreneurship Third Periodical Examination March 11-13, 2020 (ABM 12)

This document appears to be a practice exam for an entrepreneurship class. It contains multiple choice questions, true/false questions, fill-in-the-blank questions, and essay questions about entrepreneurship concepts. Some of the key topics covered include defining an entrepreneur, advantages and disadvantages of business ownership, different types of entrepreneurs, components of a business plan, and identifying opportunities and conducting market research.

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Shen Eugenio
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212 views4 pages

LA Finns Scholastica Colleges Biday La, City of San Fernando, La Union Entrepreneurship Third Periodical Examination March 11-13, 2020 (ABM 12)

This document appears to be a practice exam for an entrepreneurship class. It contains multiple choice questions, true/false questions, fill-in-the-blank questions, and essay questions about entrepreneurship concepts. Some of the key topics covered include defining an entrepreneur, advantages and disadvantages of business ownership, different types of entrepreneurs, components of a business plan, and identifying opportunities and conducting market research.

Uploaded by

Shen Eugenio
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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LA FINNS SCHOLASTICA COLLEGES

Biday La, City Of San Fernando, La Union

Entrepreneurship
Third Periodical Examination
March 11-13, 2020
(ABM 12)

Name: _______________________________________________ Score: __________

GENERAL NOTE: ERASURES MEANS WRONG!


A. MULTIPLE CHOICE: Identify the letter of the correct answer. Write the letter of your
answer on the space provided before each number. (15pts)

________1. What is an entrepreneur?


A. A person that entertains
B. A person who makes a plan takes risk
C. A wise advisor
D. All of the above

________2. What is an advantage of owning a business?


A. Long Work hours
B. Handwork
C. Being the boss
D. All of the above

________3. These entrepreneurs have the ability to think newer and better.
A. Imitating Entrepreneurs
B. Innovative Entrepreneurs
C. Drone Entrepreneurs
D. Social Entrepreneurs

________4. These are the individuals who are satisfied with the existing mode.
A. Drone Entrepreneurs
B. Imitating Entrepreneurs
C. Social Entrepreneurs
D. Drone Entrepreneurs

________5. He/she is always prepared for assuming losses that may arise on account of new
ideas and projects undertaken by him/her.
A. Overcoming resistance to change
B. Research
C. Assumption of Risk
D. Innovation

________6. These types of entrepreneurs are skeptical about the changes to be made in the
organization.
A. Drone Entrepreneurs
B. Innovative Entrepreneur
C. Fabian Entrepreneurs

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D. Social Entrepreneurs

________7. Which one is NOT a disadvantage of Entrepreneurship?


A. Risky
B. Uncertain Income
C. You are the boss
D. Work long hours

________8. Which one is NOT an advantage of Entrepreneurship?


A. Can choose a business of interest
B. You can be creative
C. Make a lot of money
D. You will make decisions alone

________9. What type of entrepreneurial business actually produces the products they sell?
A. Manufacturing
B. Wholesaling
C. Retailing
D. Service

_______10. This is the spark that drives the development of new products or services or ways to
do business.
A. Determination
B. Passion
C. Dedication
D. Creativity

_______11. They provide advice about business issues such as the development and
implementation of business plans, how to expand into a new market.
A. Sales
B. Mid-level management
C. Research and Development
D. Business Consultant

_______12. Who Reads The Plans?


A. Manager
B. Venture Capitalists
C. Housewife
D. All of the above

_______13. Which of the following is not part of the Market Plan involved in the business plan?
A. Pricing & Distribution
B. Product & Services
C. Controls & Product Forecasts
D. None of the above

_______14. It is an integration of functional plans such as marketing, finance,


manufacturing, sales and human resources.
A. Business Plan
B. Planning
C. Entrepreneurships
D. None of the above

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_______15. This is a process than never ends for a business.
A. Business Plan
B. Planning
C. Entrepreneurships
D. None of the above

B. MODIFIED TRUE OR FALSE: Write True if the statement is correct and if it is False
underline the word/s or phrase that cause the statement wrong, then write the correct word to
make the statement correct. Write your answer on the space provided before the numbers. (2pts
each)
_______________1. Passion is the ability to create rules and set goals. –leadership
_______________2. Entrepreneurship is a person who organizes and manages a business
undertaking, assuming the risk for the sake of profit.- entrepreneur
________________3. Mid-level management are responsible for executing organizational plans
which comply with the company's regulations.-policies
________________4. Social Entrepreneurs drive social innovation and transformation in various
fields including education, health, human rights and worker rights. - True
________________5. The business plan should be prepared by the businessman. -entrepreneur
________________6. The business plan may be read by employees, investors, bankers and
venture capitalists.- true
________________7. Executive Summary has three to four pages summarizing the complete
business plan. - true

C. FILL IN THE BLANK: Complete the paragraph by choosing from the list of words given in
the box. Write your answer on the blank provided. (10pts)

Financial Forecast Sale Volume


Entrepreneurial Mind Frame Macro Environment
Consumer Dislike Entrepreneurial Gut Game
Opportunity Seeking Value Added Chain
Opportunity Seizing Opportunity Screening

____________________ the ability of the entrepreneur to sense without using the five senses
this is also known Intuition. ____________________ the "pushing through" with the chosen
opportunity. ____________________ the “big or macro forces” that affect the area, the industry
and the market. _____________________ focuses on the volume produced or converted at each
link of the chain. ___________________ allows the entrepreneur to see things in a very positive
and optimistic light in the midst of crisis or difficult situations. __________________ the
process of cautiously selecting the best opportunity. ____________________ refers to things that
irritate customers. __________________ the monetary transactions that the business is expected
to engage in. ___________________ the number of units of inventory sold during an accounting
period. ____________________ involves the development of new ideas from various sources.

Answer:
1. Entrep. Gut Game 6.
2. 7. Consumer Dislike
3. Macro Environment 8. Financial Forecast
4. Value Added Chain 9. Sale Volume
5. Entrep. Mind Frame 10. Opportunity Seeking

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D. ENUMERATION: List down or enumerate what are asked for each of the following:
1. Give me 5 R’s of Opportunity Screening.
a.
b.
c.
d.
e.
2. Guidelines in conducting observation research.
a.
b.
c.
d.
e.

E. ESSAY: Read each question carefully. Answer it briefly but substantially.


1. What type of business are you interested in starting? Where would it be located (which part of
the city)? What would be a goal for your business? (5pts)

2. Prepare for a SWOT analysis as you develop your strategic plan or for your own business.
(6pts)
BUSINESS IDEA: ___________________________________________________

INSIDE THE BUSINESS


STRENGTHS WEAKNESSES

OUTSIDE THE BUSINESS


OPPORTUNITIES THREATS

Prepared by: Checked by:

Shendy M. Acosta Irene P. Espiritu, MAED


Subject Teacher Principal

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