ENTR-112 WEEK 1-10

GRADE 12
AMALEAKS.BLOGSPOT.COM
Being the leader of the enterprise, entrepreneurs should possess which of the following
characteristics:
A: All of the answers correct
Development of core competencies requires investment in this.
A: All of the answers correct
Strategic Architecture requires the distillation of past and present data to answer which of these
questions.
A: All of the answers correct
A person who is able to identify business opportunities and implement actions to maximize on
the opportunities
A: Entrepreneur
The ability to do something successfully or efficiently
A: competency
In entrepreneurship, your life may lack stability and
A: Structure
A two bladed sword if not handled properly
A: outsourcing
Created when such innovation results in new demand
A: Wealth
This is not essential, but is normally a great help in thinking through the case for a new business.
A: A formal business plan
Besides the inability to secure any type of employment this is the most basic reason for self-
employment.
A: Need to improve personal income
Entrepreneurs are capable of working for long hours and solving different complexities at the
same time.
A: Make stress work for them
Which of this is a personality of an entrepreneur?
A: All of the answers correct
Which of this is a job you can get with an Entrepreneurship degree?
A: Both of the given choices are correct
Involves innovation, risk taking, and decision-making
A: Image
The job of entrepreneur is not for
A: Everyone
Entrepreneurship is the career for you if you have this.
A: All of the answers correct
They need to know how to represent a company, manage accounts, and follow up on leads.
A: Sales
There are those people in society whose ultimate goal is to go into business at some defined
point life no matter how attractive wage employment might seem.
A: To fulfill a life-long ambition
A reason a person to strike out on his or her own rather than work inside a larger company.
A: All of answers correct
Outsourcing can give short term
A: Competitive Advantage
Act as the glue that bind businesses together as well as pave the way for new business
development
A: competences
The ability to implement creative ideas
A: Innovatineness
Core competencies play an important role in the process of advantage and we can identify them
using which of these tests?
A: All of the answers correct
Being an owner is the ultimate career in
A: Capitalism
Coined the term core competency in 1989.
A: Both Dr.C.K Prahalad
To undertake
A: Entreprendre
An individual who works to fill job openings in businesses or organizations
A: Recruiter
There are not enough employment opportunities in the formal sector. The small business sector
has the capacity to create many jobs.
A: Inability to secure a desirable job
The ability to generate ideas
A: Creativity
Without developing a core competency, a company may be highly profitable.
A: Only for a short period
Adequate reward
A: Profit
A person who helps others to acquire knowledge, competences or values
A: Teacher
The year Dr.C.K Prahalad and Prof. Gray Hamel coined core competency
A: 1989
Entrepreneurs can choose the best way to do something, even if it is different from how they
want to do it.
A: Ability to accept change
You need to have heart, are motivated and
A: Driven
Which of these is a factor to consider before going into self-employment?
A: All of the answers correct
His definition of entrepreneurship placed an emphasis on innovation.
A: Joseph Schumpeter
One of the best things about pursuing a career as an entrepreneur is the wide-open
A: Possibilities
Eager for knowledge
A: Inquisitive
How many new businesses fail within 18 months of getting started?
A: Three out of five
Entrepreneurs are always alert to opportunities.
A: An eye for opportunity
This competencies are the collective learning of the organization, especially how to co-ordinate
the diverse production skill and integrate multiple stream of technologies
A: core
Which of these states the importance of core competencies?
A: Both of the given choices are correct
Strategic architecture is a
A: roadmap
Their core competency is said to be content delivery, but they are now venturing into original
content creation too.
A: Netflix
Core capabilities are crucial for this
A: survival
As an organization, they developed products that are rich in design and user experience.
A: Apple
Strategic intent provides a basis for__________ the goals of the organization
A: stretching
The possibilities in entrepreneurship are
A: Endless
When teaching the entrepreneurial side, which one should you focus on?
A: All of the answers correct
Entrepreneurs are persistent and strongly believe that working hard will help them attain their
goals.
A: An appetite for hard work
In Entrepreneurship, you may become stressed. Why?
A: Both of the given choices are correct
The ability to exert interpersonal influence by means of communication towards the achievement
of goals
A: Leadership
Crucial for survival but does not confer any specific differential advantage over other
competitors in the industry.
A: Core Capabilities
An intra company entrepreneur
A: Intrapreneur
Entrepreneurs most likely have a keen sense of what type of person is needed to fulfill a position.
A: Recruiter
With entrepreneurial degrees are well suited for mid-level management
A: Graduates
It will be capable of creating more value if it has identified its core competencies
A: company
Core competencies play an important role in the process of
A: advantage
Entrepreneurs have many
A: Personalities
It is critical to find a balance between prospects and customers to ensure that your future revenue
is protected, while still keeping existing customers happy.
A: Focusing only on revenue
An entrepreneur may decide to offer a new product in a growth area rather than pursuing sales of
existing products that have minimum growth potential.
A: Growth potential
A person whose job or task is to seek financial support for a charity, institution, or other
enterprise.
A: Fund-raiser
Entrepreneurs enable citizens to survive comfortably without too much borrowing
A: Self-reliance
Just because you can innovate, does not always mean that you should.
A: Focusing only on innovation and the competition.
The most important advantage of having core competencies is having this.
A: Long-term competitive advantage
A set of circumstances that makes it possible to do something.
A: Opportunity
Market Potential will enable you to more accurately assess this.
A: All of the answers correct
If I had asked people what they wanted, they would have said faster horses.
A: Henry Ford
Enables you to concentrate on and solve your target market's problems.
A: Outside-in approach
Customers understand problems, but they cannot help you to move your product forward.
A: Focusing only on customers
Entrepreneurs do not give in to failure. Rather, they seek out the faults and weakness and then
correct them.
A: Perseverance
The next stage towards developing the core competencies is to leverage the current resources of
the organization.
A: Strategic Architecture
During this phase, it is time to take advantage of the situation and execute all of the great ideas
and projections ascertained from the two prior phases.
A: Opportunity Realization
Critical to determining attractiveness.
A: Duration
People who have not yet purchased your product but are considering it
A: Prospects
A source of input, but not the only source of input
A: Customers
Act as the glue that bind businesses together as well as pave the way for new business
development.
A: competences
Allocates capital with the expectation of a future financial return.
A: Investor
A situation in which people lie in wait to make a surprise attack
A: Trap
The activity or condition of competing
A: Competition
A person who organizes and operates a business or businesses, taking on greater than normal
financial risks in order to do so.
A: Entrepreneur
Latent qualities or abilities that may be developed and lead to future success or usefulness
A: Potential
It is critical to find a balance between prospects and
A: Focus only on revenue
Entrepreneurs must demonstrate this characteristic in order to cope with all the risks of operating
their own business.
A: Self-confidence
People who have already purchased your product.
A: Exiting Customers
Truly think outside the box, stretch the limits, and are combinatorial in non-traditional ways.
A: Opportunity Recognizers (NOTE: WAG NINYO ISASAGOT TO SA 3RD QUARTER
EXAM PERO TAMA YAN SA WEEK 13 & 15. ANG SAGOT PARA SA QUARTER
EXAM AY “ALL OF THE ANSWERS CORRECT”)
Entrepreneurs believe in their own ability to control the consequences of their endeavor by
influencing their socio-economic environment rather than leave everything to luck.
A: Locus of Control
Crucial when beginning a new enterprise.
A: Opportunity Recognition
A situation in which an individual works for himself instead of working for an employer that
pays a salary or a wage.
A: Self-employed
Which of these is part of your market?
A: All of the answers correct
A certain amount of risk is involved in all entrepreneurial ventures, and growth is no different.
A: Risk and rewards
A new method, idea, product
A: Innovation
The entire size of the market for a product at a specific time.
A: Market Potential
The process of developing core competencies starts with this thought of being a leader in the
market.
A: Strategic Intent
The income that a business has from its normal business activities, usually from the sale of goods
and services to customers.
A: Revenue
During this stage, an entrepreneur must assess potential strategies and business models as well as
conduct market and economic analyses.
A: Opportunity Assessment
The collective learning of the organization, especially how to co-ordinate the diverse production
skill and integrate multiple stream of technologies.
A: Core Competencies
People in your target market who are not currently looking for a solution.
A: Target market users
Profitable customers
A: Gold
For a product or service to succeed, it must be the right product being sold
A: All of the answers correct
Low profit but desirable customers
A: Iron
Unprofitable and undesirable customers
A: Lead
The amount of money that a company actually receives during a specific period, including
discounts and deductions for returned merchandise
A: revenue
A company in the same industry or a similar industry that offers a similar product or service
A: Competitor
Time spent with each customer is different
A: therefore the cost is different
If you know what makes them tick, you can serve them in the way they prefer.
A: What makes them feel good about buying
Having or showing a strong desire and determination to succeed
A: Ambitious
Includes everyone connected to the web.
A: market for downloadable e-books over the internet
Includes homes, schools, businesses, and government organizations.
A: market for personal computers
The state or condition of yielding a financial profit or gain
A: profitable
A financial benefit that is realized when the amount of revenue gained from a business activity
exceeds the expenses, costs and taxes needed to sustain the activity
A: profit
If your customers enjoy dealing with you, they are likely to buy more. In addition, you can only
tackle problems that customers have if you know what they are.
A: What they think about you
A party that supplies goods or services.
A: Supplier
Which of these questions do you need to ask before you make a final decision on a new product
or service offering?
A: All of the answers correct
What are things you need to know about your customers?
A: Both of the given choices are correct
If you know how your customers view your competition, you stand a much better chance of
staying ahead of your rivals.
A: What they think about your competitors
Those who sell non-competing products and which generally help your sales.
A: Complementors / Influencers (NOTE: MAY NAPANSIN AKO SA TANONG NA ‘TO.
MAY CHANCE NA MAGING SAGOT AY COMPLEMENTORS OR INFLUENCERS.
HINDI KO ALAM KUNG PAANO KO MA-DIDIFFERENTIATE KASI SAME NA
SAME TALAGA YUNG QUESTION. PERO SA QUARTER EXAM ANG SAGOT AY
“COMPLEMENTORS”)
Net profit is revenue less what costs?
A: All of the answers correct (NOTE: MAY PAGKAKATAON NA NAUULIT YUNG “ALL
OF THE ANSWERS CORRECT” SA PAGPIPILIAN KAYA CHOOSE WISELY! TIP:
KUNG NAULIT YUNG “ALL OF THE ANSWERS CORRECT” PILIIN NIYO YUNG
PANGALAWA, MAS MATAAS ANG CHANCE NA TUMAMA)
It is at the center of every successful business.
A: Both of the given choices are correct
Most profitable customers
A: Platinum
Includes all the homes and commercial properties within a logical reach.
A: market for a landscaping business
Companies have systems in place to avoid this type of customers.
A: Lead
An amount that has to be paid or spent to buy or obtain something
A: costs
The state of being spread out or transmitted
A: Diffusion
Desirable and measurable outcome or result from an action, investment, project, resource, or
technology
A: Benefit
The degree to which a business or activity yields profit or financial gain
A: Profitability
Extend the application of a method or conclusion
A: Extrapolate
To succeed as an entrepreneur, you must develop the ability to select and offer the right products
or services to your customers
A: In a competitive market
most important thing you can do before deciding what to sell
A: think
Which of these questions will help you analyze the product or service from the customer's point
of view?
A: What does the product achieve, avoid or preserve for the customer?
Companies would always give the best service and other benefits to this type of customers.
A: Both of the given choices are correct
To make a product successful, you must be
A: Both of the given choices are correct
A company operating in several countries
A: Multinational
It becomes difficult especially in a service environment where labor as well as time also has a
cost factor associated with it.
A: Calculating cost per customer
Means to divide the marketplace into parts, or segments, which are definable, accessible,
actionable, and profitable and have a growth.
A: Segmentation
Hopeful and confident about the future
A: Optimistic
Includes not just the people who regularly go there but also everybody who lives within driving
distance.
A: market of a local movie theater or restaurant
Accomplishing an aim or purpose
A: think
What is/are the thing/s you need to know before you can sell to a potential customer?
A: All of the answers correct
Those who have products and services similar to you and where customers who are buying
something will compare your offerings and prices directly, weighing one up against the other.
A: Competitors
Your target market should be measurable, sufficiently large and __________.
A: reachable
This thinking is often used in conjunction with its cognitive colleague, convergent thinking,
which follows a particular set of logical steps to arrive at one solution, which in some cases is a
'correct' solution
A: divergent
If you have a retail outlet, you have the means of distributing a customer comment card or
__________.
A: questionnaire
Which of the following should be a characteristic of your market?
A: All of the answers correct
A series of interviews of people in your target market.
A: Market Validation
The interaction with competitors is usually directly
A: Antagonistic
This thinking generally means the ability to give the "correct" answer to standard questions that
do not require significant creativity, for instance in most tasks in school and on standardized
multiple- choice tests for intelligence
A: convergent
Buy less, but are useful as in aggregate they may buy quite a lot.
A: Minor customers
A thought process or method used to generate creative ideas by exploring many possible
solutions.
A: Divergent thinking
The ability to give the correct answer to standard questions that do not require significant
creativity.
A: Convergent thinking
A valuable exercise and can create preliminary benchmarks.
A: Surveying existing customers
When you determine your target audience
A: Both of the given choices are correct
The process of assessing the viability of a new good or service through research conducted
directly with the consumer that allows a company to discover the target market and record
opinions and other input from consumers regarding interest in the product.
A: Market Research
Your biggest advocates who want to help you.
A: Your respondents
They are like competitors but their products are not the same.
A: Substitutors
A commonly used geographic segmentation variable that affects industries such as heating and
air conditioning, sporting equipment, lawn equipment and building materials
A: climate
Existing customers is no doubt a valuable exercise and can create preliminary benchmarks, but
the focus of this article is on surveying non-customers, or people you may not immediately be
able to access
A: surveying
This budget will be much more cost effective if you promote to one type of customer and speak
directly to them
A: promotional
Most typically divided into smaller target market segments based on geographic, demographic,
psychographic and behavioristic characteristics.
A: Larger markets
How do you get started using a survey and a targeted audience to make smart decisions?
A: Both of the given choices are correct
Collecting answers are one bit, but the next bit comes in processing the answers to qualify them
and in prioritizing, them based on
A: authenticity
They may sell directly into the market but largely they need to be kept aligned to your strategy.
A: Suppliers
A characteristic of a product/service that automatically comes with it
A: feature
Typically, anonymous and try to reach as many members of a target market as possible
A: surveys
Attempt to get an understanding of a specific market segment by questioning eight to 12
members of that group to discover what psychographic and behavioristic factors might motivate
the entire group.
A: Focus groups
The desire for status, enhanced appearance and more money are examples of this variable
A: psychographic
If you ask people vague questions, you will also get __________ answers in response
A: vague
A thing that is accepted as true or as certain to happen, without proof.
A: Assumption
He coined convergent thinking.
A: Joy Paul Guilford
Any group of actual or potential buyers of a product.
A: Market
A profile for a business would include such factors as customer size, number of employees, type
of products, and annual revenue
A: demographic
An overriding issue in target market selection
A: profitability
In this type of market, individuals, groups or organizations that purchase your product or service
for direct use in producing other products or for use in their day-to-day operations
A: industrial
If you ask too many deep questions, you might lose the
A: audience
Ideally face to face, where you are still trying to understand the target audience and how real the
pain point is.
A: interview
One tip of framing questions is to put on this hat
A: skeptical
How do you create a great survey?
A: Both of the given choices are correct
The entire concept of customer development is feedback
A: driven
Anchor statements are rather
A: powerful
Helps in growing branches of different businesses and then these businesses grow products as
fruit.
A: Core competency trunk
Your skill at this is critical to your success.
A: Customer
Explicit statements from your market that declare, "I want a product to do X".
A: Stated Needs
Those who sell non-competing products and which generally help your sales.
A: Complementors (NOTE: ANG SAGOT NA ITO AY PARA SA QUARTER EXAM
LANG)
Problems with yet undefined solutions.
A: Silent Needs
Successful entrepreneurs always have the profit margin in sight and know that their business
success is measured by profits.
A: Focus on profits
Companies would always give the best service and other benefits to this type of customers.
A: Gold (NOTE: ANG SAGOT NA ITO AY PARA SA QUARTER EXAM LANG)
Your target market should be measurable, sufficiently large and
A: reachable
The desire for status, enhanced appearance and more money are examples of this variable.
A: psychographic
Entrepreneurs are the persons who take decisions under uncertainty and thus they are willing to
take risk, but they never gamble with the results.
A: Risk bearing
To make a product successful, you must be.
A: Both of the given choices are correct
Customer classification depending on profitability.
A: Profit tiers
If you have a retail outlet, you have the means of distributing a customer comment card or
A: questionnaire
Typically, anonymous and try to reach as many members of a target market as possible
A: surveys
A profile for a business would include such factors as customer size, number of employees, type
of products, and annual revenue.
A: demographic
The costs incurred to deliver the product from the production unit to the end user. It is a broad
terminology and it includes several costs.
A: Distribution cost
To succeed as an entrepreneur, you must develop the ability to select and offer the right products
or services to your customers.
A: In a competitive market
Entrepreneurs have strong desire to achieve higher goals.
A: Need to achieve
The act of utilizing the promotional mix
A: Process of promotion
The total cost associated with delivering goods or services to customers.
A: Marketing Cost

ENTR-112 WEEK 11-20

GRADE 12
AMALEAKS.BLOGSPOT.COM

Figured as a percentage of the seller's cost

A: markup
A notice or announcement in a public medium promoting a product, service, or event
A: advertisement
What are the four P's of marketing?
A: Product, price, place, promotion
With enough frequency of the message, any name can become __________.
A: memorable
Take the time to describe the specific value and qualities of the product.
A: Define the product in detail
A straightforward product design is essential.
A: Refine your design with simplicity in mind.
A good, idea, method, information, object or service created as a result of a process and serves a
need or satisfies a want.
A: Product
Give the character depth and be genuine.
A: Be real, and have a story
Determines the most efficient way for each portion of the process to be done to eliminate damage
to the product and to eliminate areas where time and manpower are being wasted
A: manager
The organization must develop the new product into different product concepts.
A: Development and Testing
A value that will purchase a finite quantity, weight, or other measure of a good or service
A: Price
At this stage, the product is available for purchase in the marketplace.
A: Commercialize
Translate goals into detailed actions and interim targets
A: Budgets
A limited list of important items or individuals: especially: a list of candidates for final
consideration
A: Shortlist
Not the same as a prototype, but some manufacturers try to sell them as such.
A: Virtual prototype
Narrow the focus of the product by identifying who will be buying.
A: Describe the targeted audience for the product
Your brand must be powerful enough to force them out of their routines.
A: Craft your image
The amount of money that a company actually receives during a specific period, including
discounts and deductions for returned merchandise
A: Revenue
The technical equipment or machinery needed for a particular activity or purpose
A: apparatus
Reflects the decrease in value of capital assets used to generate income
A: Depreciation
Reward your followers with something special and exclusive
A: Have a payoff, and say thank you
Indicate how similar products are selling in the marketplace, using the market research that you
have collected.
A: Create a pricing strategy for the product
A name, term, design, symbol, or other feature that distinguishes an organization or product from
its rivals in the eyes of the customer
A: Brand
Includes all the ways you tell your customers about your products or services and how you then
market and sell to them
A: Promotion
Packaging refers to
A: All of the answers correct
Refers to the way your product or service appears from the outside
A: Packaging
A disruptive technology with the ability to revolutionize certain industries
A: internet
A party that supplies goods or services
A: Supplier
Production is both reactive and proactive almost __________.
A: simultaneously
The last portions of the M's of Production 
A: materials
A target market description, value proposition and sales goals are conceived at this time.
A: Developing Market Strategy
A physical product is developed.
A: Product Development
Offer a great opportunity to talk with a number of potential suppliers in the same place at the
same time
A: Exhibitions
Discovered the most important factor applied by the best companies was that they first "got the
right people on the bus and the wrong people off the bus."
A: Jim Collins
This entails generating ideas for new products.
A: Ideas
Where your product or service is actually sold.
A: Place
The arena of competitive or commercial dealings: the world of trade
A: marketplace
The second M in the 4M's of Operation
A: manpower
The beliefs or opinions that are generally held about someone or something.
A: Reputation
Combining the elements of these provides you with a clear focus for marketing a product and for
satisfying the objectives a company has for the product.
A: Marketing Mix and Marketing Strategy
A principle or standard by which something may be judged or decide
A: criteria
Creating a brand perception requires
A: intrusion
__________ waste is the key to efficient and profitable production
A: controlling
The goal is developing an exchange. Force your opinion and you will end conversations before
they begin.
A: Ask, do not tell
Includes all interest payable for debts, both short-term and long-term
A: Interest
The goal is to reduce the number of ideas.
A: Screen Ideas
A person who writes the text of advertisements or publicity material
A: copywriter
Hear a person's need, and then share expertise in a personal way that is motivated other than to
help.
A: Be interested, and respond
When you are developing a name for a business, a product or a service, you have a number of
options. Which one in this list is an option?
A: All of the answers correct
This step provides the organization the ability to not only test the marketing, but also the product.
A: Test Market
Add to the conversation by offering up whatever knowledge you have.
A: Be interesting, and give
Hear the conversation first, and then participate.
A: Listen, do not just talk
The drive train that gets us where we are going
A: production
Includes all revenue streams generated by the business
A: Income
The overall effect of something
A: impression
The first visceral connection the consumer makes with the brand
A: logo
This step reviews the sales, costs and profit projections of the new product to decide if the
organizational goals are met.
A: Business Analysis
Recognize that place goes beyond geographic location.
A: Identify the place where the product will be marketed
This is the third M in the sequence
A: machine
Create a promotional strategy that features the product qualities as effectively as possible.
A: Define the promotional techniques that you will use for the product
If __________ is not properly involved in the other four M's and it is sufficiently aware of the
process and the possible outcomes, the whole operation and even the problems solution process
could yield only mediocre to poor results
A: management
The promises behind the brand create its appeal, but getting the word out is still what brings in
the customers.
A: Get known
People form their first impression within the first
A: 30 seconds
Responsible for every element of your sales, marketing strategies, and activities
A: People
The most successful companies pick a competitive position from which they know their brands
can win.
A: Know What the Customer Wants
Relating to or noting a new product, service, or idea that radically changes an industry or
business strategy
A: disruptiveness
A marketing strategy that aims to make a brand occupy a distinct position, relative to competing
brands, in the mind of the customer
A: Positioning
Happens in the minds of consumers
A: Branding
It is everything for everyone
A: Image
The engine that powers Auto Salvage yards
A: sales
Every business needs a reason for their customers to buy from them and not their competitors.
A: Unique Sales Proposition
Shows the company's real bottom line.
A: Net profit after taxes
A financial document generated monthly and/or annually that reports the earnings of a company
by stating all relevant revenues and expenses in order to calculate net income.
A: Income Statement
The investigation of the needs and opinions of consumers, especially with regard to a particular
product or service.
A: Consumer Research
A first, typical or preliminary model of something, especially a machine, from which other forms
are developed or copied.
A: Prototype
One of the most powerful financial tools available to any small-business owner.
A: Business Budgeting
Inventory fully assembled and available for sals
A: Finished products
Which of these is a key to improve the gross margin?
A: Both of the given choices are correct
Inventory that is partially assembled
A: Work-in-progress
What you plan to sell, and what will convince people to buy.
A: Revenue model
The two primary levers of a company's business model are pricing
A: Pricing and costs
Purchased to create a finished product.
A: Raw material
Implies the person behind the brand name has a credibility to be in this business, a pride of
workmanship and a moral standard.
A: Family name
Includes all the costs related to the sale of products in inventory.
A: Cost of goods
The set of controllable, tactical marketing tools that a company uses to produce a desired
response from its target market.
A: Marketing Mix
A unique or novel device, method, composition or process.
A: Invention
A set of activities that a firm operating in a specific industry performs in order to deliver a
valuable product or service for the market.
A: Value chain
Include all overhead and labor expenses associated with the operations of the business.
A: Operating expenses
Unique from their competition and often become among the most memorable.
A: Obscure brand names
A series of steps that includes the conceptualization, design, development and marketing of
brand new or nearly branded products or services.
A: Product Development
Designed to meet the company's marketing objectives by providing its customers with value.
A: Marketing Strategy
Those things that change based on the amount of product being made and are incurred as a direct
result of producing the product.
A: Variable costs
Estimates of the future financial performance of a business.
A: Financial projections
The choice of a target market and formulation of the most appropriate promotion mix to
influence it.
A: Promotional Strategy
A great equalizer for the cash-strapped entrepreneur.
A: Social Media
A bookkeeper's central role.
A: To maintain financial records for a company or organization.
All of your business transactions pass through this account
A: Cash
The arrangement of and relations between the parts or elements of something complex
A: structure
Which of these is a part of a business plan?
A: All of the answers correct
These must be entered in the accounting software program on a daily basis so account balances
accurately reflect income and outgo.
A: Financial transactions
Amounts that are owed to you by your customers
A: Debtors
Many business owners think of bookkeeping as
A: Unwelcome chore
They are based on your assumptions about how your business will perform.
A: Pro forma statements
A thing providing protection against a possible eventuality
A: insurance
An idea is just an idea until you have a paying customer attached to it. Anyone can discredit a
simple idea, but no one can discredit paying customers according to
A: Will Chroter
Author of Bookkeeping Kit for Dummies
A: Lita Epstein
A stock or any other security representing an ownership interest.
A: Equity
Why it is important to keep records?
A: All of the answers correct
Which of these is an example of a business structure?
A: All of the answers correct
A financial journal that contains all cash receipts and payments, including bank deposits and
withdrawals.
A: Cashbook
Relating to or involving the imagination or original ideas, especially in the production of an
artistic work
A: creative
Entity that advances cash to a borrower for a stated period and for a fixed or variable rate of
interest
A: lender
Which of these are included in a business record?
A: All of the answers correct
Include items such as the cost of goods sold payroll for employees, payroll, sales and income
taxes, business insurance and loan interest
A: Expenses
The activity or occupation of keeping records of the financial affairs of a business.
A: Bookkeeping
Recording this in a timely and accurate manner is critical to knowing where your business
stands.
A: Sales
An instance of buying or selling something
A: Cash
This account is where you track any raw materials or finished goods that you buy for your
business.
A: Purchases
Your projections should be
A: Realistic in-between
Will include accounts payable, wages and salaries, taxes, rent and utilities, and loan balances
A: Liabilities
Help an entrepreneur keep track of business transactions, aid in the filing of taxes, compile final
accounts and act as a future reference.
A: Records
A bookkeeper must meet with department supervisors and other managers to discuss budget
needs and inventory demands.
A: Office Communication
Products you have in stock to sell are like money sitting on a shelf and must be carefully
accounted for and tracked.
A: Inventory
Which of these is an example of a record?
A: Both of the given choices are correct
A thing that is borrowed, especially a sum of money that is expected to be paid back with interest
A: loan
This kind of business owner will know his business inside and out and be aware of when it is
prudent to cut corners and when it is not.
A: Both Perceptive and Savvy
Your company's sales and/or other sources of income
A: Revenues
The action or process of investing money for profit or material result
A: investment
This is the biggest cost of all for many businesses.
A: Payroll Expenses
Provide helpful information about a company's liquidity, profitability, debt, operating
performance, cash flow and investment valuation.
A: Financial ratios
Which of these is a key financial statement?
A: All of the answers correct
Protects the business in the event of litigation.
A: Liability insurance
Which of these is an example of a bookkeeping account?
A: All of the answers correct
As good as or better than others of a comparable nature
A: competitive
Managing this account does not take a lot of time and is important to investors and lenders who
want to track how well the company has done over time.
A: Retained earnings
An entrepreneur should maintain records to meet his or her business requirements.
A: True
Keeping this account accurate and up to date is essential for meeting tax and other government
reporting requirements.
A: Payroll Expenses
This is when a company purchases a fixed asset and expenses it over the entire period of its
planned use, not just in the year purchased
A: Depreciation
Record keeping is important in a business for it is one the many ways to inform the entrepreneur
how the business is doing.
A: False
Shows your company's assets and liabilities.
A: Balance sheet
Your financial statements should include an income statement, a balance sheet and a _____
statement
A: cash-flow
If you have borrowed money to buy equipment, vehicles, furniture or other items for your
business, this is the account that tracks what is owed and what's due.
A: Loans Payable
Business records must be retrievable.
A: True
This is money due from customers, and keeping it up to date is critical to be sure, that you send
timely and accurate bills or invoices.
A: Accounts Receivable
This figure represents the amount of income earned by the business before paying taxes.
A: Net profit before taxes
Are assets that you cannot touch or see but that have value. They include franchise rights,
goodwill; no compete agreements, patents and many other items
A: Intangible
Are assets for long-term use and include land, buildings, leasehold improvements, equipment,
machinery and vehicles
A: fixed
Records are a legal requirement.
A: True
These expenses go up or down based on the sales you make such as advertising, delivery charges
and electricity if you are manufacturing
A: variable
These are the assets in a business that can be converted to cash in one year or less
A: current
Shows what types of employees you have along with what they will cost in terms of salary and
wages, health insurance, retirement plan contributions, workers compensation insurance,
unemployment insurance, and Social Security and Medicare taxes.
A: Personnel Plan
These selling, general and administrative expenses are necessary to run the business.
A: Operating expenses
A bookkeeper's central role is to maintain financial records for a company or organization.
A: True
Which of these is characteristic of a Cash-Flow Statement?
A: All of the answers correct
This is caused by fluctuations in operating, investing and financing cash flow.
A: Net change in cash and marketable activities
Everyone likes to send money out of the business.
A: False
Shows the sums you expect to be coming into and going out of your business in a given time
frame.
A: Cash flow statement
These costs include materials used, direct labor, plant manager salaries, freight and other costs
associated with operating a plant.
A: Costs of goods sold
A chart that breaks down how much your business expects to sell in various categories by month
and by year.
A: Sales Forecast
This is the gross revenue generated from the sale of clothing less returns and allowances
A: sales
Purchases is where you track all incoming revenue from what you sell.
A: False
Cost of goods, commissions or discounts, variable and fixed expenses.
A: Business expenses
Include notes payable on lines of credit or other short-term loans, current maturities of long-term
debt, accounts payable to trade creditors, accrued expenses and taxes and amounts due to
stockholders.
A: Current liabilities
These include sales of common stock, changes in short- or long-term loans and dividends paid.
A: Net cash flow from financing activities
It is calculated as sales less the cost of goods sold.
A: Gross profit
Include the balance sheet, income statement, statement of changes in net worth and statement of
cash flow.
A: Financial Statements
A written description of your business' future.
A: Business plan
Most business records have specified retention periods based on legal requirements and / or
internal company policies.
A: True
These primarily consist of the purchase or sale of equipment.
A: Net cash flow from investing activities
These liabilities typically consist of all bank debt or stockholder loans payable outside of the
following 12-month period.
A: long-term
It must be retrievable later so that the business dealings can be accurately reviewed as required.
A: Business record
(TRUE OR FALSE) Products you have in stock to sell are like money sitting on a shelf and must
be carefully accounted for and tracked.
A: True
An entrepreneur should entrust record keeping to any person.
A: False
This is the total amount of state and federal income taxes paid.
A: Income taxes
They include cash collections from customers: cash paid to suppliers and employees: cash paid
for operating expenses, interest and taxes: and cash revenue from interest dividends.
A: Net cash flow from operating activities
Which of these should be included in your financial statements?
A: All of the answers correct
This is the amount of profit earned during the normal course of operations.
A: Operating profit
Include cash, accounts receivable, inventory and equipment.
A: Assets
This is the total amount of state and federal income taxes paid
A: income
Retailing and wholesale is the difference between the stock at the start and end of this period
A: Inventory-reporting

PAALALA: YANG MGA TANONG NA NASA BABA AY “FILL IN THE BLANK”.

INILIGAY KO NA YUNG SAGOT NA GALING SA MODULE PERO PUTANG INA DI
PA RIN TUMATAMA. LAHAT NG TANONG DIYAN SA BABA GANUN GINAWA KO
PERO SAME RESULT, MALI PA RIN. SINUBUKAN KO NA RIN I-ALL CAPS YUNG
SAGOT PERO GANUN PA RIN, NAGTRY DIN AKO MAGSAGOT NG TRUE OR
FALSE PERO KINGINA WALA TALAGA. TIGNAN NIYO PICTURE SA TAAS,
GANYAN TINUTUKOY KO. GALING NA SA MODULE, INILAGAY KO SA TANONG
PERO ANG RESULTA AY MALI. KAYA KUNG MAY NATUKLASAN KAYONG
PARAAN NA KUNG PAANO MAKUHA YUNG TAMANG SAGOT, PAKISABI
KAAGAD SA AKIN. “JOVERT MANADONG” SA FACEBOOK, SALAMAT.
#RIPWEEK19 #DIMAPERFECT #AMAANUENA
[FILL IN THE BLANK] This is where you track any raw materials or finished goods that you
buy for your business
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] In order to fulfil the needs identified above you will need different sets
of
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK]With coworkers on a daily basis and creating procedures for receipt
submission and expense account reimbursements can help your work day flow smoothly
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] As the business becomes more, it will be necessary to hire a
knowledgeable bookkeeper or accountant
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] A stock or any other security representing an ownership interest
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] A business record must be
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] An entrepreneur should entrust record keeping to a person
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] Records are a legal
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] His/her central role is to maintain financial records for a company or
organization
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] Products you have in stock to sell are like money sitting on a shelf and
must be carefully accounted for and tracked
A: PAKIBASA MUNA YUNG NASA ITAAS
[FILL IN THE BLANK] Estimates of the future financial performance of a business.
A: PAKIBASA MUNA YUNG NASA ITAAS
QUARTER EXAM
The Fourth P in the marketing mix is the place where your product or service is actually sold.
A: True
Marketing Strategy is designed to meet the company's marketing objectives by providing its
customers with value.
A: True
A strong relationship will only benefit the supplier.
A: False
Fixed expenses are recorded as cost of goods sold. Variable expenses are counted as operating
expenses.
A: False
It is important to develop this before you start the naming process.
A: brand strategy
A set of activities that a firm operating in a specific industry performs in order to deliver a
valuable product or service for the market. 
A: Value chain
These selling, generaland administrative expenses are necessary to run the business.
A: Operating expenses
The best suppliers will want to talk with you regularly to find out what needs you have and how
they can serve you better.
A: True
Things that change based on the amount of product being made and are incurred as a direct result
of producing the product. 
A: Variable costs
The total amount of resources that a firm puts into the marketing mix in order to stimulate
demand for its goods and services.
A: marketing effort
To succeed, you need to know this about your brand.
A: true perception
By definition, financial projections are estimates of the future financial performance of a
business.
A: True
The income statement is designed to convert the accrual basis of accounting used to prepare the
income statement and balance sheet back to a cash basis.
A: False
The most effective financial budget includes both a short-range, month-to-month plan for at least
a calendar year and a long-range, quarter-to-quarter plan of at least three years that you use for
financial statement reporting. It should be prepared during the two months preceding the fiscal
year-end to allow ample time for sufficient information gathering.
A: True
The marketing mix can be divided into four groups of variables commonly known as the four P's.
A: True
The 4P's of marketing has no weaknesses.
A: False
Promotion refers to the way your product or service appears from the outside.
A: False
Designed to meet the company’s marketing objectives by providing its customers with value.
A: Marketing Strategy
Busy packaging that explodes with colors or design elements will encourage customers.
A: False
A credit check will help reassure you that they will not go out of business when you need them
most.
A: True
A name, term, design, symbol, or other feature that distinguishes an organization or product from
its rivals in the eyes of the customer. 
A: brand
If you need to choose a great brand name for your product, service or business, start by
considering the importance of the name in this.
A: branding efforts
Refers to method companies use to price their products or services.
A: pricing strategy
Maintaining a good short- and long-range financial plan enables you to control your cash flow
instead of having it control you.
A: True
A specific, defined series of activities used in marketing a new or changed product or service, or
in using new marketing channels and methods.
A: marketing campaign
Provides a snapshot of the business's assets, liabilities and owner's equity for a given time. 
A: balance sheet
The most successful companies pick a competitive position from which they know their brands
can survive.
A: False
A stock or any other security representing an ownership interest. 
A: Equity
It is important to protect your name to the appropriate degree.
A: protect your brand name
The first visceral connection the consumer makes with the brand. 
A: logo
Fundamental in establishing the proper policies, leadership, clear guidelines, work discipline,
effective solution methods plus the proper work culture. 
A: management
Manpower is fundamental in establishing the proper policies, leadership, clear guidelines, work
discipline, effective solution methods plus the proper work culture.
A: False
The marketing of goods or services by means of telephone calls, typically unsolicited, to
potential customers.
A: Telemarketing
Measures all your revenue sources vs. business expenses for a given time period. 
A: Income statement
Image is everything for everyone.
A: True
The technical equipment or machinery needed for a particular activity or purpose. 
A: Apparatus
Most customers think of you in terms of a single attribute, either positive or negative. 
A: Attribution Theory
The most successful companies pick this from which they know their brands can win.
A: competitive position
A straightforward product design is essential.
A: True
A low-cost vendor is your best bet.
A: False
A written report of the financial condition of a firm.
A: financial statement
The process of assessing the viability of a new good or service through research conducted
directly with the consumer that allows a company to discover the target market and record
opinions and other input from consumers regarding interest in the product.
A: market research
Your inability to select, recruit, hire and retain the proper people, with the skills and abilities to
do the job you need to have done, is more important than everything else put together.
A: False
The balance sheet provides a snapshot of the business's assets, liabilities and owner's equity for a
given time.
A: True
Controlling waste is the key to efficient and profitable production.
A: True
The first step in developing a financial management system is the creation of financial
statements.
A: True
A document that records a business dealing.
A: business record
A brand is a name, term, design, symbol, or other feature that distinguishes an organization or
product from its rivals in the eyes of the customer.
A: True
The way in which a company generates revenue and makes a profit from company operations. 
A: business model
All material needed to clean and package are always available and are placed to minimize effort.
A: True
This kind of business owner will know his business inside and out and be aware of when it is
prudent to cut corners and when it is not.
A: Both of the given choices are correct
Budgeting only the income statement also allows a full analysis of the effect of potential capital
expenditures on your financial picture.
A: False
A first, typical or preliminary model of something, especially a machine, from which other forms
are developed or copied. 
A: Prototype
After you choose your great brand name, you can create your logo and this.
A: corporate identity
Designed to convert the accrual basis of accounting used to prepare the income statement and
balance sheet back to a cash basis. 
A: cash-flow statement