Establishing & Operating Micro-Small c.Tina realized that a customer paid Php a.

Creating an appropriate workplace

Medium Enterprises (MSMEs) 50 more than the total bill. She reported culture
PRETEST this immediately to her boss. b. Addressing productivity issues quickly
1. In the VMG Model, what refers to what d. All situations demonstrate business and effectively
you want your business to be 10-15 years ethics. c. Favoring one employee over another
from when you started? d. Hiring the right people for the right job
a. Goal 6. In the healthcare industry, retired 11. In her Daily Cash Sales Record, Anna
b. Mandate individuals with chronic conditions who recorded that she sold 8 pieces of potato
c. Mission frequent hospitals are an example of chips worth Php 12 each. What should she
d. Vision which type of market segment? write in the “amount” column?
a. Behavioral a. Php 96
2. Costs can be classified based on: b. Geographic b. Php 86
a. Use and behavior c. Demographic c. Php 90
b. Traceability and behavior d. Psychographic d. Php 94
c. Traceability and amount
d. Source and use 7. Which of the following is adopting a 12. Which of the following people is NOT
green business? experiencing the rewards of
3. How do you calculate the profit? a. Catherine uses styrofoam containers as entrepreneurship?
a. Subtract the sales from the revenue packaging for takeout food in her a. Eli used to be a barista at a famous
b. Add the expenditure and revenue carinderia. cafe. Since he started his own coffee shop,
c. Subtract the expenditure from the b. Toby has one big garbage bin for all he is now earning three times more than
revenue trash accumulated in his sari-sari store. he did as a barista.
d. Multiply the price of the product by the c. Keala sells handbags made out of b. Celine owns a dress-making business.
number of units sold recycled juice packs. She is able to express her creativity
d. None of these choices exhibit a green through the designs that she makes for
4. Which of the following is a way of business. her dresses.
working well with your competitors? c. Jackie felt a great sense of
a. Get your competitors’ customers when 8. Which of the following is NOT an accomplishment when her salon opened
they run out of stocks. example of an overhead expense? its second branch.
b. Announce the weaknesses of your a. Paying Php 3,000 for a sponsored post d. JB, an owner of a carpentry business,
competitors in social media to strengthen on Facebook works for more than 15 hours a day and
your marketing campaigns. b. Paying Joseph Php 12,500 for his salary even during weekends just to ensure that
c. Provide available stock or reference as a waiter his business will be successful.
when your competitor does not have c. Paying Php 1,500 for the water bill
enough stock to supply to their customers. d. Paying Php 1,800 for internet in Mindy’s 13. Martha has a beginning cash balance
d. Provide additional capital to competitors restaurant of Php 12,350 in her Basic Record Book for
for healthy competition. November. Her next entry is a transaction
9. What is the VAT rate in the Philippines? for her selling of 2 handbags worth Php
5. Business ethics is being demonstrated a. 11% 700 in total. What is her running balance
in which of the following situations? b. 12% now?
a. Melinda provided honest feedback on c. 10% a. Php 11,650
the suppliers’ products for better offers. d. 13% b. Php 10,650
b. Vince did an electrical repair in Mrs. c. Php 13,050
Tan’s house. A week later, he called her to 10. Effective human resources d. Php 12,350
ask if she was still having electrical management entails the following EXCEPT:
problems.
14. Which pricing model is based on the 20. Based on ownership, what type of
completion of output, service, or project? business is established and operated by
a. Value-Based Model two or more people or groups who
b. Fixed Pricing Model contributed assets to the business?
c. Hourly Pricing Model a. Sole proprietorship
d. Cost-Plus Model b. Partnership
c. Cooperative
15. When selling your goods or services on d. Corporation
credit, what kind of record-keeping form
should you use?
a. Customers’ Accounts Record
b. Asset Register
c. Daily Cash Sales Record
d. Loan Record
16. What is the first significant step a
business must take before it can officially
operate?
a. Register business with the Bureau of
Internal Revenue (BIR)
b. Secure business registration certificate
c. Process the Tax Identification Number
(TIN) of the business
d. Secure Mayor’s Permit

17. Which of the following is NOT a

primary objective of market research?
a. To identify a target market
b. To learn about competitors
c. To earn more profit
d. To determine the existing needs in a
market

18. Based on asset size, what type of

business has 10 to 49 employees?
a. Medium enterprise
b. Large enterprise
c. Small enterprise
d. Micro enterprise

19. What is revenue made of?

a. Sales and other income
b. Profit only
c. Profit and expenditure
d. Sales only