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12th
grade
Business Enterprise Simulation Third Quarter Test Part 1
50 questions
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- 1. Multiple ChoiceDefine the term 'risk'A person who spots an opportunity to provide goods or services to customers in order to make a profitThe process/activities by which new businesses are formed in order to offer products and services in a marketThis is the possibility that the business will have a lower than expected profit or a lossCheck it satisfies a customer need = market research
- 2. Multiple ChoiceThe reward for enterprise is?ProfitHard workRiskSelf-discipline
- 3. Multiple ChoiceWhich of the following is not a risk of running your own business?Recession /economic / political problems and instabilityPoor reputation which can lead to loss of sales, loss of revenue and loss of profitabilityCommercial risks, failure of suppliers to supply and customers to payBetter work/life balance
- 4. Multiple ChoiceWhat is meant by a financial risk?Businesses rely on equipment 24/7. If this breaks down this leads to lower production and repair costs.Setting up a business can mean you lose your own or the banks moneyIt is critical that suppliers supply equipment to businesses. Customers need to pay for goods/services.Blockbusters failed to address the threat of Netflix as they had no digital content available online.
- 5. Multiple ChoiceWhat benefit does drawing up a business plan bring for a new entrepreneur?it shows exactly how much money the firm will makeit makes sure the bank will lend all the capital neededit means that the business start up has no risk of failureit helps in organising the resources needed for the new firm
- 6. Multiple ChoiceA______________is the means by which you deliver a product or service to the customer.direct channeldistribution channeldelivery methodlayout
- 7. Multiple ChoiceWhen you have a feasible business concept, the next step is to develop a/an__________________.business planfinancial analysisfeasibility analysisindustry
- 8. Multiple Choice"measures whether the lifetime benefits of the proposed information system will be greater than its lifetime costs"
The above statement describe one of the 4 feasibility assessment done by a System Analyst. what is the feasibility assessment about?Schedule feasibilityTechnical feasibilityEconomic feasibilityOperational feasibility - 9. Multiple Choice"measures whether the organization has or can obtain the hardware,software, and people needed to deliver and then support the proposed information system"
The above statement describe one of the 4 feasibility assessment done by a System Analyst. what is the feasibility assessment about?Schedule feasibilityTechnical feasibilityEconomic feasibilityOperational feasibility - 10. Multiple Choice"measures whether the established deadlines for the project are reasonable"
The above statement describe one of the 4 feasibility assessment done by a System Analyst. what is the feasibility assessment about?Schedule feasibilityTechnical feasibilityEconomic feasibilityOperational feasibility - 11. Multiple ChoiceOne of the most common reasons for a new business not surviving is:too much time spent on developing the business planno competitors in the industrypoor cash flow as a result of poor financial planningconsumers like dealing with small firms providing a service
- 12. Multiple Choice
Which platforms could be used for virtual marketing?
Facebook
Ms Excel
Powerpoint
UCAS
Microsoft
- 13. Multiple Choice
This refers to the personnel who will help your business in the long run.
technology
skills
suppliers input
manpower
- 14. Multiple Choice
Many people earn money working at a job. Another way to earn money is by —
buying new things at the store
volunteering
keeping money in a savings account
invest
- 15. Multiple Choice
Which of the following are characteristics of a Free Market economy?
competition
freedom of choice
little or no government control
all of the above
- 16. Multiple Choice
Which of the following is not the expectation of a A feasible or viable business idea?
Withstand the risks it will encounter
Generate adequate cash flow and profits
Remain viable in short period
Meet the goals of the founders
- 17. Multiple Choice
"Determining whether the proposed venture is generating enough profit to make the proposed venture feasible" statement best refer to?
Financial Routing
Profitability Analysis
Capital Distribution
Start-up Plan
- 18. Multiple Choice
Which of the following is not included in information in the financial feasibility study?
Start up Capital
Financial Sources
Profitability Analysis
Losses Probability
- 19. Multiple Choice
Management team refers to
a group of individuals responsible to make sure the sales of the product hit targeted value
a group of individuals responsible to evaluate the prowess or ability of its technical team
a group of individuals responsible to bring a product/service idea to market
a group of individuals responsible to entertain and promote the product to ensure customer's good feedbacks
- 20. Multiple Choice
Which of the following is true about Organizational Structure?
Identifies responsibilities for each position and the relationship among those positions
Obligate the technical team to trust their leader in every job aspects
Quick decision making and bring managers complex problems to be solved using conceptual thinking
Allow disobedient of hierarchical during emergency to ensure whole teams benefits
- 21. Multiple Choice
There were two grocery stores in a small town. One grocery store closed. What will most likely happen to the price of groceries in the town?
They will increase.
They will decrease.
They will stay the same.
All of the above
- 22. Multiple Choice
If the demand for a product is low, what will the seller most likely do?
lower the price
raise the price
keep the price the same
all of the above
- 23. Multiple Choice
How is a small business different from a corporation?
A corporation employs only a few people. A small business can employ thousands.
A corporation can be run in a house. A small business needs much more space.
A corporation can be run by one person. A small business needs many people
A small business only employs a few people. A corporations employs thousands.
- 24. Multiple Choice
What do you call the process of creating goods and services?
Management
Accounting
Production
Wholesaler
- 25. Multiple Choice
Which of the following components is the function of business that involves money management
Accounting
Production
Management
Finance
- 26. Multiple Choice
A business that sells its products to more than one country.
For-Profit Business
Domestic Business
Global Business
Wholesaler
- 27. Multiple Choice
The operation/function that keeps track of a company's financial situation
Finance
Production
Accounting
Management
- 28. Multiple Choice
The process of achieving company goals by effective use of resources through planning, organizing, and controlling.
Accounting
Production
Management
Finance
- 29. Multiple Choice
Businesses not associated with government agencies.
Domestic Business
Public Business
Global Business
Private Business
- 30. Multiple Choice
to use money in hopes of making a profit
risk
invest
dividend
asset
- 31. Multiple Choice
Which of the following is not the purpose of Feasibility Study?
Provide quality information for decision making
Establish market trends
Give focus to the project and outline alternatives
Specify business alternatives
- 32. Multiple Choice
Which of the following is included in the composition of feasibility study?
Financial Feasibility Study
Demographic Feasibility Study
Physical Feasibility Study
Resources Feasibility Study
- 33. Multiple Choice
What is Market Feasibility Study?
Assessment of the overall appeal of the market for the product or service being proposed
The total potential purchase that is expected from the target market
Market share stated in the form of a percentage of total market demand
Market segmentation to enable the business to satisfy the needs and wants of the consumers
- 34. Multiple Choice
Which of the following is not true about Target Market?
Can be individuals, households, business organizations local as well as international and government organizations
The group of customers with needs and wants that can be satisfied by the business through the supply of product/service.
Involve determining who are the customers the business wishes to serve
Participate as representative in Feasibility Study
- 35. Multiple Choice
Which of the following is among the aspects of technical feasibility study?
Demand
Location
Security
Instruction
- 36. Multiple Choice
Which of the following is true about Organizational Structure?
Identifies responsibilities for each position and the relationship among those positions
Obligate the technical team to trust their leader in every job aspects
Quick decision making and bring managers complex problems to be solved using conceptual thinking
Allow disobedient of hierarchical during emergency to ensure whole teams benefits
- 37. Multiple Choice
financial gain, a return on your money
loss
profit
risk
asset
- 38. Multiple Choice
a person that trades money for shares/stock in a company
stockbroker
dividend
stockholder
asset
- 39. Multiple Choice
Companies like Blockbuster have gone __________, losing all worth of their stock.
dividend
asset
stock
bankrupt
- 40. Multiple Choice
A father who wants to take his son into the business with him should form this type of business.
Sole Proprietorship
Partnership
Corporation
Franchise
- 41. Multiple Choice
What is meant by enterprise?
A person who spots an opportunity to provide goods or services to customers in order to make a profit
The process/activities by which new businesses are formed in order to offer products and services in a market.
A person who spots an opportunity to provide goods or services to customers in order to make a profit
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
- 42. Multiple ChoiceEquity capital consists of funds obtained through borrowing.TrueFalse
- 43. Multiple ChoiceSound financial management requires assets to be managed and acquired effectively and efficiently.TrueFalse
- 44. Multiple Choice
Money is the lifeblood of the business.
True
False
- 45. Multiple Choice
A project feasibility study is a document prepared to determine whether a certain project is worth pursuing or not.
True
False
- 46. Multiple Choice
In planning to have a business one should have money to use or finance the business.
True
False
- 47. Multiple Choice
Product description and Raw materials.
What components of project feasibility?
Technical study
Financial study
Market study
- 48. Multiple Choice
Partnership and Corporation
What components of project feasibility?
Management Study
Market study
Technical study
- 49. Multiple Choice
Pricing and Transportation
What components of project feasibility?
Market study
Organization study
Management study
- 50. Multiple Choice
Manufacturing process
What components of project feasibility?
Technical study
Market study
Management study
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