Majorship LET Reviewer
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| LET Reviewer for TLE |
ENTREPRENEURSHIP
1. Carmela is selling some beauty products to Laura, who is performing the lead role in the tele-serye “BITUIN”. The underlined words in the above statement are referred to as:
A. enterprising
B. consumers
C. merchandise
D. entrepreneur
2. What type of display or visual merchandising is appropriate for food stores and restaurants?
A. open
B. flatform
C. architectural
D. closed
3. Personal qualifications of Prospective entrepreneur includes administrative ability. Entrepreneur’s proficiency in specific kinds of activity particularly involving methods, processes, procedures and techniques is referred to as:
A. technical skills
B. human skills
C. conceptual skill
D. all of the above
4. A kind of large-scale retailing that issues catalogue from which customers select the merchandise and customers send their orders and payments through the mail.
A. department store
B. mail-order firm
C. discount store
D. order-delivery store
5. Capital is needed in operating a business. Which type of capital is referred to as the fund used over and over again to purchase goods and pay for operating expenses?
A. fixed capital
B. working capital
C. cash reserves
D. bank account
6. A method of retailing where the salesperson comes to the home of the consumer with the samples of the merchandise.
A. direct retailing
B. over the counter
C. automatic retailing
D. order retailing
7. Below are examples of small-scale retailing. Which one falls under the itinerants store?
A. stores along the major traffic arteries
B. rolling store and horse-drawn cart
C. convenience store and specialty store
D. beauty shop, shoe repair and laundry shop
8. What is generallyreferred to as the ability of an individual to perceive the right kind of products or services that other need and deliver these needs?
A. entrepreneurship
B. proprietorship
C. partnership
D. investment
9. What is referred to as an aspect of management characterized by the men and women employed that has to be kept productive and happy?
A. finance
B. marketing
C. personal
D. production
10. Mark-up is the difference between the cost price and the selling price of the goods. If the product cost Php. 250.00 and the mark-up is Php. 125.00, how much is the selling price of the product?
A. Php. 125.00
B. Php. 375.00
C. Php. 500.00
D. none of the above
11. People with idea and initiative:
A. entrepreneur
B. foreman
C. care giver
D. supervisor
12. Process by which an individual produces goods and services:
A. entrepreneur
B. entrepreneurship
C. worker
D. manager
13. Goals characteristics:
A. Innovator
B. Inventor
C. SMART
D. Scientist
14. Quality of keenly observing the environment for ideas:
A. fortune teller
B. astronomer
C. adventurer
D. opportunity-seeker
15. Keeps on trying various alternatives to various services:
A. goal
B. vision
C. mission
D. persistent initiator
16. Does all possible means to keep promise:
A. salesman
B. retail man
C. committed worker
D. business man
17. The best age to engage in business:
A. nineteen
B. between mid-twenties and mid-thirties
C. forty
D. sixty
18. Financial problem:
A. inadequate capital
B. loss capital
C. no capital
D. enough capital
19. Ability to think of new ideas:
A. inventor
B. creativity
C. innovator
D. crafts man
20. Problem of computation:
A. capital problem
B. personnel problem
C. marketing problem
D. tax problem
21. The managerial functions of entrepreneurs are the following except one:
A. direct all activities
B. determine objectives
C. plan business programs
D. selling resources
22. A well-thought plan has the following characteristics except one:
A. adaptability
B. SMART
C. problem solving and decision-making involved personnel
D. provide needed resources
23. What managerial task does evaluation belongs?
A. planning
B. directing
C. controlling
D. organizing
24. The proponent of classical scientific management:
A. Frederick W. Taylor
B. Henry Fayol
C. Chester Bernard
D. Robert Owens
25. Suitable for business which sells only one line of goods:
A. partnership
B. sole proprietorship
C. corporation
D. cooperative
26. Corporation is formed when five or more people decide to go into business and they are known as:
A. partners
B. incorporators
C. subscriber
D. proprietor
27. A cooperative maybe owned by how many individuals?
A. 25
B. 12
C. 10
D. 8
28. The form of business is determined by:
A. availability of personnel
B. objectives
C. available resources
D. owner of the enterprise
29. Advanced the famous Theory X and Theory Y:
A. Mary Parker Follet
B. Douglas Mc-Gregor
C. George Elton Mayo
D. Henry Fayol
30. This theory recommends the use of mathematical approaches to management problems:
A. Quantitative Management Theory
B. Systems Management Theory
C. Contingency Management Theory
D. Behavior Management Theory
do you have the answers keys. Thank you
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