Entrepreneurship 12 Module 9

Entrepreneurship 12 Module 9

12th Grade

10 Qs

quiz-placeholder

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Entrepreneurship 12 Module 9

Entrepreneurship 12 Module 9

Assessment

Quiz

Education

12th Grade

Medium

Created by

rhoda maru

Used 1+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula to calculate profit?

Sales / Cost of Goods Sold = Gross Profit

Sales x Cost of Goods Sold = Gross Profit

Sales + Cost of Goods Sold = Gross Profit

Sales - Cost of Goods Sold = Gross Profit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered a variable cost in a business?

Office expenses

Salaries and wages of office staff

Materials used

Advertising expenses

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of setting up an accounting system in a business?

To increase expenses

To avoid taxes

To measure performance

To reduce profit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which government agency is responsible for issuing Mayor's Business Permit?

Local city or municipality

Department of Trade and Industry

Securities and Exchange Commission

Bureau of Internal Revenue

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main reason for securing insurance for a business?

To reduce employee benefits

To increase liabilities

To protect the business in case of litigation

To avoid customers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the basic requirements to start a business in the Philippines?

Registration with the Securities and Exchange Commission

SSS, PhilHealth, and Pag-Ibig Fund registration

Registration with the Department of Agriculture

Health insurance, fire insurance, and auto insurance

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of consulting professionals like accountants before starting a business?

To get advice and guidance

To reduce profit

To increase expenses

To avoid taxes

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