
Entrepreneurship 12 Module 9
Quiz
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Education
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12th Grade
•
Medium
rhoda maru
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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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