ENT

Question 1

is the amount you gain after selling your product.

Answer 1

Profit

Question 2

are those things that change based on the amount of product
being made and are incurred as a direct result of producing the product.

Answer 2

Variable costs

Question 3

represents the difference between net sales and cost of sales.

Answer 3

gross profit

Question 4

generally are more static in nature.

Answer 4

Fixed costs

Question 5

the entrepreneur should have a clear idea on what is his purpose
of putting up his enterprise.

Answer 5

Objectives-

Question 6

this means that the entrepreneur must know what the tasks are he has
to perform in order that his objectives will be realized.

Answer 6

Tasks-

Question 7

This means that the entrepreneur should have a timetable or
a schedule to follow every task, so that it will be accomplish on time and
realize his objective.

Answer 7

Time allocation-

Question 8

This means that the entrepreneur should monitor the development
of the tasks and the accomplishment of the objective.

Answer 8

Progress-

Question 9

for partnership
or Corporation

Answer 9

Securities and Exchange Commission (SEC) Registration-

Question 10

for your business
tradename

Answer 10

Department of Trade and Industry (DTI) Registration-

Question 11

for getting the license to operate in the city or
municipality and payment of your local business taxes.

Answer 11

Mayor’s Business Permit-

Question 12

for getting TIN, official
receipts and invoices, registering your books of accounts and paying your
national Internal revenue taxes

Answer 12

Bureau of Internal Revenue (BIR) Registration -

Question 13

for registering yourself or
company as an employer and for remitting your employees’ contribution
together with your employer’s share

Answer 13

SSS, PhilHealth, and Pag-Ibig Fund registration-

Question 14

Knowing how the
business is doing financially is important for planning and survival.

Answer 14

Set up an accounting system or hire an accountant.

Question 15

No one will buy the products or services if customers
do not know that the company exists. You can make use of the social media.

Answer 15

Advertise the business

Question 16

Liability insurance protects the business
in the event of litigation. Consider life and disability insurance, health insurance
and fire insurance when you are leasing an office or storefront

Answer 16

Secure insurance for the business.