LET: TLE Part 14

This is the Multiples Choice Questions Part 14 of TLE. In preparation for the LET Exam, practice, and familiarize every question we have, it might be included in the actual examination. Good luck.

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TLE Part 14

1. Which is owned by the business that requires prompt payment?

a. Non-current liability

b. Non-current asset

c. fixed asset

c. fixed  liability

Answer: b

2. Which refers to a business obligation that requires 15 months of payment?

a. Current liability

b. long-term liability

c. current asset

d. current liability

Answer: b

3. Which of these terms best applies o current asset?

a. Account receivable

b. Account payable

c. Notes receivable

d. Notes payable

Answer: a

4. What is an example of non-current assets?

a. Prepaid expenses

b. Cash in the bank

c. Accounts receivable

d. Properties and equipment

Answer: d

5. What are resources owned for the operation of the business?

a. assets

b. liability

c. capital

d. expenses

Answer: a

6. Some resources of the firm acquired their asset through obligation. What does this refer to?

a. Expenses

b. Assets

c. Liability

d. Capital

Answer: c

7. After a month, Mr. Patac was able to get all coins he learned from his coffee vending machine worth P11,755.00 and paid his water bill P750.00 and electricity P1,300.00.

a. P9,705.00

b. P10,455.00

c. P10,455.00

d. P11,005.00

Answer: c

8. How much is the net sales of Mr. Patac after a month of his business?

a. P 11,005.00

b. P 10,455.00

c. P9,705.00

d. P11,755.00

Answer: d

9. Mr. patac bought motorcycle worth P72,000.00 to monitor his expanding coffee vending machine business. After five (5) years, the said motorcycle will become P15,000.00 value. How much is he going to set aside per month for depreciation?

a. P57,000.00

b. P11,400.00

c. P950.00

d. P850.00

Answer: b

10. Giving 10% depreciation for the 5 additional units of coffee vending machine that is worth P35,000.00 each. How much is the depreciation cost of each machine?

a. P17,000.00

b. P3,500.00

c. P4,250.00

d. P1,740.00

Answer: d

11. What is the term that describes the total of cash, plus purchase, plus the customer obligation to the business?

a. Assets

b. Inventory

c. Profit

d. Liability

Answer: b

12. Which term refers to gross increase in owner’s equity arising from increase in assets received in exchange for the delivery of goods or services to customers?

a. Assets

b. liability

c. Income

d. Expenses

Answer: c

13. Which term refers to decrease in owner’s equity that increase because goods or service are delivered to customers?

a. Profit

b. Expenses

c. Earnings

d. Revenue

Answer: d

14. Which is considered to be the best way to assess entrepreneurial project or business ventures?

a. environment analysis

b. SWOT analysis

c. competition analysis

d. PEST analysis

Answer: b

15. An analysis that provides the details for opportunities and threats of a business to make batter decision regarding marketing plan is termed ______>

a. environmental analysis

b. SWOT analysis

c.  competition analysis

d. PEST analysis

Answer: a

16. The acronym SWOT stands for ______.

a. Strengths-Weaknesses-Option-Threats

b. Strengths-Weaknesses-Opportunity-Testing

c. Strengths-Weaknesses-Operations-Tactics

d. Strengths-Weakness-Opportunities-Treats

Answer: d

17. Which question is asked at the first stage in the marketing planning process of an enterprise?

a. Where are we now?

b. Where are we heading?

c. Are we on course?

d. Where would we like to be?

Answer: a

18. Which of these stages is the final stage in the marketing planning process flow chart?

a. Control

b. Marketing planning

c. Setting marketing objectives

d. Setting the product price

Answer: a

19. An entrepreneur might select a target market probably because the target market ______.

a. is attractive to the business and matches its supply capabilities

b. is large and well-served with existing products

c. is fully understood by the entrepreneur

d. has a proven track record for buying product

Answer: a

20. A carefully thought structured formal commercial report that is extraordinary written to safe any wastage of further investments project is called ________.

a. portfolio

b. business plan

c. resume

d. feasibility

Answer: d