Entrepreneurship and Business Planning

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10 Questions

What is the primary purpose of registering with the Securities and Exchange Commission (SEC)?

To register a partnership or corporation

What is the purpose of registering with the Bureau of Internal Revenue (BIR)?

To get a Tax Identification Number (TIN) and official receipts and invoices

What is one of the benefits of keeping good business records?

It helps to measure performance and maximize profit

What is one of the steps to follow before operating a business?

Set up an accounting system or hire an accountant

What is the purpose of registering with SSS, PhilHealth, and Pag-Ibig Fund?

To register as an employer and remit employee contributions

What is the primary purpose of having objectives in business?

To define the purpose of the enterprise

What is crucial for an entrepreneur to accomplish tasks effectively?

Creating a timetable for tasks

Why is it essential to keep accurate business records?

To value the importance of business transactions

What is necessary for an entrepreneur to assess the success of their business?

Monitoring progress regularly

What is a key aspect of implementing a successful business plan?

Setting clear objectives

Learn about the importance of keeping accurate business records, preparing an income statement, and implementing a successful business plan. Understand the objectives and guidelines for a successful entrepreneurship venture.

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