18 Questions
What is the purpose of registering a business name under Republic Act No. 3883?
To regulate the use of names other than true names in business transactions
What is one of the benefits of registering a business?
Access to Essential Financial Services
What is the primary function of the POS Machine in a business?
To track sales and store data
What is the agency in charge of developing and monitoring cooperatives in the country?
Cooperative Development Authority
What is one of the requirements for businesses with 5 or more employees?
Securing business registration
What type of software is used for accounting business transactions, profitability, and sales?
Accounting and Inventory Software
What attracts customers who do not want to pay in cash?
Flexible payment terms
What is the main purpose of materials requisitioning?
To form part of the finished product
What is the benefit of outsourcing?
It saves the entrepreneur from buying expensive machineries
What is the purpose of a job description?
To enumerate duties and responsibilities of the potential employee
What is the purpose of employee qualifications?
To outline the educational background and work experience
What is the purpose of selecting job applicants?
To screen resumes and conduct interviews
What is the primary role of the seller in Consultative Selling?
To act as a trusted advisor to the buyer
What is the purpose of an Asset Account in bookkeeping?
To reflect the value of resources owned by a company
What is a common example of an Expense Account in bookkeeping?
Cost of Goods Sold (COGS)
What is a key importance of accounting in business?
To make informed business decisions
What is a common bookkeeping tip for small businesses?
Track expenses incurred by the business
What is the purpose of a Liability Account in bookkeeping?
To reflect the amount a company owes
Test your knowledge of the various IT systems used in business operations, including telecommunications, point of sale machines, accounting software, and website management. Learn how these technologies are used to manage sales, inventory, and profitability.
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