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ENTREPRENEURSHIP_QIV_WEEK9.pdf - Grade 12 Self-Learning...

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Self-Learning Module inENTREPRENEURSHIPLesson:Manifest understanding of starting and operating a simple business: Identifywhere there is a profit or loss for a businessQuarter:IVWeek:9Day andTime:See Class programLearning competency/ies:Identify where there is profit or loss for a business.Learn how a profit and loss statement is structured and how to manage itLearning Tasks:I. INTRODUCTIONHow do you measure the success of a business? Is it by employee’s happiness at work? Customer’s satisfaction?All of those are significant aspects, but the most important is your company’s profit and loss.In preparing a financial record of a company at every accounting period, a financial statement is utilize as a keyindicator on the health of a certain business.Many entrepreneurs find it challenging for management tools until theyunderstand how to interpret them.The fundamental success of a company depends on a thorough understanding of thisprocess.II. PRE-TESTDirection:In the box are the definitions of some words use in this lesson.Read each problem carefully.Use thedefinitions to answer the questions ask in each number and write it in a separate sheet of paper.Cost pricethe amount paid to purchase an itemSelling price: - amount of an item soldProfitamount of money earned from the resaleLoss- amount of money lost from the resaleprofit/lossPercentage of Profit and Loss(%)x100costRound off the answers to one decimal place only.1.Mangoes are bought by a fruit stand for Php. 40.00 per kilo and resold atPhp.55.00 per kilo.a.What is the cost price? ____________________________________________________b.What is the selling price?_________________________________________________c.Does the product make a profit or loss?By how much? ____________________d.Calculate the percentage profit/loss on the cost price. ______________________2.Celine makes school uniform which costs Php.60.00 per a girl’s fashion skirt. She then sells them forPhp.90 each.a.What is the cost price? ____________________________________________________b.What is the selling price?_________________________________________________c.Did Celine make a profit or loss?By how much? ___________________________d.Calculate the percentage profit/loss on the cost price. _______________________Study NotebookActivity SheetPre-Test, pp. 1-2Post-Test, pp. 5-6Test I- III pp. 7-812Grade
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Term
Spring
Professor
N/A
Tags
Revenue, Generally Accepted Accounting Principles, Goods Sold

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