- 1. Business that converts raw materials into raw finished product
A) Manufacturing
B) Merchandising
C) Servicing
- 2. The most liquid asset is
A) Current assets
B) Cash
C) Liquid assets
- 3. Funds for small expenditures of the company
A) Cash on Hand
B) Petty cash fund
C) Cash fund
- 4. The core of the business that is susceptible to theft
A) Current assets
B) Petty cash fund
C) Assets/Cash
- 5. A cash evidence by a check book
A) Deposit
B) Current Deposit
C) Demand Deposit
- 6. An account that is combination of saving and demand deposit
A) Cash dividends
B) Combo account
C) Mixed account
- 7. Owners of a non-stock corporation is called
A) Members
B) Officer
- 8. Funds to maintain losses is concern to small bills
A) Chance fund
B) Change fund
C) Current fund
- 9. The money already deposited the bank is called
A) Cash on hand
B) Cash in bank
C) Cash fund
- 10. The collection waiting to be deposited the next banking day is called
A) Cash on hand
B) Cash fund
C) Cash in Bank
- 11. Who handles the petty cash
A) Petty cash custodian
B) Petty cash consultant
C) Petty cash consumer
- 12. The money deposited that earn interest which not yet use
A) Savings account
B) Current account
C) Credit accounts
- 13. The common device in handling risk is called
A) Risk management
B) Take the risk
C) Rist taker
- 14. The amount insured at PDIC is how much
A) 1m
B) 5m
C) 2m
- 15. check that are not yet encashed is called
A) Outstanding check
B) Outstanding account
C) Outstanding Performance
- 16. Business that sells goods to earn income
A) Trading transaction
B) Trading cash
C) Trading concern
- 17. Hospitals, schools and business that renders service to earn income
A) Service concern
B) Service fund
C) Service consumption
- 18. Funds to pays stockholders derived from their investment
A) Dividends
B) Dividents
C) Divided
- 19. Who can sell the share of stock
A) Shareholders
B) Share-stock
C) Shares
- 20. The check that is not yet encashed within 180 days
A) Steel check
B) Stale check
C) Stael check
- 21. Taxes and accrued wages are example of __________liabilities.
A) Accrued liabilities
B) Both
C) Current liabilities
- 22. Other name for income statement
A) Profit and Loss statement
B) Both
C) statement of revenue and expense
- 23. These represent obligation which have been incurred but not yet paid
A) Accrued expenses
B) Current expenses
C) Assets
- 24. Who handles the change fund
A) Company members
B) Company cashier
C) Cashier
- 25. What is the most destructive peril in the business and lives of people
A) Water
B) Fire
C) Air
- 26. _______ choose the interest of the owner in the company
A) Owners
B) Owners Equity
C) Equity
- 27. The quotient of two mathematical expression is called
A) Ratio
B) Non-Current ratio
C) Current Ratio
- 28. Cash and near cash are the classified as _______ assets
A) Both
B) Current Assets
C) Liquid assets
- 29. Demand deposit is evidence by
A) Check the book
B) Checking
C) Check book
- 30. The equivalent of return on investment is _
A) ROE
B) Both
C) ROA
- 31. ______ ratio is called profit margin sale
A) Profit
B) Profit net income
C) Profit to net sales
A) Equity/Capital
B) Capital
C) Equity
- 33. Is good will is saleable?
A) I don’t think so
B) Mabye
C) False
D) True
- 34. Document that measures the performance of enterprise in terms of revenue and/or expenses
A) Financial statement
B) Income statement
C) Financial management
- 35. Maintaining balance required by bank when opening an account
A) Balance sheet
B) Financial management
C) Compensation balance
- 36. Other account name for supplier credit
A) Cash
B) Account payable
C) Account receivable
- 37. The most relevant profitable ratio to stockholder concern is
A) ROA
B) ROI
C) ROE
- 38. Conditions that create or increase the chance of loss
A) Account
B) Payment
C) Hazard
- 39. ______measure the ability of the firm to pay eventually if not paid on time
A) Ratio
B) Current ratio
C) Solvency ratio
- 40. Where do you ensure your bank deposit
A) PDIC
B) MMIC
C) PCID
- 41. What ratio that measures the management effectiveness
A) Account ratio
B) Profitability ratio
C) Profit ratio
- 42. What do stockholders expect over the course of the business economic life
A) Dividends
B) Divided
C) Devidends
- 43. Ratio that measures how effectiveness the firm employs the resources
A) Active ratio
B) Acting ratio
C) Activity ratio
- 44. An account that show property and liabilities of the business
A) Balance sheet
B) Financial ratio
C) Financial statements
- 45. asset is always equal to
A) Assets
B) Equity
C) Liabilities
- 46. Gross profit is also known as
A) Gross margin
B) Gross net
C) Gross income
- 47. Good will is an example of assets.
A) Intangible assets
B) Invincible assets
C) Tangible assets
- 48. Properties owned by the business
A) Liabilities
B) Assets
C) Owners equity
- 49. Sales on credit is called _____
A) Account payable
B) Account receivable
C) Sales
- 50. Ratio that measures the net earning of every peso of sale
A) Net sales
B) Net-profit margin
C) Net income
- 51. List of asset, liabilities and equity of the business as of specific dates
A) Financial reporting
B) Financial sheet
C) Balance sheet
- 52. Movement of cash over a period of time is called
A) Cash flow
B) Cash flowing
C) Cash out
- 53. The first liquidity ratio is called
A) Current liabilities
B) Non-current ratio
C) Current ratio
- 54. If the company incurred losses where is it deducted?
A) Retained earnings
B) Return on investment
C) Retained on sales
- 55. Owner of the single proprietorship is called____
A) Solo proprietor
B) Sole proprietor
C) Single
- 56. A business organization owned by two or more person
A) Double
B) General partnerships
C) Partnership
- 57. Corporation is registered with the
A) DOH
B) BIR
C) SEC
- 58. Acid test ratio is called
A) Quick ratio
B) Current ratio
C) Ratio
- 59. Cash is value that is
A) Face cash
B) Cash value
C) Face value
- 60. Funds used to meet obligations that may arise from emergency like law suit.
A) Contingent fund
B) Current fund
C) Solvency fund
- 61. Evidences that is support by transaction
A) Receipt
B) Reciept
C) Received
- 62. Account evidence by pass book or atm?
A) Savings
B) Account on savings
C) Savings Account
- 63. A fund form by periodically setting aside money for gradual payment of dept.
A) Sinking fund
B) Seeking fund
C) Stale fund
- 64. Demand deposit also earn interest
A) True
B) Both
C) False
- 65. Check with future dates on it
A) Post check
B) Postdated check
C) Check
- 66. Is it necessary to document cash
A) Yes
B) Maybe
C) No
- 67. Check issued by post office
A) Money order
B) Checking order
C) Money checking
- 68. Post dated check is valid for how many months?
A) 6-12 months
B) 2-12 months
C) 3-6 monts
- 69. If the person received something their account is dividend
A) False
B) Both
C) True
A) Luca Pacioli
B) Luca Pacoili
C) Ben bernards
- 71. Check with insufficient fund
A) Bounced check
B) Sinking fund
C) Stale check
- 72. Debit is giver and credit is the receiver
A) TRUE
B) False
- 73. Promissory notes is supported with guarantee
A) True
B) Sometimes
C) False
- 74. An account that records event, income, expenses, gain or losses?
A) Binominal account
B) Account on Nominal
C) Nominal account
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