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