A kind of business or company where it focuses on selling goods like school supplies, vegetables and etc.

It is the total income returned by an investment / business.

It is an expenditure.

These are goods which was given back to the you (as the seller) because it is damaged.

It is a price reduction for the goods being sold.

A kind of business or company which is focused on providing work like offering repairs

and maintenance.

It is a decrease which is unrecoverable and unanticipated in a resource or asset outside of normal business operations.

The difference between what a merchant invests into business and what he receives in return.

It is the net amount of funds invested in a business by its owners, plus any retained earnings (Bragg, S. 2020).

It is an expense which refers to the total cost of using rental property for each reporting

period.

It refers to all the items, goods, merchandise, and materials held by a business for selling

in the market to earn a profit.

It is the cost incurred by using utilities such as electricity, water, waste disposal,heating,

and sewage.

It is the business entity’s Net sales minus cost of goods sold, and expenses. This is

usually represented as apositive increase resulted from the business operations for a

given accounting period

It is a negative result in the statement of comprehensive income

It is one of the formats used in making the statement of comprehensive income which

uses three different accounting formulas to arrive at the net income.

A statement of financial position can be best described as a:

An asset is an

The statement of Financial Position is:

MN Mitz have assets ofPhp130,000.00, liabilities of Php 90,000: as such the owners’

equity will be:

What is a financial statement that shows the financial position of an enterprise at a

particular point in time?

A Statement of Financial Position

Which of the following transactions would increase cash as well as non-current liabilities?

Which of the following accounts is a current asset?

Which of the following accounts is a non-current asset?

Which of the following accounts is a current liability?

Purchased supplies on account, P900. Indicate the effect on the accounting equation.

Is the list of finished goods or goods used in production held by a company.

Provide services rather than products to customers

Also known as the “language of business”.

Mar-mar’s Eatery has assets of P800,000.00 and Owner’s Equity of P450,000.00. Using

the accounting equation ,determine the Liabilities:

This ratio measures the frequency of conversion of the company’s Accounts Receivable

to Cash.

This ratio measures the number of times the company was able to sell its entire

inventory to customers during the year.

This shows the proportion between the Earnings Before Interest and Taxes (EBIT) of

the company and its interest expense.

this ratio measures the correlation between the assets owned by the company and the

net sales generated by such properties.

This is the proportion of the gross profit of the company with its net sales.

this refers to both an enterprise’s ability to pay short-term obligations and a

company’s capability to sell assets quickly to raise cash.

It refers to a company’s ability to meet long-term obligations.

This ratios measure a company’s ability to generate profits from its resources (assets).

it is the long-term counterpart of liquidity.

Which of the following categories of ratios could be used to evaluate a company’s ability to pay back a bank loan?

 _____________ is an account that decreases owner’s equity by withdrawing assets by the

owner.

The heading of the financial statements includes _______________.

Which is not a part of the Statement of Changes in Equity?

This statement is prepared prior to the preparation of the Statement of Financial Position to

be able to obtain the ending balance of the capital to be used in the SFP.

Which of the following assets will not depreciate?

Why is Cash Flow Statement important?

This method of CFS will show each major class of gross cash receipts and gross cash

payments.

Ana is about to start a printing business and is planning to have a beginning capital of

P200,000. February 1, she invested P50,000 for her to use in the processing of documents

for her upcoming business. In this scenario, how much is her initial investment?

This is an entity whose assets, liabilities, income and expenses are centered or owned by

only one person.

A business that is owned by two or more owners.