Quizalize logo
placeholder image to represent content

FABM1 Q2 MODULE 1-4

Quiz by Michelle Miles D. Torregosa

Grade 11
Fundamentals of Accountancy, Business and Management 1
Philippines Curriculum: SHS Specialized Subjects (MELC)

Feel free to use or edit a copy

includes Teacher and Student dashboards

Measure skills
from any curriculum

Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.

With a free account, teachers can
  • edit the questions
  • save a copy for later
  • start a class game
  • automatically assign follow-up activities based on students’ scores
  • assign as homework
  • share a link with colleagues
  • print as a bubble sheet

Our brand new solo games combine with your quiz, on the same screen

Correct quiz answers unlock more play!

New Quizalize solo game modes
35 questions
Show answers
  • Q1
    Arrange the following based on the accounting cycle that you have learned from the previous quarter. (adjusting entries, closing the books, financial statements, journalizing, posting, transactions, trial balance, worksheet). Example 1. Transaction 2. ____ 3. ______ 4.____ and so on
    1. Transactions 2. Journalizing 3. Posting 4. Trial Balance 5. Worksheet 6. Adjusting Entries 7. Financial Statements 8. Closing the books.
    200s
  • Q2
    It is an adjustment that is applicable to tangible non-current assets or to property, plant and equipment (except Land)
    Accruals
    Deferrals
    Doubtful accounts
    Depreciation
    150s
  • Q3
    A financial statement that provides an analysis of inflows and/or outflows of cash from/to operating, investing and financing activities.
    SFP
    SCE
    CFS
    SCI
    150s
  • Q4
    Which of the following is not a nominal or temporary accounts?
    Withdrawal
    expense
    income
    owner’s equity
    150s
  • Q5
    The recording of transactions into the book of original entry is called ___________-
    Journalizing
    150s
  • Q6
    The process of transferring similar accounts to the book of final entry.
    Posting
    150s
  • Q7
    It is prepared after the preparation of the unadjusted trial balance, it is needed to arrange all the accounting information required at the end of a period.
    Adjusting Entries
    Adjusted Trial Balance
    Worksheet
    Closing Entries
    150s
  • Q8
    it is used to bring the accounts up to date which is needed and must be done at the end of the accounting period.
    Posting
    Adjusting Entries
    Journalizing
    Closing Entries
    150s
  • Q9
    Deferrals are adjusting entries containing accrued revenues and accrued expenses while Accruals are adjusting entries containing unearned revenues and prepaid expenses.
    FALSE
    TRUE
    90s
  • Q10
    This is an income already earned but not yet received in cash as of the end of the year.
    Accrued Income
    Prepaid Expense
    Accrued Expense
    Unearned Income
    150s
  • Q11
    Expense already incurred but not yet paid in cash nor recorded.
    Prepaid Expense
    Accrued Expense
    Accrued Income
    Unearned Income
    150s
  • Q12
    Expense paid in advance.
    Unearned Income
    Accrued Income
    Prepaid Expense
    Accrued Expense
    150s
  • Q13
    If the cost of an equipment is 150,000.00, its scrap value is 10,000.00 and has an estimated useful life of 5 years. How much is its annual accumulated depreciation and deprecriation expense?
    28,000.00
    2,333.33
    10,000.00
    150,000.00
    150s
  • Q14
    It is the value of the asset at the end of its useful life (residual or scrap value)
    Acquisition Cost
    Estimated Cost
    Depreciation Cost
    Salvage Vallue
    150s
  • Q15
    An expense that refers to the portion of accounts receivable that is in doubt of being collected.
    Accrued Expense
    Depreciation Expense
    Prepaid Expense
    Doubtful Account Expense
    150s

Teachers give this quiz to your class