FABM1_Pretest2_M4
Quiz by Rosalinda Ruiz
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measures 1 skill fromGrade 11Fundamentals of Accountancy, Business and Management 1Philippines Curriculum: SHS Specialized Subjects (MELC)
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- Q1
Are resources controlled by the business as a result of past transactions and provide you with future economic benefits
Capital
Liabilities
Asset
30sABM_FABM11-IIId-e-19 - Q2
Are present obligations of an entity arising from past transactions or events.
Liabilities
Asset
Capital
30sABM_FABM11-IIId-e-19 - Q3
Is the residual amount after deducting liabilities from assets.
Asset
Capital (Proprietorship)
Liabilities
30sABM_FABM11-IIId-e-19 - Q4
Revenues earned from the business, professional fees and and services.
Liabilities
Income
Asset
30sABM_FABM11-IIId-e-19 - Q5
Are decreases in economic benefits during the period in the form of outflows or depletions of assets or increases of liabilities that result in decreased equity
Liabilities
Income
Expense
30sABM_FABM11-IIId-e-19