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8 questions
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  • Q1
    1. The beginning capital of Jadine Trading is P728,000. During the year the owner made an additional investment of P20,000 and withdrew P35,000 for personal use. Net income during the year amounted to P45,000. What is the amount of the owner’s equity in the statement of financial position?
    P748,000
    P713,000
    P728,000
    P758,000
    120s
    BM_FABM12-Ie-9
  • Q2
    2. Which of the following is a real account?
    Service Revenue
    Cost of Goods Sold
    Cash
    Loans Payable
    Compensation Expense
    Prepaid Expenses
    120s
    ABM_FABM12- Ia-b-1
  • Q3
    3. Notes to Financial Statements is one of the company's communication of financial information to people outside of the company.
    Neutral
    Strongly Agree
    Agree
    Strongly Disagree
    Disagree
    120s
    ABM_FABM12- Ia-b-1
  • Q4
    4. Who is the payee on the written check on this image?
    Question Image
    Lino Co
    Tina Go
    120s
    ABM_FABM12- IIc-8
  • Q5
    5. Which of the following is NOT considered as a type of bank documents?
    Answer Image
    Answer Image
    Answer Image
    Answer Image
    120s
  • Q6
    6. It is the party that has been directed by the depositor to pay a certain sum of money to the person presenting the check.
    Users re-arrange answers into correct order
    Jumble
    120s
    ABM_FABM12- IIc-8
  • Q7
    7. What is the correct order of the following assets on Balance Sheet?
    Users re-arrange answers into correct order
    Jumble
    120s
    ABM_FABM12- Ia-b-1
  • Q8
    8. Amounts earned by a company in its main operating activities are called gains.
    false
    true
    True or False
    120s
    ABM_FABM12- Ic-d-5

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