FINALS IN FABM II
Quiz by ANDREA MARIE ALDUEZA
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50 questions
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- Q1From an average collection period of 207 days, it went down to 202 days in 2016.This is something bad from a liquidity stand point.All are correctThis is something good from a liquidity stand point.This data has no implication on the liquidity status of the company.30s
- Q2This is the entity’s ability to meet long term obligations as they become due.None of the aboveLiquiditySolvencyProfitability30s
- Q3If the net income after tax of the company is P4,000,000, starting balance of assets is P500,000 and the ending balance of assets is P700,000, what is the return on assets?83.33335.716.666730s
- Q4The time interest earned ratio for 2015 is 10. It went up to 12 during 2016This is something bad from a liquidity stand point.This data has no implication on the liquidity status of the company.All are correctThis is something good from a solvency stand point.30s
- Q5Interest expense for the year amounted to P90,000. Income tax expense is P100,000. If net income after tax is P620,000, what is the times interest earned ratio?6.8886.2P720,000930s
- Q6What makes journal different from general ledger?Journal has debit and credit column while ledger has none.Journal records chronological order of transactions while ledger classifies accounts.Journal shows dates of transaction while ledger shows balances of accountsThere is no difference from journal and ledger.30s
- Q7Mr. Magno Manuel usually pays his bills through issuing a check. What type of account does Mr. Magno keeps?credit cardchecking accountsavings accounttime deposit30s
- Q8What makes savings account different from a checking account?Savings account and checking accounts are similar.Saving account has higher interest than checking account.Savings account is for emergency expenses while checking is for leisure expenses.Savings account is used for payments while checking is used for accumulation of cash.30s
- Q9Which of the following shows the proper step in filling out a deposit slip?write date/account holder/account number/amount to be deposit/signaturewrite date/account number/signature/amount/account holderwrite amount/account number/account number/date/signaturewrite signature/account holder/account number/amount/date30s
- Q10It is an instrument issued by a person in payment for goods and services acquired.checkcashpromissory notedeposit slip30s
- Q11How does two million sixty-seven thousand fifty-four pesos be written in figures?P2,607,504P2,076,045P2,067,554P2,067,05430s
- Q12It is an account established for safekeeping your money.checking accountsavings accounttime depositwithdrawal sip30s
- Q13This check is past 6 months or 180 days from the date of issuance.stale checkexpired checkcrossed checkincorrect check30s
- Q14What is the standard check dimension or check size in Philippine banking system?8x8 inches8x5 inches8x3 inches8x4 inches30s
- Q15It is an instrument issued by a person for his/her payment in the purchase of goods or services.checkdeposit slippassbooksavings30s