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FINALS IN FABM II

Quiz by ANDREA MARIE ALDUEZA

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50 questions
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  • Q1
    From 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 correct
    This is something good from a liquidity stand point.
    This data has no implication on the liquidity status of the company.
    30s
  • Q2
    This is the entity’s ability to meet long term obligations as they become due.
    None of the above
    Liquidity
    Solvency
    Profitability
    30s
  • Q3
    If 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?
    8
    3.3333
    5.71
    6.6667
    30s
  • Q4
    The time interest earned ratio for 2015 is 10. It went up to 12 during 2016
    This is something bad from a liquidity stand point.
    This data has no implication on the liquidity status of the company.
    All are correct
    This is something good from a solvency stand point.
    30s
  • Q5
    Interest 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?
    6.888
    6.2
    P720,000
    9
    30s
  • Q6
    What 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 accounts
    There is no difference from journal and ledger.
    30s
  • Q7
    Mr. Magno Manuel usually pays his bills through issuing a check. What type of account does Mr. Magno keeps?
    credit card
    checking account
    savings account
    time deposit
    30s
  • Q8
    What 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
  • Q9
    Which of the following shows the proper step in filling out a deposit slip?
    write date/account holder/account number/amount to be deposit/signature
    write date/account number/signature/amount/account holder
    write amount/account number/account number/date/signature
    write signature/account holder/account number/amount/date
    30s
  • Q10
    It is an instrument issued by a person in payment for goods and services acquired.
    check
    cash
    promissory note
    deposit slip
    30s
  • Q11
    How does two million sixty-seven thousand fifty-four pesos be written in figures?
    P2,607,504
    P2,076,045
    P2,067,554
    P2,067,054
    30s
  • Q12
    It is an account established for safekeeping your money.
    checking account
    savings account
    time deposit
    withdrawal sip
    30s
  • Q13
    This check is past 6 months or 180 days from the date of issuance.
    stale check
    expired check
    crossed check
    incorrect check
    30s
  • Q14
    What is the standard check dimension or check size in Philippine banking system?
    8x8 inches
    8x5 inches
    8x3 inches
    8x4 inches
    30s
  • Q15
    It is an instrument issued by a person for his/her payment in the purchase of goods or services.
    check
    deposit slip
    passbook
    savings
    30s

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