Pre-Test on Basic Accounting
Quiz by Rose Darren Buenaventura
Grade 11
Fundamentals of Accountancy, Business and Management 1
Philippines Curriculum: SHS Specialized Subjects (MELC)
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Measures 4 skills fromGrade 11Fundamentals of Accountancy, Business and Management 1Philippines Curriculum: SHS Specialized Subjects (MELC)
Measures 4 skills from
Grade 11
Fundamentals of Accountancy, Business and Management 1
Philippines Curriculum: SHS Specialized Subjects (MELC)
ABM_FABM11-IIIb-c-18
ABM_FABM11-IVa-d-34
ABM_FABM11-IIIb-c-17
ABM_FABM11-IIId-e-19
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5 questions
Show answers
- Q1A business has the following items in it: Land P1,000,000, Machinery P20,000, Cash P10,000, Payables P0, Owners Equity ______________?1,000,0001,010,0001,030,0001,020,00030sABM_FABM11-IIIb-c-18
- Q2The financial statement that reports the revenues and expenses for a period of time such as a year or a month is?Balance SheetNotes to Financial StatementIncome StatementStatement of Cash Flows30sABM_FABM11-IVa-d-34
- Q3Revenues minus expenses equals ______________?AssetLiabilitiesNet LossNet Income30sABM_FABM11-IIIb-c-17
- Q4Liabilities often have the word __________ in their account title.ReceivableNotesAccountsPayable30sABM_FABM11-IIId-e-19
- Q5Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as __________.Owner's EquityLiabilitiesAssetRevenue30sABM_FABM11-IIId-e-19