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Quiz 1 in FABM 1

Quiz by DELSIE ANN MANABAT

Grade 11
Fundamentals of Accountancy, Business and Management 1
Philippines Curriculum: SHS Specialized Subjects (MELC)

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7 questions
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  • Q1

    These are the obligations of the company arising from  past events which are to be settled in the future

    Equity

    Liabilities

    Assets

    Expenses

    30s
  • Q2

    Is a contra-asset account that is associated with accounts receivable and serves to reflect the true  value of accounts receivable.

    Users enter free text
    Type an Answer
    30s
  • Q3

    Refers to the money that the company earns from its regular sales of products or services. 

    Users re-arrange answers into correct order
    Jumble
    30s
  • Q4

    Except for contra-asset accounts, all asset accounts have normal balances found in the debit side.

    true
    false
    True or False
    30s
  • Q5

    Categorize the following as current assets or non-current assets.

    Users sort answers between categories
    Sorting
    30s
  • Q6

    Match the following account titles.

    Users link answers
    Linking
    30s
  • Q7

    Arrange the steps in accounting cycle

    Users link answers
    Linking
    30s

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