- 1. Business that converts raw materials into raw finished product
A) Manufacturing
B) Merchandising
C) Servicing
- 2. The most liquid asset is
A) Current assets
B) Liquid assets
C) Cash
- 3. Funds for small expenditures of the company
A) Petty cash fund
B) Cash fund
C) Cash on Hand
- 4. The core of the business that is susceptible to theft
A) Assets/Cash
B) Petty cash fund
C) Current assets
- 5. A cash evidence by a check book
A) Current Deposit
B) Demand Deposit
C) Deposit
- 6. An account that is combination of saving and demand deposit
A) Combo account
B) Cash dividends
C) Mixed account
- 7. Owners of a non-stock corporation is called
A) Officer
B) Members
- 8. Funds to maintain losses is concern to small bills
A) Current fund
B) Change fund
C) Chance fund
- 9. The money already deposited the bank is called
A) Cash fund
B) Cash on hand
C) Cash in bank
- 10. The collection waiting to be deposited the next banking day is called
A) Cash in Bank
B) Cash fund
C) Cash on hand
- 11. Who handles the petty cash
A) Petty cash custodian
B) Petty cash consumer
C) Petty cash consultant
- 12. The money deposited that earn interest which not yet use
A) Savings account
B) Current account
C) Credit accounts
- 13. The common device in handling risk is called
A) Rist taker
B) Take the risk
C) Risk management
- 14. The amount insured at PDIC is how much
A) 5m
B) 2m
C) 1m
- 15. check that are not yet encashed is called
A) Outstanding check
B) Outstanding account
C) Outstanding Performance
- 16. Business that sells goods to earn income
A) Trading concern
B) Trading transaction
C) Trading cash
- 17. Hospitals, schools and business that renders service to earn income
A) Service concern
B) Service consumption
C) Service fund
- 18. Funds to pays stockholders derived from their investment
A) Dividends
B) Divided
C) Dividents
- 19. Who can sell the share of stock
A) Shareholders
B) Share-stock
C) Shares
- 20. The check that is not yet encashed within 180 days
A) Steel check
B) Stael check
C) Stale check
- 21. Taxes and accrued wages are example of __________liabilities.
A) Accrued liabilities
B) Both
C) Current liabilities
- 22. Other name for income statement
A) statement of revenue and expense
B) Both
C) Profit and Loss statement
- 23. These represent obligation which have been incurred but not yet paid
A) Accrued expenses
B) Current expenses
C) Assets
- 24. Who handles the change fund
A) Company members
B) Company cashier
C) Cashier
- 25. What is the most destructive peril in the business and lives of people
A) Water
B) Air
C) Fire
- 26. _______ choose the interest of the owner in the company
A) Owners
B) Owners Equity
C) Equity
- 27. The quotient of two mathematical expression is called
A) Ratio
B) Current Ratio
C) Non-Current ratio
- 28. Cash and near cash are the classified as _______ assets
A) Liquid assets
B) Both
C) Current Assets
- 29. Demand deposit is evidence by
A) Checking
B) Check book
C) Check the book
- 30. The equivalent of return on investment is _
A) Both
B) ROA
C) ROE
- 31. ______ ratio is called profit margin sale
A) Profit to net sales
B) Profit net income
C) Profit
A) Capital
B) Equity/Capital
C) Equity
- 33. Is good will is saleable?
A) False
B) Mabye
C) True
D) I don’t think so
- 34. Document that measures the performance of enterprise in terms of revenue and/or expenses
A) Income statement
B) Financial statement
C) Financial management
- 35. Maintaining balance required by bank when opening an account
A) Financial management
B) Compensation balance
C) Balance sheet
- 36. Other account name for supplier credit
A) Cash
B) Account receivable
C) Account payable
- 37. The most relevant profitable ratio to stockholder concern is
A) ROI
B) ROE
C) ROA
- 38. Conditions that create or increase the chance of loss
A) Hazard
B) Payment
C) Account
- 39. ______measure the ability of the firm to pay eventually if not paid on time
A) Ratio
B) Solvency ratio
C) Current ratio
- 40. Where do you ensure your bank deposit
A) PCID
B) PDIC
C) MMIC
- 41. What ratio that measures the management effectiveness
A) Profit ratio
B) Account ratio
C) Profitability ratio
- 42. What do stockholders expect over the course of the business economic life
A) Dividends
B) Divided
C) Devidends
- 43. Ratio that measures how effectiveness the firm employs the resources
A) Active ratio
B) Activity ratio
C) Acting ratio
- 44. An account that show property and liabilities of the business
A) Financial ratio
B) Financial statements
C) Balance sheet
- 45. asset is always equal to
A) Assets
B) Equity
C) Liabilities
- 46. Gross profit is also known as
A) Gross income
B) Gross net
C) Gross margin
- 47. Good will is an example of assets.
A) Invincible assets
B) Tangible assets
C) Intangible assets
- 48. Properties owned by the business
A) Assets
B) Owners equity
C) Liabilities
- 49. Sales on credit is called _____
A) Account receivable
B) Sales
C) Account payable
- 50. Ratio that measures the net earning of every peso of sale
A) Net sales
B) Net-profit margin
C) Net income
- 51. List of asset, liabilities and equity of the business as of specific dates
A) Financial sheet
B) Balance sheet
C) Financial reporting
- 52. Movement of cash over a period of time is called
A) Cash flow
B) Cash out
C) Cash flowing
- 53. The first liquidity ratio is called
A) Non-current ratio
B) Current liabilities
C) Current ratio
- 54. If the company incurred losses where is it deducted?
A) Retained on sales
B) Return on investment
C) Retained earnings
- 55. Owner of the single proprietorship is called____
A) Single
B) Sole proprietor
C) Solo proprietor
- 56. A business organization owned by two or more person
A) Partnership
B) General partnerships
C) Double
- 57. Corporation is registered with the
A) DOH
B) SEC
C) BIR
- 58. Acid test ratio is called
A) Current ratio
B) Ratio
C) Quick ratio
- 59. Cash is value that is
A) Face cash
B) Cash value
C) Face value
- 60. Funds used to meet obligations that may arise from emergency like law suit.
A) Solvency fund
B) Contingent fund
C) Current fund
- 61. Evidences that is support by transaction
A) Reciept
B) Receipt
C) Received
- 62. Account evidence by pass book or atm?
A) Account on savings
B) Savings
C) Savings Account
- 63. A fund form by periodically setting aside money for gradual payment of dept.
A) Sinking fund
B) Seeking fund
C) Stale fund
- 64. Demand deposit also earn interest
A) False
B) True
C) Both
- 65. Check with future dates on it
A) Check
B) Postdated check
C) Post check
- 66. Is it necessary to document cash
A) Maybe
B) No
C) Yes
- 67. Check issued by post office
A) Money order
B) Checking order
C) Money checking
- 68. Post dated check is valid for how many months?
A) 3-6 monts
B) 2-12 months
C) 6-12 months
- 69. If the person received something their account is dividend
A) Both
B) False
C) True
A) Luca Pacoili
B) Ben bernards
C) Luca Pacioli
- 71. Check with insufficient fund
A) Stale check
B) Sinking fund
C) Bounced check
- 72. Debit is giver and credit is the receiver
A) TRUE
B) False
- 73. Promissory notes is supported with guarantee
A) Sometimes
B) False
C) True
- 74. An account that records event, income, expenses, gain or losses?
A) Account on Nominal
B) Nominal account
C) Binominal account
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