1. Which term refers to mathematical business decision
that makes orderly delineated sequences of mathematical operatives that leads
to a solution?
A. Conceptual model
B. Quantitative model
C. Algorithms
D. Decision
ANS: C
2. Every day we have to calculate the discounted of
shopping mall, allocate how much food and shopping and when we get a loan from
the bank we calculate the interest. This simply means we need _______ .
A. money
B. calculation
C. mathematics
D. percentage
ANS: C
3. Which is also known as Quantitative Finance that is
concerned with financial markets and taking observed market prices as inputs?
A. Mathematical in marketing
B. Mathematical finance
C. Net Income Report
D. Income statement
ANS: B
4. What financial reports reflects the net income sales?
A. Statement of Cash flow
B. Balance Sheet
C. Net income report
D. Income Statement
ANS: D
5. What is the remainder after all the expenses have been
deducted from revenues?
A. Repair income
B. Gross income
C. Net income
D. Service income
ANS: B
6. On what financial statements are assets that are used
in the operation of business found?
A. Income statement
B. Statement of owners Capital
C. Balance sheet
D. Statement of Cash low
ANS: C
7. The sum of all the expenses from the operation of the
business can be found on the ________ .
A. balance sheet
B. statement of cash flow
C. income statement
D. Statement of owners capital
ANS: C
8. To which financial reports are Liabilities and capital
added?
A. Statement of cash flow
B. Statement of owners of owners capital
C. income statement
D. Balance sheet
ANS: D
9. What financial statement shows all the received cash
from both ongoing operations and external investments sources?
A. Statement of
cash flow
B. Statement of owners of owners capital
C. income statement
D. Balance sheet
ANS: A
10. The earning power of the business firm is reported on
the __________ .
A. Balance sheet
B. income statement
C. Statement of cash flow
D. Statement of
owners of owners capital
ANS: B
11. The balance sheet provides the information about
________________ .
A. all the sales of the firm
B. all the expenses of the firm
C. list of cash received and payments of the firm
D. list of all assets of the firm
ANS: D
12. Recording the increase of income of a Computer Repair
Shop should be written on the _________ column.
A. Asset
B. Income
C. Credit
D. Debit
ANS: C
13. In journalizing the, owner’s withdrawal from his firm
should be written on the ____________.
A. capital
B. debit
C. credit
D. expenses
ANS: B
14. When a business purchased computer set worth P,
65,000.00 for the office; debit computer set, P65,000.00; credit is
__________________ .
A. Accounts payable, P 65,000.00
B. Capital, P 65,000.00
C. Computer set expenses P 65,000.00
D. Cash P 65,000.00
ANS: D
15. Ms. Alien receives her payment from tutorial of Mrs,
Yap’s son; debit cash credit, ______ .
A. payment
B. cash
C. fee
D. assets
ANS: C
16. Mr. Albert Patac bought and invested coffee Vending
Machine worth P 35,000.00. Debit machine; machine credit _______ .
A. Cash P 35,000.00
B. A Patac, capital P 35,000.00
C. Asset P 35,000.00
D. Expenses, P35,000.00
ANS: B
17. Purchased office supplies and equipment on credit
card are ________ .
A. debit office, supplies, credit cash
B. debit office supplies, credit accounts payable
C. debit office supplies and equipment, credit cash
D. debit office supplies and equipment, credit accounts
payable
ANS: D
18. To find the current liability, one must look at the
_______ .
A. mortage payable
B. loans payable
C. bonds payable
D. salaries
ANS: D
19. The resources that s firm acquires through creditors
is called ________ .
A. liability
B. capital
C. assets
D. income
ANS: A
20. Business owned that will be due not to exceed a year
is referred to as ________ .
A. current asset
B. current liability
C. fixed asset
D. fixed liability
ANS: B
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