1.

WHICH TERMS REFERS TO

MATHEMATICAL BUSINESS DECISIONS
THAT MAKES ORDERLY DELINEATED
SEQUENCES OF MATHEMATICAL
OPERATIVES THAT LEAD TO A
SOLUTIONS?
A. COCEPTUAL MODEL
B. QUANTITATIVE MODEL
C. ALGORITHMS
D. DECISIONS
2. EVERYDAY WE HAVE TO CALCULATE THE
DISCOUNT OF SHOPPING MALL, ALLOCATE
HOW MUCH FOR FOOD AND SHOPPING,
AND WHEN WE GET A LOAN FROM THE
BANK WE CALCULATE THE INTEREST. THAT
SIMPLY MEANS WE NEED ___.
A. MONEY
B. CALCULATION
C. MATHEMATICS
D. PERCENTAGE
3. WHICH IS ALSO KNOWN AS
QUANTITATIVE FINANCE THAT IS
CONCERNED WITH FINANCIAL MARKETS
AND TAKING OBSERVED MARKET PRICES
AS INPUTS?
A. MATHEMATICS IN MARKETING
B. MATHEMATICAL FINANCE
C. PERCENTAGE
D. CALCULATION
4. WHAT FINANCIAL REPORTS REFLECT
THE NET INCOME SALES?
A. STATEMENT OF CASH FLOW
B. BALANCE SHEET
C. NET INCOME REPORT
D. INCOME STATEMENT
5. WHAT IS THE REMAINDER AFTER
ALL THE EXPENSES HAVE BEEN
DEDUCTED FROM THE REVENUES?
A. REPAIR INCOME
B. GROSS INCOME
C. NET INCOME
D. SERVICE INCOME
6. ON WHAT FINANCIAL STATEMENTS
ARE ASSETS THAT ARE USED IN
OPERATION OF BUSINESS FOUND?
A. INCOME STATEMENT
B. STATEMENT OF OWNERS CAPITAL
C. BALANCE SHEET
D. STATEMENT OF CASH FLOW
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
8. TO WHICH FINANCIAL REPORT ARE
LIABILITIES AND CAPITAL ADDED?
A. STATEMENT OF CASH FLOW
B. STATEMENT OF OWNERS CAPITAL
C. INCOME STATEMENT
D. BALANCE SHEET
9. WHAT FINANCIAL STATEMENT
SHOWS ALL THE RECEIVED CASH
FROM BOTH ONGOING OPERATIONS
AND EXTERNAL INVESTMENT
SOURCES?
A. STATEMENT OF CASH FLOW
B. STATEMENTS OF OWNERS CAPITAL
C. INCOME STATEMENT
D. BALANCE SHEET
10. THE EARNING POWER OF THE
BUSINESS FIRM IS REPORTED ON THE
___.
A. BALANCE SHEET
B. INCOME STATEMENT
C. STATEMENT OF CASH FLOWW
D. STATEMENTS OF OWNERS CAPITAL
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 THE CASH RECEIVED AND PAYMENTS
OF THE FIRM
D. LIST OF ALL THE ASSETS OF THE FIRM
12. RECORDING THE INCREASES OF
INCOME OF A COMPUTER SHOP
SHOULD BE WRITTEN ON THE ___
COLUMN.
A. ASSETS
B. INCOME
C. CREDIT
D. DEBIT
13. IN JOURNALIZING, THE OWNER’S
WITHDRAWAL FROM HIS FIRM
SHOULD BE WRITTEN ON THE ___.
A. CAPITAL
B. DEBIT
C. CREDIT
D. EXPENSES
14. WHEN A BUSINESS PURCHASED
COMPUTER SET WORTH P65,000.00
FOR THE OFFICE; DEBIT COMPUTER
SET p65,000.00;CREDIT IS ___.
A. A/P P65,000.00
B. CAPITAL P65,000.00
C. COMPUTER SET EXPENSES P65,000.00
D. CASH, P65,000.00
15. MS. AILEEN RECEIVES HER
PAYMENT FROM TUTOTIAL OF MRS.
YAP’S SON; DEBIT, CASH; CREDIT,___.
A. PAYMENT
B. CASH
C. FEE
D. ASSET
16. MR ALBERT PATAC BOUGHT AND
INVESTED COFFEE VENDING MACHINE
WORTH P35,000.00.
DEBIT,MACHINE;CREDIT, ___.
A. CASH,P35,000.00
B. A. PATAC, CAPITAL, P35,000.00
C. ASSETS, P35,000.00
D. EXPENSES, P35,000.00
17. PURCHASED OFFICE SUPPLIES AND
EQUIPMENT ON CREDIT ARE ___.
A. DEBIT, OFFICE SUPPLIES; CREDIT, CASH
B. DEBIT OFFICE SUPPLIES; CREDIT ACCOUNT
PAYABLE
C. DEBIT OFFICE SUPPLIES AND EQUIPMENT,
CREDIT CASH
D. DEBIT OFFICE SUPPLIES AND EQUIPMENT;
CREDIT ACCOUNT PAYABLE
18. TO FIND THE CURRENT LIABILITY,
ONE MUST LOOK AT THE ___.
A. MORTAGE PAYABLE
B. LOANS PAYABLE
C. BONDS PAYABLE
D. SALARIES PAYABLE
19. THE RESOURCES THAT A FIRM
ACQUIRES TRHOUGH CREDITORS, IS
CALLED ___.
A. LIABILITY
B. CAPITAL
C. ASSETS
D. INCOME
20. BUSINESS OWED THAT WILL BE
DUE NOT TO EXCEED A YEAR IS
REFERRED TO AS ___.
A. CURRENT ASSET
B. CURRENT LIABILITY
C. FIXED ASSETS
D. FIXED LIABILITY
21. WHICH IS OWED BY THE BUSINESS
THAT REQUIRES PROMP PAYMENT?
A. NON-CURRENT LIABILITY
B. NON-CURRENT ASSET
C. CURRENT ASSET
D. CURRENT LIABILITY
22. WHICH REFERS TO BUSINESS
OBLIGATION THAT REQUIRES 15
MONTHS OF PAYMENT?
A. CURRENT LIABILITY
B. LONG-TERM LIABILITY
C. CURRENT ASSET
D. LONG-TERM ASSET
23. WHICH OF THESE TERMS BEST
APPLIES TO CURRENT ASSETS?
A. ACCOUNTS RECEIVABLE
B. ACCOUNTS PAYABLE
C. NOTES RECEIVABLE
D. NOTES PAYABLE
24. WHAT IS AN EXAMPLE OF NON-
CURRENT ASSETS?
A. PREPAID EXPENSES
B. CASH IN THE BANK
C. ACCOUNTS RECEIVABLE
D. PROPERTIES AND EQUIPMENT
25. WHAT ARE RESOURCES OWNED
FOR THE OPERATION OF THE
BUSINESS?
A. ASSETS
B. LIABILITY
C. CAPITAL
D. EXPENSES
26. SOME RESOURCES OF THE FIRM
ACQUIRED THEIR ASSETS THROUGH
OBLIGATIONS. WHAT DOES THIS
REFERS TO?
A. EXPENSES
B. ASSETS
C. LIABILITY
D. CAPITAL
27. AFTER A MONTH, MR. PATAC WAS ABLE
TO GET ALL THE COINS HE EARNED FROM
HIS COFFEE VENDING MACHINE WORTH
P11,755.00 AND PAID HIS WATER BILL
P750.00 AND ELECTRICITY P1,300.00. HOW
MUCH IS MR. PATAC’S GROSS SALES?
A. P 9,705.00
B. P10,455.00
C. P11,755.00
D. 11,005.00
28. HOW MUCH IS THE NET SALES OF
MR. PATAC AFTER A MONTH OF HIS
BUSINESS?
A. P11,005.00
B. P10,455.00
C. P9,705.00
D. P11,755.00
29. MR. BOUGHT MOTORCYCLE WORTH
P72,000.00 TO MONITOR HIS EXPANDING
COFFEE VENDING MACHINE BUSINESS.
AFTER FIVE(5) YEARS, THE SAID
MOTORCYCLE WILL BECOME P15,000.00 IN
VALUE. HOW MUCH IS HE GOING TO SET
ASIDE PER MONTH FOR DEPRECIATION?
A. P57,000.00
B. P11,400.00
C. P950.00
D. P850.00
30. GIVING 10% DEPRECIATION FOR
THE 5 ADDITIONAL UNITS OF COFFEE
VENDING MACHINE THAT IS WORTH
P35,000.00 EACH, HOW MUCH IS THE
DEPRECIATION COST OF EACH
MACHINE?
A. P17,500.00
B. P3,500.00
C. P 4,250.00
D. P1,750.00
31. WHAT IS THE TERMS THAT BEST
DESCRIBES THE TOTAL OF CASH, PLUS
PURCHASES, PLUS THE COSTUMERS
OBLIGATION TO THE BUSINESS?
A. ASSETS
B. INVENTORY
C. PROFIT
D. LIABILITY
32. WHICH TERMS REFERS TO GROSS
INCREASES IN OWNER’S EQUITY
ARISING FROM THE INCREASE IN
ASSETS RECEIVED IN EXCHANGE FOR
THE DELIVERY OF GOODS OR SERVICES
TO COSTUMERS?
A. ASSETS
B. LIABILITY
C. INCOME
D. EXPENSES
33. WHICH TERMS REFERS TO
DECREASES IN OWNER’S EQUITY THAT
INCREASES BECAUSE GOODS OR
SERVICES ARE DELIVERED TO
COSTUMERS?
A. PROFIT
B. EXPENSES
C. EARNINGS
D. REVENUE