Total Score
FIRST GRADING EXAMINATION
Fundamentals of Accountancy,
Business & Management 1 45 Items
Name:_______________________________ Year & Section:___________
Note: STRICTLY NO ERASURES OR ALTERATIONS. Answers with those are considered
wrong.
Test I. Multiple choice
Directions: Box the letter of the best answer.
1. It refers to a way of performing something.
a. Art b. Process c. System d. Liabilities
2. The records that should be kept by the business.
a. Book of accounts b. Financial Statements c. Accounting d. Trial balance
3. He is the father of modern accounting.
a. Pacioli b. Sangster c. Victoria d. Maslow
4. The process of recording “systematically” the business transactions in a
“chronological manner”.
Answer: __________________________________
5. They are the accounting technicians who have the technical skills in accounting.
Answer: _________________________________
6. A branch of accounting that deals the creation of new knowledge.
a. Accounting research b. Academe c. Public d. Accounting information
7. Firms that generally use their employees to provide intangible products or services
to customers
a. Service companies b. Manufacturing companies c. Merchandising companies
8. Refers to the financial obligations of the business.
a. Liabilities b. Assets c. Equity d. Income
9. It refers to the resources owned by the company.
a. Assets b. Liabilities c. Equity d. Expenses
10. It reflects the residual claims or net assets of the owners of an entity.
a. Equity b. assets c. Liabilities d. Income
FIRST GRADING EXAMINATION
Fundamentals of Accountancy,
Business & Management 1 45 Items
Name:_______________________________ Year & Section:___________
Note: STRICTLY NO ERASURES OR ALTERATIONS. Answers with those are considered
wrong.
Test I. Multiple choice
Directions: Box the letter of the best answer.
1. It refers to a way of performing something.
a. Art b. Process c. System d. Liabilities
2. The records that should be kept by the business.
a. Book of accounts b. Financial Statements c. Accounting d. Trial balance
3. He is the father of modern accounting.
a. Pacioli b. Sangster c. Victoria d. Maslow
4. The process of recording “systematically” the business transactions in a
“chronological manner”.
Answer: __________________________________
5. They are the accounting technicians who have the technical skills in accounting.
Answer: _________________________________
6. A branch of accounting that deals the creation of new knowledge.
a. Accounting research b. Academe c. Public d. Accounting information
7. Firms that generally use their employees to provide intangible products or services
to customers
a. Service companies b. Manufacturing companies c. Merchandising companies
8. Refers to the financial obligations of the business.
a. Liabilities b. Assets c. Equity d. Income
9. It refers to the resources owned by the company.
a. Assets b. Liabilities c. Equity d. Expenses
10. It reflects the residual claims or net assets of the owners of an entity.
a. Equity b. assets c. Liabilities d. Income
