1. ______________ is the process of IDENTIFYING, RECORDING, and COMMUNICATING economic events of an organization to interested users.
Elective 1 (Bookkeeping) Pre-Test

Quiz
•
Business
•
12th Grade
•
Medium
roldan gastardo
Used 11+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounting
Management
Bookkeeping
Accountant
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. The accounting guideline that requires financial statement information to be supported by independent, unbiased evidence other than someone's belief or opinion is the _____ principle.
Business Entity
Monieary unit
Cost
Objectivity
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The statement of financial position of a company included an equipment purchased from Japan for 3. 350,000 yen. It was reported at that amount in the statement of financial position while all the other assets were reported in Philippine pesos. What principle is being violated?
Time Period
Materiality
Monetary Unit
Objectivity
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. It is the obligations of the company payable in money, goods or services.
Liability
Intangible Assets
Owner's Equity
Cash
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5. These assets are identifiable, non-monetary assets without physical substance.
Liability
Intangible Assets
Owner's Equity
Cash
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. It is the most liquid asset and is the medium of exchange for business transactions.
Liability
Intangible Assets
Owner's Equity
Cash
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7. It is the claim of the owner also known as the capital.
Liability
Intangible Assets
Owner's Equity
Cash
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