Quiz No. 1 (Quarter 1)

The summarizing phase is accomplished by

• classifying items

• preparing financial statements

• processing data

• storing records

The information age is best associated with

• a shift from traditional to modern technology

• barter system

• double-entry bookkeeping

• transition period from hand production to factory system

Which of the following best describes the work of a bookkeeper?

• analyzes financial statements

• interprets the meaning of the records

• records and process data

• renders auditing service

Sole Proprietorship, Partnership, Corporation and Cooperatives are classified as business organization according to

• operation

• outcome

• output

• ownership

Drugstores, groceries, boutiques fall under _____ business.

• Hybrid

• Manufacturing

• Merchandising

• Service

It is a business organization categorized as a separate legal entity.

• Corporation

• Cooperative

• Partnership

• Sole-Proprietorship

The following falls under manufacturing business except

• Procter and Gamble

• Universal Robina

• San Miguel Corporation

• Super 8

It is the language of the business.

• Accounting

• Bookkeeping

• Classifying

• Interpreting

The definition of Partnership is under

• Article 1767 Civil Code of the Philippines

• Article 1676 Civil Code of the Philippines

• Article 1776 Civil Code of the Philippines

• Article 1757 Civil Code of the Philippines

It is where partnership and corporation is being registered.

• DTI

• CDA

• SEC

• BIR