Quiz-fabm 1

Republic of the Philippines Department of Education Region III Division of Nueva Ecija CUYAPO NATIONAL HIGH SCHOOL Brgy. Bulala, Cuyapo, Nueva Ecija

ACCOUNTANCY, BUSINESS & MANAGEMENT 1 QUIZ No. __________ Name: _________________________________________________ Grade & Section: _______________________________________

Date: _________________ Score: ________________

Part I. MULTIPLE CHOICE: Encircle the letter of the best answer in each number. 1. The writing down of business transactions in the official book of accounts. a. Summarizing b. Interpreting c. Communicating 2. The book of final entry a. Worksheet b. Ledger

c. Journal

d. Recording

d. Special Journal

3. It is an art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are in part at least of a financial character and interpreting the result thereof. a. Taxation b. Accounting c. Bookkeeping d. Auditing 4. The initial activity or clerical part of accounting. a. Taxation b. Accounting c. Bookkeeping

d. Auditing

5. A branch of accounting which focuses on the preparation of financial reports used by the managers in their dayto-day decision-making. a. Tax Accounting b. Financial Accounting c. Cost Accounting d. Management Accounting 6. A branch of accounting primarily handling the recording of transactions of business. a. Tax Accounting b. Financial Accounting c. Cost Accounting d. Management Accounting 7. Book of original entry. a. Worksheet b. Ledger

c. Journal

8. Who is known as father of accounting? a. Lucas Asuncion b. Luca Pacioli 9. Which is not a step in the accounting process a. Identification b. Communication

d. Special Journal

c. Suetonius c. Recording

10. What profession does not use accounting information at all. a. Entrepreneur b. Economists c. Government officials II. Enumeration 1-10 Branches of Accounting 11-15 Nature of Accounting

d. Augustus d. Verification d. None of the above