Republic of the Philippines

DEPARMENT OF EDUCATION
Regional Office VIII

Fundamental Accountancy, Business and Management II

NAME:_______________________________________ Yr.&Sec.____________________ Rating: __________

Teacher:______________________________________Date:_______________________Score: ___________

I- Choose the letter of the best answer. Write the chosen letter on a separate sheet of paper.

1.) What is Statement Financial Position?

a.) Statement that shows the Financial Position or Condition of an entity by listing the Assets, Liabilities
and Owner’s Equity as at a specific date.
b.) Is the act of happening
c.) Collection of business documents as transaction occurred
d.) It is the Inflow of the Company

2.) Which of the following gives the correct sequence of accounting procedures?
a. Ledger, trial balance, journal, financial statements
b. Journal, ledger, trial balance, financial statement
c. Financial statement, trial balance, ledger, journal
d. Financial Statements, journal, ledger, trial balance

3.) Posting is performed by transferring information from the

a. Source documents to the journal
b. Ledger to the journal
c. Source documents to the ledger
d. Journal to the ledger
4.) Transaction are recorded chronologically in the
a. Ledger
b. T-account
c. Daybook
d. Journal
5.) The following can be found in an income statement except
a.) Asset
b.) Expenses
c.) Profit and loss
d.) Income

II. Effects in the basic Accounting Model (Increase or Decrease)

Transaction A L OE

A Bought equipment, paying cash.

B Paid the monthly rent expense.
C Purchase supplies on credit
D Made an additional investment in
the company
E Charged customer of services
provided on account
F Paid creditor on account
G Received payment from customer
on account
H Received cash for services
rendered today

Announcement:

Deadline of submission of exam online through Messenger is on MONDAY 6:00PM ONLY (October 25,
2021).Failure to submit on time will take another set of exam.
CLEAR PICTURE OF ANSWER SHEET.(1 PC OF YELLOW PAPER).
Deadline of submission of Hard Copy is on Friday (October 29, 2021)

GODBLESS & GOODLUCK!!!!