Ciestefiel Ann S.

Lolo
Grade 12 ABM /GATES

FUNDAMENTALS OF ACCOUNTANCY
Business and Management II
Quarter 1 – Module 2

Elements of the Statement of

Comprehensive Income

PRE-TEST

1.A

2.C

3.B

4.B

5.C

6.C

7.A

8.A

9.C

10.D

11.A

12.A

13.C

14.B
15.D

ANALYSIS

1. Science is important because it influences most aspects of everyday life, including food,
energy, medicine, transportation, leisure activities and more. Science improves human life
at every level, from individual comfort to global issues.

2. Science generates solutions for everyday life and helps us to answer the great mysteries
of the universe. … It has a specific role, as well as a variety of functions for the benefit of
our society: creating new knowledge, improving education, and increasing the quality of
our lives

3.It is important for business organisations to understand their

environment because of the following reasons, It helps the Firm to
Identify Threats and Early Warning Signals. Environmental awareness
can help managers to identify various threats on time and serve as an
early warning signals

Exercise #1

1. T

2. F

3. T

4. T

5. T

Exercise #2

1. Single Step  

2. Merchandising

3. Temporary

4. Service
5. Cost of Sales  

6. Profit  

7. Revenue  

8. Net Income  

9. Expense

10. Multi Step

ENRICHMENT

1. General & Administrative Expense

2. General &  Administrative Expense

3. Selling Expense  

4. General &  Administrative Expense

5. General & Administrative Expense

4/4
6. General & Administrative Expense

7. Selling Expense

8. Selling Expense

9. N/A (Cost of Goods Sold

POST-TEST

1. C

2. C

3. A

4. D

5. A

6. C
7. B

8. A

9. A

10. C

11. A

12. D

13. B

14. C

15. B