Intermediate Accounting 1 – 01 Activity 2

Question 1
Preparation of statement of comprehensive income based on PAS

Correct answer: Financial Accounting

Score: 1 out of 1 Yes

Question 2
Recording of Notice of Cash Allocation from the Department of Budget and Management (DBM)

Correct answer: Government Accounting

Score: 1 out of 1 Yes

Question 3
Preparation of Notes to the Financial Statements

Correct answer: Financial Accounting

Score: 1 out of 1 Yes

Question 4
Submission of report to Bureau of Internal Revenue (BIR)

Correct answer: Tax Accounting

Score: 1 out of 1 Yes

Question 5
Investigating unusual variances and deviations in cost

Correct answer: Managerial Accounting

Score: 1 out of 1 Yes

Question 6
Creation of Statement of Financial Position

Correct answer: Financial Accounting

Score: 1 out of 1 Yes

Question 7
Preparation of report based on GAM

Correct answer: Government Accounting

Score: 1 out of 1 Yes

Question 8
Preparation of a sales forecast as requested by the executives of the company

Correct answer: Managerial Accounting

Score: 1 out of 1 Yes

Question 9
Preparation of budget analysis and its comparison to the actual result of operations

Correct answer: Managerial Accounting

Score: 1 out of 1 Yes

Question 10
Computation of Monthly VAT Return
Correct answer: Tax Accounting

Score: 1 out of 1