SAINT JUDE THADDEUS INSTITUTE OF TECHNOLOGY

Brgy. Lipata, Surigao City

HIGH SCHOOL DEPARTMENT

THIRD QUARTER FINAL EXAMINATION

FUNDAMENTAL BUSINESS MANAGEMENT 2

Name : ____________________________________ Section :______________________________

Date :_____________________________________ Score : _______________________________

I. Instruction: Fill in the blank with the correct answer. (2 points each)

_________ 1. Formerly known as Income Statement.

_________ 2. The excess of revenues over expenses

_________ 3. Refers to proceeds from the sale of merchandise.

__________4. Shows the results of operation of the business for a given period of time.

__________5. Also known as nominal accounts.

__________6. The two elements of financial statements for SCI.

__________7. Includes Salaries and Utilities

__________8. If expenses is more than net income.

__________9. Includes rental revenue, sales, and service income.

__________10. Best approach for a single proprietorship business.

__________11. An example to this is gains or losses on hedging derivatives

__________12. An approach used on preparing statement of comprehensive income that shows

expense by its nature.

__________13. An increases in economic benefits during the period in the form of inflows or
enhancements of assets or decreases of liabilities that result in increases in equity

__________14. This occurs when revenue is less than expenses.

__________15.It arises in the course of the ordinary activities of a business and is referred to by a
variety of different names including sales, fee, interest, and etc.

__________16.The difference between an Income Statement and SCI …

__________17.The nature of business for a single step statement of comprehensive income

__________18.The nature of business for a multi-step statement of a comprehensive income

__________19.the expenses to be given to the company’s employees for the services they have
rendered.

__________20.The expenses usually referred to by Zaneco, NAWASA and PLDT.

II. Prepare a Statement of Comprehensive Income. (20 points)

1. Service Revenue Php95,000.00; Salaries Expense Php5,000.00; Transportation Expense

Php15,000.00; Rent Expense Php20,000.00; Utilities Expense Pph3,000.00; Other
Comprehensive Income is Php8,000.00