Republic of the philippines

Department of Education
Region lll
SCHOOLS DIVISION OFFICE OF PAMPANGA
SAN ROQUE DAU HIGH SCHOOL
SAN ROQUE DAU, LUBAO, PAMPANGA
2nd Quarter Examination
Fundamentals of Accountancy, Business and Management 2

Name: _________________________________________ Date: _______________ Score: __________________

l. Multiple Choice. Write the letter of your answer on the space provided.
1. Which shows the relationship of each part to the whole in a single financial statement?
a. Financial Ratio Analysis c. Trend Analysis
b. Horizontal analysis d. Vertical Analysis
2. This is to determine the direction/inclination in the industry
a. Financial Ratio Analysis c. Trend Analysis
b. Horizontal analysis d. Vertical Analysis
3. It narrates the connection between the numbers presented in the financial statement.
a. Financial Ratio Analysis c. Trend Analysis
b. Horizontal analysis d. Vertical Analysis
4. A tool that examines multiple years of financial statement to determine where the industry is headed to.
a. Financial Ratio Analysis c. Trend Analysis
b. Horizontal analysis d. Vertical Analysis
5. Which of the following compares the financial statement of the same business for the current year and past year
to calculate the difference using a base year?
a. Financial Ratio Analysis c. Trend Analysis
b. Horizontal analysis d. Vertical Analysis
6.The process of evaluating the strength and weaknesses of a business, the risks, performance, and financial
health by looking between the computation phase (figures) and interpretation phase (analysis).
a. Financial Ratio Analysis c. Financial Statement Analysis
b. Horizontal analysis d. Vertical Analysis
7. Listo Company reported the net sales figures. If the base year is 2016, what is the percent of increase for 2017.

a. 50% b. 100% c. 150% d. 200%

8. Using the item in no.7, what type of analysis was shown by Lito Company?
a. Financial Ratio Analysis c. Trend Analysis
b. Horizontal analysis d. Vertical Analysis
9. Which of the following are techniques, tools or methods of analysis and interpretation of financial statements?
a. Financial Ratio Analysis c. Vertical Analysis
b. Horizontal analysis d. All of the above
10. Which formula is defined by annual sales DIVIDED BY 360 days?
a. Average collection period c. Current Ratio
b. Average sales period d. Average daily sales
11. It is a widely accepted bank document used to pay and withdraw huge and irregular value/amount of cash.
a. check b. money c. note d. voucher
12. A record of the account holder’s transaction for the past 30 days.
a. deposit slip b. bank statement c. payment slip d. withdrawal slip
13. An account that intended to help clients save money for future needs.
a. current account b. savings account c. recurring deposit d. time deposit
14. What happens to a check that is not transacted beyond 180days? It becomes a:
a. bouncing check b. crossed check c. stale check d. post-dated check
15. What kind of account allows payment and withdrawing by check?
a. current account b. savings account c. recurring deposit d. time deposit
16. What kind of account has a fixed maturity date and higher interest rate?
a. checking account b. savings account c. recurring deposit d.time deposit
17. Which check cannot be encashed over the counter?
a. bouncing check b. crossed check c. stale check d. post-dated check
18. Which is NOT a part of a Bank statement?
a. amount in words b. depositor’s information c. bank’s information d. transaction codes
19. Each bank accounts are insured from the PDIC for up to what amount?
a. P250,000 b. P500,000 c. P300,000 d. P1,000,000
20. PDIC is an institution that insures bank deposits. What does it stand for?
a. Philippine Dangerous Income Check c. Philippine Depository Insurance Company
b. Philippine Deposit Insurance Corporation d. Philippine International Insurance Check
21. Taxation is the process by which our government raises income to pay its necessary
a. Assets b. expenses c. income d. taxes
22. Its a kind of income received by employees working in different companies. It is often in the form of
salaries, bonuses, and allowances.
a.Compensation Income b. Gross Income c.Passive Income d.Police power
23.The process by which our government, through our lawmakers, raises income to pay its necessary expense.
a. Code of Ethics b. Tax c. Taxable d. Taxation
24.Which principle of taxation that should be proportionate to the ability of the taxpayer to pay it?
a.Administrative Feasibility b. Fiscal Adequacy c. People Power d. Theoretical Justice
25.He or she is a citizen of a foreign country but resides here in the Philippines during the taxable year.
a.A non- resident citizen b. Non- resident alien c. Resident alien d. Resident Citizen
26.Which of the following taxes is imposed if an employed salary individual only resource is compensation.
a. Business and Income Tax b.Business tax c. Excise Tax d. Income tax
27. Which of the following taxes is imposed if an individual is self-employed and has a business that gained profit.
a. Business and Income Tax b. Business tax c. Income tax d.Value-added Tax
28. Which of the following taxed on all income earned from sources within the Philippines?
a. Non-resident citizens b. Non-resident citizen c. Resident citizens d. Resident alien
29. Which of the following not deemed to be tax purposes?
a.Regulating inflation c. reduce the adverse effects of such activities
b. Making these people less well off d. to have an equitable distribution of resources among the community
30. The non-taxable limit of "13-month pay and Other Benefits" is
a. P82,000. b. P90,000. c. P100,000. d. 0
31. You are an auditor employed in one of the biggest auditing firms in the country. As an auditor, you travel very
often, sometimes abroad - for international clients, with daily allowance to cover for transportation costs, hotel
accommodation, meals, beach sandals, sunblock lotion, and bathing suit. You are required to liquidate the per
diem allowance and return any unused amount. Which of the following statements is correct?
a. The total daily allowance you receive is taxable on you.
b. The portion of the daily allowance you have spent is taxable on you.
c. The daily allowance is not taxable. d. Spongebob wears round pants.
32. You are an employee in the private sector. For the year 2022, you received a 13thmonth pay of Pl10,000 and
a Christmas bonus (non-performance based) of P25,000. Of the benefits you have how much is taxable?
a. P135,000 b. P90,000 c. P45,000 d. P0
33. Which of the following is the VAT rate?
a. 3% b. 10%. c.12%. d. none of these
34. Which of the following is a percentage tax rate?
a. 3% b. 10%. c. 12%. d. 15%
35-40. Use the tax table below to answer. (2points each)

35-36.How much is the tax due on a taxable income of P290,000? __________________

37-38. Carol earns compensation income of P3,230,000 during a taxable year. How much is the tax due?_______
39-40. The payslip of Mr. Budoy shows the following information:
Basic salary P348,000
SSS contribution 6,976
PhilHealth contribution 4,500
Pag-IBIG contribution 1,210
How much is the tax due to Mr. Budoy? __________________

41-50. Identify the type of ratio listed below based on what it measures. Write the letter of the correct
answer on the blank.
a. Profitability b. Solvency c. Liquidity d. Turnover
_____ 41. Debt- to Equity Ratio _____ 46. Average Sale Period
_____ 42. Times Interest Earned _____ 47. Quick Ratio
_____ 43. Average Collection Period _____48. Gross Profit Ratio
_____ 44. Current Ratio _____ 49. Operating Profit Margin
_____ 45. Equity Ratio ______ 50. Return on Assets

Prepared by:
Eva L. Hernandez
SHS-Teacher ll
1. A statement of financial position can be best described as a:
A. listing of money received and paid during the past year
B. summary of what happened last year
C. summary of all assets, expenses, liabilities, and revenues
D. summary of the position of an organization
2. An asset is an
A. expense that will recur in more than one year
B. obligation to transfer benefits as a result of past transactions
C. interest of the owner in the business
D. any financial resources that is used by the business in its operation trade-offs
3. What is a financial statement that shows the financial position of an enterprise at a particular point in time
A. Statement of Financial Position C. Income Statement
B. Cash Flow Statement D. Statement of Changes in Equity
4. Which of the following transactions would increase cash as well as non-current liabilities?
A. Long-term bank loan C. Payment to suppliers
B. Purchasing equipment on credit D. Payment from customers
5. MN Mitz have non-current assets of P60,000, current assets of P70,000, current liabilities of P40,000,
and a long-term loan of P50,000; as such the owner’s equity will be:
A. P40,000 B. P50,000 C. P60,000 D. 70,000
6. Which of the following accounts is a current asset?
A. Bond Payable C. Trade and other payables
B. property,plant, and equipment D. Trade and other receivables
7. Which of the following accounts is a non-current asset?
A. Accounts payable B. Capital C. Cash D.Trademarks
8. Which of the following accounts is a current liability?
A. Trade receivables B. Retained earnings C.Trade payables D. Machinery
9. All of the following are liabilities, except:
A. Other accrued expenses B. notes payable C. notes receivables D. interest payables
10. All of the following are current assets, except:
A. Trade accounts receivables B. Interest payables C. Inventories D. Notes receivables
11. Which of the following is not a correct expression of the Statement of Financial Position equation?
A. assets-liabilities= Owner’s Equity C. assets=Owner’s equity
B. Liabilities=Asset-Owner’s Equity D. Assets=Liabilities+Owner’s Equity
12. The difference between a current asset and non-current asset is
A. on how long the asset has been owned
B. on the ability to determine the current fair market
C. whether the assets is tangible or intangible
D. whether the asset is expected to be converted to cash or used within the normal operating cycle to
benefit the entity.
13. In which order are liabilities usually listed in the Statement of Financial Position?
A. Alphabetical order C. the order in which they were incurred
B. the order in which they were expected to be paid D. the order of smallest to largest
14. The investment of cash of the owner into the business results in a/an
A. increase in cash and a decrease in owner’s equity
B. increase in cash and an increase in owner’s equity
C. decrease in cash and an increase in owner’s equity
D. increase in fees earned and an increase in owner’s equity
15. Which of the following is an element of a comprehensive income?
A. sales B. Accounts payable C. Notes Receivable D. Capital
16. Which of the following is classified as selling expense?
 A. salaries of the president C. Depreciation of administration building
B. salaries of sales executives D. Depreciation of office equipment
17. This is typically the date of the statement of comprehensive income
A. “As of December 31, 2015” C. “For the period ended December 31, 2015”
B. Either a or b D. none of the above

18. Which of the following is the correct gross profit formula?

A. Sales + Cost of Sales = Gross Profit C. Sales - Gross Profit = Cost of Sales
B. Sales + Gross Profit = Cost of Sales D. None of the above
19. What is a financial statement that tells a specific story about the owners stake in the company?
A. Statement of Financial Position C. Statement of Changes in Equity
B. Statement of Comprehensive Income D. Statement of Cash Flow
20. How are owners in a sole proprietorship called?
A. Sole proprietors B. Partners C. Shareholders/Stockholders D. None of above
21. Which account contains all net income and net loss incurred by the corporation for the current and
previous years?
A. Common Stock B. Retained Earnings C. Additional Paid-in Capital D. None of the above
22. What is the owner in a Corporation called?
A. Sole proprietors B. Partners C. Shareholders/Stockholders D. None of above
23. Which of the following events increases cash balance?
A. Bank not granting loan C. Loan repayment to creditor
B. Debtors paying to the company D. Sale of stock on account
24. Which of the following events reduce cash balances?
A. Purchase of fixed assets C. Purchase of stock on account
B. Acquired assets on credit D. Creditors grant loans
25. Which one of the following is not a category of cash flows required to be shown on the statement of
cash flows?
A. Cash flows from operating activities C. Cash flows from taxation
B. Cash flows from financing activities D. Cash flows from investing activities
26. Which of the following is categorized as a cash flow from investing activities?
A. Increase in Inventory C. Proceeds from sale of PPE
B. Proceeds of loan D. Dividends paid
27. Which of the following would reduce the cash balances of a business and not reduce the profit?
A. Distribution costs B. Dividends paid C. Interest paid D. Wages paid
28. Which of the following reduces the cash balances of a business?
A. Cash inflow from interest income C. Cash outflow to acquire fixed assets
B. Cash inflow from dividend income D. all of the above
29. Which of the following is a cash flow from a “financing” activity?
A. Cash payments to acquire intangible assets C. Cash proceeds from bank loans
B. Cash receipts from sale of tangible assets D. Cash payments to acquire PPE
30. Which of the following is not a cash outflow for the business?
A. Depreciation B. dividends C. interest payments D. taxes
II. Prepare a Statement of Financial Position and label its parts.
Below are the accounts of Hernandez Trading for the year ended December 31, 2021.
Accounts Payable ------------------------100,000
Accounts Receivable -------------------- 70,000
Capital ---------------------------------------620,000
Cash -----------------------------------------500,000
Inventories ---------------------------------225,000
Notes payable ---------------------------- 350,000
Property and equipment --------------- 275,000
III. Prepare a Statement of Comprehensive Income.
The following are the accounts of Carys Eye Specialists for December 31, 2020.
Professional Fees ---------------200,000
Salaries Expense -----------------20,000
Supplies Expense -----------------30,000
Depreciation Expense ------------24,000
Utilities Expense -------------------16,000
Insurance Expense ---------------- 8,000
Rent Expense -----------------------36,000
IV. Prepare a Statement of of Changes in Owner’s Equity for Lopena Foods.
Lopena Foods is owned by Mr. Hipolito Lopena, Mr. H. Lopena’s capital balance as of January 1,
2020 is P300,000. During the year, he infused additional capital of P37,500. Also Lopena Foods incurred a net loss
of P30,000. Furthermore, Mr. Lopena withdrew P22,500 during 2020.
V. Prepare the Statement of Cash Flows using the direct method.
Below are the cash transactions of Pilipinas Services for December 31, 2021.
Cash payments to suppliers of goods and services------70,000
Cash receipts from rendering of services -----------------140,000
Payment to owners -----------------------------------------------14,000
Proceeds from bank loans --------------------------------------70,000
 Proceeds from cash investment of owners ---------------322,000
Payment for acquisition of equipment --------------------- 280,000
Cash at the beginning of the year ------------------------ 2,800,000

“It is not about what you lose when it is over. Far more, it is about what you gain during the journey!” Cass van Krah
Prepared by: Checked by: Approved by:
Eva L. Hernandez Emmanuel Jay D. Dimal, DPed,EdD Remedios D. De Guzman, PhD
SHS-Teacher Master Teacher l Principal IV

Republic of the philippines

Department of Education
Region lll
SCHOOLS DIVISION OFFICE OF PAMPANGA
SAN ROQUE DAU HIGH SCHOOL
SAN ROQUE DAU, LUBAO, PAMPANGA
2nd Quarter Examination in Organization and Management

Name: _________________________________________ Date: _______________ Score: __________________

l. Multiple Choice. Write the letter of your answer on the space provided.
1. The step in the staffing process wherein the manager determines the right number of people and the required
skills for the job.
a. Human resource planning b. Job analysis c. Recruitment d. selection
2. The management function that sets the direction for an organization, and formulates a plan to ensure that the
system follows that direction.
a. Scanning b. Planning c. Organizing d. Staffing
3. Management function that brings together all the human, physical, and financial resources and integrates them
with related jobs and positions.
a. Controlling b. organizing c. Staffing d. directing
4. It involves acquiring and developing human resources that will carry out and perform the various activities of the
organization. a. Controlling b. organizing c. Staffing d. directing
5. The procedure for determining the duties and skill requirements for a job or position.
a. Selection b. Job analysis c. Gap analysis d. recruitment
6. This technique requires face-to-face interaction between the job analyst and the employee.
a. Observation b. Interview c. Questionnaire d. Logbook
7. The process of attracting qualified applicants to occupy vacant positions in the company.
a. Recruitment b. Staffing c. Placement d. Selection
8. This a test of general knowledge that consists of questions on linguistics and numerical
abilities and abstract reasoning.
a. Intelligence test b. Personality Test c. Aptitude Test d. Psychological Test
9. This is a measure of aspects of behavior such as cooperation, initiative, responsibility and etc.
A. Mental Ability Test b. Apitude test c. Personality Test d. Psychological Test
10. This refers to the process where employee performance is documented and evaluated.
a.Development b. Training c. Promotion d. performance appraisal
11. The movement to another position but with the same level or scope of responsibilityl.
a.Promotion b. transfer c. Demotion d. resignation
12. This measures specific abilities and the applicant’s inclination to succeed in a particular field.
a. Mental Ability Test c. Personality Test
b. Aptitude Test d. Psychological Test
13. The status of employment given for six months after which he or she evaluated before becoming a regular
employee. a. Probationary period c. temporary
b. Contractual d. Regular
14. This is an employee’s voluntary decision to leave the organization.
a. Transfer b. demotion c. Retirement d. resignation
15. This refers to the end of a worker’s employment with the company due to old age, illness, or infirmity.
a. Transfer b. demotion c. Retirement d. resignation
16. Which form of separation if an employee’s voluntary decision to leave the organization?
a. Resignation b. retirement c. separation with authorized cause d. separation with just cause
17. Which of the following is a common reason for demotion?
a. Accuracy b. congeniality c. inefficiency d. punctuality
18. Recruitment category where the management hires the most qualified applicant outside the company’s vicinity.
a. External recruitment b. Internal recruitment c. Job vacancy d. Promotion
19. It refers to the reassignment of a higher level job to an internal employee with delegation of responsibilities and
authority required to perform that higher job and normally with higher pay.
a. External recruitment b. Internal recruitment c. Job vacancy d. Promotion
20. Recruitment type where an employee within the organization fills the job vacancy declared by the human
resource department.
 a. External recruitment b. Internal recruitment c. Job vacancy d. Promotion
21. Ms. Evhie has been working in the Registrar’s Office as Office Clerk for almost 10 years.  Recently, she was
directed to move in another position and work as College Secretary of the CAS Department with the same level or
scope of responsibility.  What type of employee movement was applied to Ms. Evhie? 
a. demotion b. promotion c. separation d. transfer

22. Which among the following is NOT a reason for demotion?

a. breach of discipline c. improve employee morale
b. inadequacy of knowledge d. unable to cope with change
23. Which is called the fixed part of the pay/salary?
A. basic pay b. cost of living allowance c. incentives d. other benefits
24. Ava received a travel ticket from her company for the work she has done. What kind of reward did she receive?
A. extrinsic reward b. intrinsic reward c. monetary reward d. service reward
25. The two main components of staffing are ___________ and ____________.
a. external and internal staffing c. recruitment and selection
b. long-term and short-term staffing d. strategies and tactics
26. The process which includes analyzing the requirements of a job, attracting employees to that job, screening and
selecting applicants, hiring, and integrating the new employee to the organization.
a. Recruitment b. Satisfaction c. Selection d. Training
27. The process of picking or choosing the right candidate, who is most suitable for a vacant job position in an
organization. a. Recruitment b. Satisfaction c. Selection d. Training
28. These are the two types of recruitment in the organization.
a. Internal and external c. promotion and referral
b. Positive and negative d. strategic and technical
29. This is the most widely used method for external recruitment where companies announce vacancies through
electronic and print media such as newspaper, magazines, television, radio and internet.
a. Advertisements b. Educational institutes c. Private employment agencies d. Walk-ins
30. This is the process of enhancing the skills, capabilities and knowledge of employees for doing a particular job.
a. Promotion b. Recruitment c. Selection d. Training
31. This helps the employers know if any of the potential candidates are physically and mentally fit to perform their
duties in their jobs. a. Employment Tests b. Interview c. Medical examinations d. Screening applications
32. This is a type of job interview where one interviewer is speaking with one candidate.
a. One-on-one interview b. Panel interview c. Structured interview d. Unstructured interview
33. This type of examination assesses the potential candidate if it has potential for learning the skills required to do
a job efficiently. This also measures an applicant’s capacity and his potential for development.
a. Aptitude Test b. Intelligence Test c. Personality Test d. Proficiency Test
34. This type of interview is prepared in advance on the basis of job specification.
a. guided interview b. structured interview c. unstructured interview d. panel interview
35. A candidate is interviewed by a number of interviewers, and the questions are asked by them in random order.
a. guided interview b. structured interview c. unstructured interview d. panel interview
36. Which is designed to let the interviewee speak his mind freely.
a. guided interview b. structured interview c. unstructured interview d. panel interview
37. It is the connection created among employees/workers as they do their assigned tasks for the organization to
which they belong. a. compensation c. performance appraisal
b. employee relations d. performance evaluation
38. All forms of pay given by employers to their employees for the performance of their jobs.
a. compensation b. employee relations c. performance appraisal d. performance evaluation
39. Which of the following should NOT be included?
 a. benefits b. incentives c. praise d. stock options
40. The following are tangible rewards EXCEPT for?
a. money b. car incentive c. praise d travel incentive

41. Which of the following should NOT be included?

a. promotion b. demotion c. separation d. compensation
42. Which is called the fixed part of the pay/salary?
a. Basic pay b. cost of living allowance c. incentives d. other benefits
43. Which refers to compensation given to professionals on a monthly or semi-monthly basis?
a. Basic pay b. salary c. wage d. bonus
44. Which refers to compensation given on a weekly or daily basis and usually applies to manual workers such as
carpenters, plumbers, electricians, and the like.
a. Base pay b. wage c. salary d. Cola
45. Which refers to the number of years an employee in the service to the organization?
a. Demotion b. meritorious performance c. tenure d. retirement
46. Which refers to an excellent or outstanding performance of an employee.
a. Promotion b. tenure c. meritorious performance d. demotion
47. Which commonly known as layoff, the company’s decision to terminate employees due to business reasons.
a. Resignation b. separation with authorized cause c. separation with just cause d. retirement
48. Which occurs when an employee is terminated due to theft, fraud, and other serious offenses.
a. Resignation b. separation with authorized cause c. separation with just cause d. retirement
49. A compensation package which consists of five components: basic salary, bonuses, stock plans, benefits and
perquisites.
a. Incentives b. executive pay c. stock options d.benefits
50. Which rewards that grant employees that right to buy a specific number of shares of the organization’s stock at
a guaranteed price during a selected period of time.
a. Stock options b. salary c. executive pay d. incentives