TLE 9-

ACCOUNTING

TEACHER RONALD M.
ATIBAGOS
1 Quarterly
st

Examination
1. It is a branch of accounting primarily
handling the recording of financial
transactions of a business.
a) Financial Accounting
b) Government Accounting
c) Management Accounting
2. The standardized accounting report
of all financial transaction is
called_________.
a) Statement of cash flow
b) Financial Statement
c) Shareholder’s Equity
3. It is a branch of accounting which focuses
on the preparation of financial reports used
by managers in their day-to-day decision-
making..
a) Management Accounting
b) Financial Accounting
c) Government Accounting
4. A management and business skills that
enables that management accountant to
analyze information and use it to make
business decisions
a) Risk
b) Strategy
c) Analysis
5. The skill that enables the accountants to
identify information the management needs
and also explain the numbers to non-financial
managers
a) Communication
b) Planning
c) Risk
6. The skill that enables the accountants to
formulate business strategies that will
increase the company’s wealth and create
value for the company’s shareholders.
a) Strategy
b) Risk
c) Communication
7. The skill that enables the accountants to
apply accounting techniques in the planning
and budget creation phase of a business.
a) Strategy
b) Planning
c) Communication
8. The skill that enables the accountants
to identify risk that can potentially have
detrimental effects to the company.
a) Planning
b) Communication
c) Risk
9. It is defined as an accounting system which
“encompasses the process of analyzing, recording,
classifying, summarizing, and communicating all
transactions involving the receipt and disposition of
government fund and property and interpreting the result
thereof.”
a) Government Accounting
b) Auditing
c) Cost Accounting
10. It is the stricter control that
prevents the misuse of the country’s
resources.
a) COA
b) NGAS
c) BTr
11. It is the enacted budget of the
country for the upcoming year.
a) BTr
b) GAA
c) NGAS
12. It is responsible for the keeping of the
government’s general accounts. It is also task
to keep and update the accounting books of
the whole organization
a) COA
b) BTr
c) GAA
13. It is responsible for the safekeeping
of the national funds. It also serves like
a bank where the funds are kept.
a) GAA
b) COA
c) BTr
14. It is an unbiased examination and
evaluation of the financial statements
of an organization.
a) Reporting
b) Costing
c) Auditing
15. What do we call to those
accountants that perform the auditing
procedure?
a) Financial Accountant
b) Management Accountant
c) Auditors
16. The definition of government
accounting came from_______.
a) Section 109 of PD 1445
b) Section 109 of PD 1446
c) Section 110 of PD 1445
17. One of the differences of financial accounting from
management accounting is _______________.
a) Financial accounting are beneficial to externals users only
b) Financial accounting, unlike management accounting,
primarily aims to help managers in their decision making
c) Financial accounting can be used by internal users only
18. Financial accounting is
concerned with_____.
a) Special purpose financial statement
b) General purpose financial statement
c) Management reports
19. Which of the following is the purpose of
auditing?
a) To check the presentation of the financial statement
b) To enhance the credibility of the financial statements
c) To ensure that the financial statements are free from
errors
20. Which of the following is not a role
of management accountant?
a) Assists in the preparation of general
purpose financial statements
b) Monitors spending and financial control
c) Conducts internal business audits
21. Which of the following agency is not
charged with government accounting
responsibility?
a) Legislative Department
b) Bureau of treasury
c) Government Agencies
22. The role of Commission on Audit in the
government accounting process
includes____________?
a) Efficient and sound utilization of government funds
b) Keeping and updating the accounting books of the
government
c) Management and distribution of government funds
23. Financial statements that undergo
the process of auditing is
called____________?
a) Certified financial statements
b) Audited financial statements
c) Qualified financial statements
24. Management reports should adhere to
the guidelines of which of the following?
a) Philippine Financial Reporting
Standards(PFRS)
b) Philippine Accounting Standards (PAS)
c) None of the above
II-Enumaration
25-32. Enumerate the 8 Branches of
Accounting
33-35. Give at least 3 strategic and
management skills that a
management accountant must have.