Business Finance

Philippine Stock Exchange (PSE) is considered as ____.

• Primary Market.
• Secondary Market.
• Both A and B.
•  None of the above.

A collection of accounts maintained by a business.

• Trial Balance
• Journal
• Ledger
• Income Statement

It refers to the system of recording transactions in a way that maintains the equality of the accounting equation.

• Accounting
•  Journals
• Double-Entry Accounting
• Compound Entry

If Accounts Payable has debit postings of P170,000, credit postings of P140,000, and a normal ending balance of P60,000, which of the following was its beginning balance?

• P30,000 cr.
• P30,000 dr.
• P90,000 cr.
• P90,000 dr.

Which of the following transactions does not affect the balance sheet totals?

• Purchasing P50,000 supplies on account
• Paying a P300,000 note payable
• Collecting P40,000 from customers on account
• Withdrawal of P80,000 by the firm's owner