Pre-Test- Fundamentals of ABM 1- MODULE 1

The selecting of economic events that are relevant to a particular business transaction is called _________.

• Recording

• Measuring

• Identifying

• Classifying

Keeping a chronological diary of events that are measured in pesos is called _______.

• Verifying

• Recording

• Interpreting

• Summarizing

It occurs through the preparation and distribution of financial and other accounting reports is called ________.

• Measuring

• Classifying

• Recording

• Communicating

Accounting provides assistance to decision makers by providing them financial reports that will guide them in coming up with sound decisions is called ______.

• A process

• A service activity

• An information system

• An art and discipline

Collects processes and communicates financial information of any entity is _______.

• A process

• A service activity

• An information system

• An art and a discipline

The method of performing any specific job step by step according to the objectives or targets is called ______.

• A process

• A service activity

• An information system

• An art and a discipline

Dealt with commercial transactions at the time of Mesopotamia such as listing of accounts receivable and accounts payable is during ________.

• The Cradle of Civilization

• French Revolution (1700's)

• The Industrial Revolution (1760-1830)

• 14th Century Double-Entry Bookkeeping

Mass production and the great importance of fixed assets were given attention during the period of _________.

• The Cradle of Civilization

• French Revolution (1700's)

• The Industrial Revolution (1760-1830)

• 14th Century Double-Entry Bookkeeping

The most important event in accounting history is generally considered to be the dissemination of double entry bookkeeping by Luca Pacioli happened during _________.

• The Cradle of Civilization

• French Revolution (1700's)

• The Industrial Revolution (1760-1830)

• 14th Century Double-Entry Bookkeeping

The thorough study of accounting and development of accounting theory began during the period of _______.

• The Cradle of Civilization

• French Revolution (1700's)

• The Industrial Revolution (1760-1830)

• 14th Century Double-Entry Bookkeeping