FABM 1 Module 1 Pre-Test

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 ___________.

• Verifying

• Recording

• Interpreting

• Interpreting

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 a 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 ____________.

• a process

• a service activity

• an information system

• an art and a discipline