SFP

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SFP

SFP

Assessment

Quiz

Business

1st - 3rd Grade

Practice Problem

Medium

Created by

Ernesto Jr.

Used 6+ times

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. It is known to be simply asset minus liabilities. Other terms are “capital”, “net assets”, and “net worth”.

a. Liabilities

b. Assets

c. Equity

d. all of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. This refers to the payables that are due for a long time.

a. Accounts Payable

b. Notes Payable

c. Short term payable

d. Long term payable

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

3. Happy Selling’s Accounts Receivable amounted to Php 500,000. Prepaid Expense and Unearned Income totaled Php 30,000 and Php 10,000 respectively. Cash balance amounted to Php 100,000 while Accounts Payable and Inventory totaled to Php 20,000 and Php 10,000 respectively. How much are the company’s current assets?

a. P630,000

a. P640,000

c. P650,000

d. P660,000

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

4. Happy Selling’s Accounts Receivable amounted to Php 500,000. Prepaid Expense and Unearned Income totaled Php 30,000 and Php 10,000 respectively. Cash balance amounted to Php 100,000 while Accounts Payable and Inventory totaled to Php 20,000 and Php 10,000 respectively. How much is the company’s Current liabilities?

a.P20,000

b.P30,000

c.P40,000

d.P50,000

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

5. Learning is Fun Company had current assets amounting to Php 100,000. Noncurrent assets for the year totaled Php 76,000. How much are the company’s total assets?

a.P186,000

b.P176,000

c.P186,000

d.P196,000

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