Dry Run (LED CUP)

(Principles of Marketing)

Which of the following is NOT one of the 4Ps of marketing?

• Product

• Price

• Performance

• Promotion

(Applied Economics)

When demand increases and supply remains constant, what happens to the price of the product?

• It decreases

• It remains unchanged

• It increases

• It fluctuates randomly

(Fundamentals of Accountancy, Business and Management 1)

The principle that requires businesses to record expenses when they are incurred, regardless of when they are paid, is called:

• Matching Principle

• Revenue Recognition Principle

• Cost Principle

• Business Entity Principle

(Fundamentals of Accountancy, Business and Management 2)

Which type of adjusting entry is recorded when a business pays rent in advance for the next six months?

• Accrued Expense

• Prepaid Expense

• Unearned Revenue

• Depreciation Expense

(Business Mathematics)

If a product is sold for PHP 2,500 after a 20% discount, what was its original price?

• PHP 3,000

• PHP 3,100

• PHP 3,125

• PHP 3,200

Answer explanation

Formula: Original Price = Final Price / 1 - Discount Rate

Solution:

Original Price = PHP2,500/0.80

= PHP3,125