ABM QUIZ BEE 2025-AVERAGE

ABM QUIZ BEE 2025-AVERAGE

12th Grade

10 Qs

quiz-placeholder

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ABM QUIZ BEE 2025-AVERAGE

ABM QUIZ BEE 2025-AVERAGE

Assessment

Quiz

Business

12th Grade

Practice Problem

Hard

Created by

ARIEL SOBREVILLA

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What does inflation refer to?

Increase in wages
Decrease in government spending
General increase in prices
Increase in unemployment

2.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Which government agency handles inflation control through monetary policy in the Philippines?

DTI – Department of Trade and Industry
DOF- Department of Finance
BSP – Bangko Sentral ng Pilipinas
BIR – Bureau of Internal Revenue

3.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What term refers to money received from investments or property?

Wages
Rent
Interest
Dividends

4.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Who is known as the “Father of Accounting”?

Leonardo da Vinci
Luca Pacioli
Barry Melancon
Stephen Zeff

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

What is the purpose of the “Sales Returns and Allowances” account?

To record defective merchandise returned by buyers
To record purchases made by the business
To record the delivery cost paid by the buyer
To record customer discounts

6.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

Which of the following is an external user of accounting information?

Owner
Manager
Employee
Creditor

7.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

If a company operates in the Philippines, what principle dictates that the financial statements be presented in pesos?

Conservatism Principle
Going Concern Principle
Monetary Unit Principle
Cost Principle

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