WorksheetsACCOUNTING & RIDDLES
Total questions: 31
Worksheet time: 14mins
It is the total of income less expenses, excluding the components of other comprehensive income.
Retained Earnings
Total Comprehensive Income
Profit or loss
Accumulated profit or loss
DJ Loonyo had 4 daughters, and each daughter had a brother.
How many children does DJ Loonyo have?
(a)
They refer to increases in equity from peripheral or incidental transactions of an entity
Comprehensive Income
Dividends
Revenues
Gains
An improvement made to an old machine increased its market value and its capacity to produce without extending then machine's useful life. The cost of improvement preferably should be:
Capitalized
Recorded as a loss
Recorded as a liability
Expensed
Which of the following is a benefit of providing financial information?
Auditing
Improved allocation of resources
Potential litigation
Disclosure to competition
Someone's mother has four sons.
There are named North, East and South.
What is the name of the fourth son.
Someone
West
What
Four
Adjusting entries are needed because an entity:
Has expenses
Uses the accrual basis of accounting
Uses the cash basis of accounting rather than the accrual basis.
Has earned revenue during the period by selling products from its central operations
In hyperinflationary economy, balance sheet amounts not expressed in the measuring unit current at balance sheet date are restated by applying the
General Price Index
Consumer Price Index
Suggested Retail Price Index
National Currency
Foreign Currency
A control device that helps minimize and localize accounting errors is known as
Subsidiary ledger
Worksheet
Trial balance
Chart of accounts
Calculator
IBON;
BUS;
JEEP; at,
BUILDING
Ano ang mataas sa apat?
(a)
Which of the following is not a liability?
Deposit received from customer
Unearned revenue
Zero interest-bearing note payable
Stock dividend payable
Cash flows arising from income taxes shall be separately disclosed and classified as:
Operating activities
Investing activities
Financing activities
Extraordinary activities
(a)
They are "individuals who buy or sell commodities for others or on their own account"
Procurement
Commission agents
Broker-traders
Seekers
Middle man
What word starts with "E"; ends with "E" and only has one letter in it?
What is made of water but if you put it into water it will die?
Ice cube
Ice cream
Knorr cube
Rubics cube
One rabbit saw six elephants while going to the river.
Every elephant saw two monkeys going towards the river.
Every monkey holds one parrot in their hands.
How many “animals” are going towards the river ?
4
13
5
15
Which of the following terms is associated with recognizing a provision?
Possible
Virtually certain
Remote
Probable
(a)
Rent revenue collected one year in advance should be reported as
Revenue in the year collected
Current liability
Separate item of shareholder's equity
Bonus of the business
Someone's mother has four sons.
There are named North, East and South.
What is the name of the fourth son?
Someone
West
What
Four
Which of the following is not considered as a monetary item for purposes of restating the financial statements?
Allowance for doubtful accounts
Discount on bond payable
Advances to employees
Accumulated depreciation
Find the correct result.
1 + 4 = 5
2 + 5 = 12
3 + 6 = 21
5 + 8 = ?
(a)
May sampung tao
bawat tao may hawak na sako
bawat sako may laman na pitong pusa
bawat pusa may apat na kuting
ang tanong ilan lahat ang paa?
1050
700
1400
1420
Which word in the dictionary is spelled incorrectly?
(a)
The gain or loss on the net monetary position in a hyperinflationary economy shall be charged to
Experience
Profit or loss
Retained Earnings
Other Comprehensive Income
What gets wetter and wetter the more it dries?
Plant assets may properly include
Idle equipment awaiting sale
Property held for investment purposes
Self-constructed assets currently in use
Land held for undetermined future use
Offsetting of assets and liabilities is
Allowed in all cases
Not allowed in all cases
Allowed unless not permitted by the standard
Not allowed unless permitted by the standard
Which creature walks on four legs in the morning, two legs in the afternoon, and three legs in the evening?
Man
Lion
Mummy
Eagle
Truck
What is always on its way but never arrives?
Tomorrow
Promises
Forever
Lovelife
