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WorksheetsIntroduction to Accounting and Business
Total questions: 15
Worksheet time: 14mins
Who is considered as Father of Accounting?
Nicanor Reyes
Cotrugli
Luca Pacioli
Conrado Valix
Which of the following is not part of the complete set of Financial Statement?
Statement of Financial Information
Statement of Cash Flow
Statement of Financial Position
Statement of Financial Performance
Select the three forms of businesses.
Sole Proprietorship
Merchandising
Corporation
Partnership
Select the three (3) types of business operation.
Service
Merchandising
Manufacturing
Financing
Select the three (3) types of business activities.
Servicing
Operating
Financing
Investing
Which of the following users of information are considered both internal and external?
BIR
Suppliers
Creditors
Management
Which of the following form of business must register with Local Government and BIR?
Sole Proprietors
Partnerships
Corporations
All of the above
Which of the following must register with DTI?
Sole proprietorship
Partnership
Corporation
Both Partnership and Corporation
Which of the following must register with SEC?
Sole proprietorship
Partnership
Corporation
Both Partnership and Corporation
Which of the following is not considered as changes taking place in the environment of accounting?
High Technology
COVID19 Pandemic
Global eCommerce
Trade Liberalization
Which of the following is not skill used in maintaining sustainability?
Profit Skill
Planet Skill
Pricing Skill
People Skill
In computing your net worth, you must deduct your liabilities from your
Money
Assets
Profits
Income
Which of the following are knowledge base required for students
General Knowledge
IT Knowledge
Business Knowledge
Accounting Knowledge
All of the above
Accountants should include in their reports the impact of social programs on the costs of the business.
False
True
Not sure
Maybe
The first financial statement to be prepared in the accounting process is?
Balance Sheet
Income Statement
Cash Flow
Changes in Equity
