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WorksheetsFABM2
Total questions: 10
Worksheet time: 5mins
He is the Father of Accounting.
Fra Luca Picalo
Fra Luca Pacioli
Frio Lily Pio
Fro Loca Pacion
It is the language of the business.
Finance
Accounting
Auditing
Management
Retailing is the sale of merchandise in bulk to a retailer for repackaging and resale in smaller quantities at a higher price.
True
False
Banks and schools are example of service business.
True
False
This refers to accounting period that ends on December 31.
Calendar Year
Fiscal Year
Going Concern
Periodicity Concept
It is a processing system that involves entering two effects of every transaction
Single entry system
Double entry system
Bookkeeping
Journalizing
This refers to an association of two or more persons to carry on as co-owners of a business for profit
Sole Proprietorshi[
Partnership
Corporation
Cooperatives
One who contributes money or property to the capital of the partnership
Capitalist Partner
Industrial Partner
Capitalist-Industrial Partner
General Partner
In the basic accounting formula, which of the following their normal balance is on the Debit side.
Assets
Liabilities
Revenue
Withdrawals
Expenses
Which of the following is the correct equation or formula of accounting?
A + L = OE
A = L - OE
A = L + OE
A - L = OE
