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Pre-Test- Fundamentals of ABM 1- MODULE 1

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

The selecting of economic events that are relevant to a particular business transaction is called _________.

a)

Recording

b)

Measuring

c)

Identifying

d)

Classifying

2.

Keeping a chronological diary of events that are measured in pesos is called _______.

a)

Verifying

b)

Recording

c)

Interpreting

d)

Summarizing

3.

It occurs through the preparation and distribution of financial and other accounting reports is called ________.

a)

Measuring

b)

Classifying

c)

Recording

d)

Communicating

4.

Accounting provides assistance to decision makers by providing them financial reports that will guide them in coming up with sound decisions is called ______.

a)

A process

b)

A service activity

c)

An information system

d)

An art and discipline

5.

Collects processes and communicates financial information of any entity is _______.

a)

A process

b)

A service activity

c)

An information system

d)

An art and a discipline

6.

The method of performing any specific job step by step according to the objectives or targets is called ______.

a)

A process

b)

A service activity

c)

An information system

d)

An art and a discipline

7.

Dealt with commercial transactions at the time of Mesopotamia such as listing of accounts receivable and accounts payable is during ________.

a)

The Cradle of Civilization

b)

French Revolution (1700's)

c)

The Industrial Revolution (1760-1830)

d)

14th Century Double-Entry Bookkeeping

8.

Mass production and the great importance of fixed assets were given attention during the period of _________.

a)

The Cradle of Civilization

b)

French Revolution (1700's)

c)

The Industrial Revolution (1760-1830)

d)

14th Century Double-Entry Bookkeeping

9.

The most important event in accounting history is generally considered to be the dissemination of double entry bookkeeping by Luca Pacioli happened during _________.

a)

The Cradle of Civilization

b)

French Revolution (1700's)

c)

The Industrial Revolution (1760-1830)

d)

14th Century Double-Entry Bookkeeping

10.

The thorough study of accounting and development of accounting theory began during the period of _______.

a)

The Cradle of Civilization

b)

French Revolution (1700's)

c)

The Industrial Revolution (1760-1830)

d)

14th Century Double-Entry Bookkeeping

11.

These are the users wherein accounting information is used for analyzing viability and profitability of their investments.

a)

Management

b)

Owners

c)

Creditors

d)

Investors

12.

These users' need the information because they are concerned with the risk inherent in investing and the returns or invested decisions are the _______.

a)

Management

b)

Owners

c)

Creditors

d)

Investors

13.

This user in which accounting is of great assistance to management for planning, controlling, and decision-making process is the ________.

a)

Management

b)

Owners

c)

Creditors

d)

Investors

14.

These users who is interested in accounting information because it enables them to determine the credit worthiness of the business or decide whether to extend credit or not are the ________.

a)

Management

b)

Owners

c)

Creditors

d)

Employees

15.

These users who wants to find out the financial health, amount of sales and profitability of business to determine their job security are the __________.

a)

Creditors

b)

Owners

c)

Investors

d)

Employees