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WorksheetsQuiz Bee - CBA Week 2021
Total questions: 25
Worksheet time: 13mins
What accounting concept is supported by the historical principle?
Accounting Entity Concept
Going Concern Assumption
Accrual Basis of Accounting
Time Period
Which of the following users of accounting information is mostly concerned in the Statement of Comprehensive Income?
Creditors
Investors
Managers
General Public
What is the effect on the accounts if a promissory note is paid?
Asset increased; liability increased
Asset increased; liability decreased
Asset decreased; liability increased
Asset decreased; liability decreased
This statement demonstrates the financial stability of the company.
Statement of Financial Position
Statement of Comprehensive Income
Statement of Changes in Owner’s Equity
Statement of Cash Flows
Which of the following adjusting entries will not be reversed at the beginning of the next accounting period?
Debit Interest Receivable; Credit Interest Income
Debit Salaries Expense; Credit Salaries Payable
Debit Insurance Expense; Prepaid Insurance
Debit Rent Income; Unearned Interest Income
Identify the following outside factor affecting business is Political, Economic, Social, or Technological: Employment Status
Political
Economic
Social
Technological
Cost effective variables affecting businesses exclude changes in the extent of a countrys
Deprivation and Jobless
Education and Training
Inflation
Worldwide Trend
A reduction in the level of economic venture for two consecutive quarters is known as
Peak
Recession
Decline
Slump
Which of the following business game plan could be best used to deal with the complication caused by short-term recession?
Moving to low-priced premises
Lowering prices to maintain sales
Recast to cater to income-sensitive customers
Reducing the size of the employees
A depreciating Philippine Peso is likely to make Philippine trader ________ profitable, while simultaneously making a domestic producer reliant on imported capital goods and oil _________ profitable.
Just as, more
More, Just as
Less, More
More, Less
A new venture's business plan is important because ______.
It helps to persuade others to commit funding to the venture.
Can help demonstrate the viability of the venture.
Provides a guide for business activities by defining objectives.
All the above.
Which of these statements best describes the context for entrepreneurship?
Entrepreneurship takes place in small businesses.
Entrepreneurship takes place in small businesses.
Entrepreneurship takes place in a wide variety of contexts.
Entrepreneurship does not take place in social enterprises.
The use of informal networks by entrepreneurs to gather information is known as _______.
Secondary research.
Entrepreneurial networking.
Informal parameters.
Marketing
Goods or services reach the market place through ________.
marketing channels.
multilevel pyramids.
monopolies.
multiplication.
They are the one who deal with innovation, take moderate risks, and look for an opportunity.
Entrepreneurs
Managers
Owners
Consultant
This storage is used to hold foods for longer period of time, usually a few weeks to several months.
Dry storage
Wet storage
Freezer
Refrigerated
A person who is the recipient of hospitality in the form of entertainment--at someone's home, as a visiting participant in a program, or as a customer of an establishment such as a hotel or restaurant.
Staff
Guest
Manager
Owner
The cordial and generous reception of guests. A wide range of businesses, each of which is dedicated to the service of people away from home.
Business
Hospital
Hospitality
Commerce
Refers to apartments in high-rise buildings located mostly on recreational areas.
Suite
Condominium
Motel
Hotel
French word for “light drink” and served at the start of the meal to excite the palate. Champagne and sherry is common example.
(a)
The activity for creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large is referred to as.
Marketing
Advertising and promotion
Consumerism
Creative planning
One of more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a
Mass market
Mass aggregation
Target market
Promotional market
The first objective in marketing is to discover consumer'
Diversity
Potential
Objectives
Needs
There are five stages in the purchase decision process. The first is __________
Information search
Purchase decision
Problem recognition
Post purchase behavior
Any container in which a product is offered for sale and on which information is communicated is referred to as _______
Product display
Merchandising
Packaging
Packaging
