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Assessment Part I

Total questions: 10

Worksheet time: 7mins

Name
Class
Date
1.

This type of business provides services to customer and charges fees in exchange.

a)

Sole Proprietorship

b)

Merchandising Business

c)

Manufacturing Business

d)

Service Business

2.

The minimum amount of individuals required to establish a partnership

a)

five

b)

three

c)

four

d)

two

3.

The type of business which assumes limited personal liabilities

a)

Sole Proprietorship

b)

Service Business

c)

Partnership

d)

Corporation

4.

The owners of the corporation.

(a)  

5.

The sector of accountancy profession where the budget officer of DSWD is at

(a)  

6.

The group of persons who initially organized a corporation.

a)

Shareholders

b)

Partners

c)

Initiators

d)

Incorporators

7.

CPA means

(a)  

8.

Professors, reviewers and researchers are under this sector of accounting practice.

(a)  

9.

An example of manufacturing business

a)

Events Management

b)

Luxury Items Buy & Sell Shops

c)

Sari-sari Stores

d)

Processed Food Business

10.

The whole name of your cool professor/instructress in Fundamentals of accounting

(a)