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Final Exam - BM1

Total questions: 120

Worksheet time: 1hrs 28mins

Name
Class
Date
1.

Determine the Model for starting your design

firm: A few firms Kohn Pedersen Fox being one of

the best known--got off the ground due in large part

to the exceptional sales skills and client

relationships of one or more of the founders.

a)

Sponsor

b)

.Supersalesperson

c)

Golden Handshake

d)

Spin-off

2.

Determine the offices organized under foreign

laws:

Allows the parent company to maintain direct

control over operations in a different location

a)

Representative Office

b)

Regional Headquarter

c)

Branch Office

d)

Regional Operating Headquarter

3.

Which is not an accounting report used in a

company?

a)

Profit and Loss

b)

Declaration of Asset

c)

Cash Flow

d)

Balance Sheet

4.

Determine the offices organized under foreign

laws: A specialized type of office that not only

oversees and manages regional operations but

also provides specific services such as logistics,

technical support, and shared services to affiliates,

subsidiaries, or branches in the region.

a)

Regional Headquarter

b)

Representative Office

c)

Branch Office

d)

Regional Operating Headquarter

5.

Determine the factors that affects the industry of

architecture: Most competitive firms have already

transitioned to BIM modeling. But that's just the

start. The incorporation of 3D virtual reality (VR)

experiences via fully immersive VR headsets,

wherein the client can walk through a full scale

building even prior to the start of construction, is

already possible.

a)

Technology

b)

Demographics

c)

The architect’s role

d)

Revenue

6.

Determine the type of business organization:

Easy and inexpensive to set up and operate

a)

Sole Proprietorship

b)

Corporation

c)

Partnership

d)

Stock Corporation

7.

.Determine the type of business organization:

Can raise significant capital by issuing shares.

a)

Partnership

b)

Corporation

c)

Sole Proprietorship

d)

Stock Corporation

8.

Determine the factors that affects the industry of

architecture: The buying of smaller or even equal

sized firms by other firms in an effort to get a

foothold in either a new building type or geographic

area has been an active trend for the past several

years.

a)

Revenue

b)

The Architect's Role

c)

Technology

d)

The Shrinking Marketplace

9.

Determine the Model for starting your design

firm:
More typically, the founders of a new firm

spend their early years rising to senior positions

below partner level in their former firms, and while

there build strong personal reputations and

reference lists, as well as a modest base of

"moonlight" clients too small for their former

employers. Then they break away.

a)

Supersalesperson

b)

Spin-off

c)

Sponsor

d)

Golden Handshake

10.

Determine the factors that affects the industry

of architecture: Does architecture school truly

prepare one to work as an architect upon

graduation?

a)

The Architect's Role

b)

Revenue

c)

Technology

d)

Academia versus workplace

11.

Determine the Model for starting your design

firm: Many of the best-known, design firm

principals have relied on their teaching positions to

provide them with the basic income, time,

credibility, and exposure to lay the foundations of a practice

a)

House for Mother

b)

Major client as first stage booster

c)

Academic Incubator

d)

the Better Mousetrap

12.

Determine the offices organized under foreign

laws:
Enhances strategic control and coordination

over regional operations.

a)

Representative Office

b)

Branch Office

c)

Regional Operating Headquarter

d)

Regional Headquarter

13.

Determine the offices organized under foreign

laws: Provides a presence in the market for

customer service and marketing purposes.

a)

Regional Headquarter

b)

Regional Operating Headquarter

c)

Branch Office.

d)

Representative Office

14.

What is considered the realities of the market of

the Architecture More construction, more jobs for

architects

a)

More construction, lesser jobs for architects

b)

lesser construction, more jobs for architects

c)

More construction, more jobs for architects

d)

lesser construction, no effect on architects

15.

Determine the Model for starting your design

firm: The firm is founded. or taken beyond the start

up with the support of a single client willing to

gamble on a young firm.

a)

Academic Incubator

b)

House for Mother

c)

the Better Mousetrap

d)

Major Client as First-Stage Booster Rocket

16.

What is considered a factor that affects the

industry of architecture?

a)

Economic Pressure

b)

Engineer's Role

c)

Site Development Planning

d)

Academia versus Workplace

17.

Why has the Architecture industry considered

having an identity problem

a)

We inform the public of what we do

b)

We know how to market our profession

c)

Tig drawing notion

d)

Because we coordinate with engineering field

18.

Determine the type of business organization:

Composed of 2 or more but less than 5 business

owners.

a)

Partnership

b)

Corporation

c)

Sole Proprietorship

d)

Stock Corporation

19.

Determine the Model for starting your design

firm: Some firms see an unmet need and set out to

fill it. In past years, this has included firms that first

focused on specialties, such as recycling historic

structures, or smaller projects in communities not

served by enough strong local designers, or,

currently, sustainable design.

a)

House for Mother

b)

the Better Mousetrap

c)

Academic Incubator

d)

Major Client as First-Stage Booster Rocket

20.

Determine the offices organized under foreign

laws: An office established by a company to

conduct market research and promote the

company's products and services but not to

engage in direct sales or revenue-generating

activities.

a)

Regional Operating Headquarter

b)

Branch Office

c)

Representative Office

d)

Regional Headquarters

21.

Determine the factors that affects the industry

of architecture: Thus far since 2016, the discipline

has been steadily growing overall, with the

Architectural Billings Index creeping upward since

January of last year. Signs are indicating that the

profession has weathered the storm and is slowly

bouncing back to the revenue highs prior to the

2007 recession.

a)

Technology

b)

Revenue

c)

Demographics

d)

The Architect's Role

22.

Determine the Model for starting your design

firm. For some new firms, the booster rocket

comes in the form of a project for a family member

or one completed using family money.

a)

House for Mother.

b)

the Better Mousetrap

c)

Academic Incubator

d)

Major Client as First-Slags Booster Rocket

23.

Determine the type of business organization:

Conflicts between partners can disrupt business

operations.

a)

Partnership

b)

Corporation

c)

Sole Proprietorship

d)

Stock Corporation

24.

Determine the type of business organization.

The owner has complete control over all business

decision

a)

Stock Corporation

b)

Sole Proprietorship

c)

Corporation

d)

Partnership

25.

Determine the factors that affects the industry

of architecture: Mich the emergence and

subsequent wide spread adoption of three

dimensional technologies. like Google Earth and

SketchUp software, the profession has become

prime fodder for a technological revolution.

a)

The Architect's Role

b)

Technology

c)

Revenue

d)

Demographics

26.

Determine the offices organized under foreign

laws: An office that manages and oversees the

operations of the company's other offices or

subsidiaries in a specific geographic region. It

coordinates regional strategy and operations.

a)

Regional Headquarter

b)

Branch Office

c)

Regional Operating Headquarter

d)

Representative Office

27.

Determine the factors that affects the industry

of architecture: Records from the Bureau of Labor

Statistics Indicate that there were 112,600

architecture jobs in the United States in 2014. An

NCARB survey however, shows that there are only

107,581 licensed architects.

a)

Demographics

b)

The Architect's Role

c)

Revenue

d)

Technology

28.

Determine the factors that affects the industry

of architecture: The last 20 years of the

architectural industry have seen the diminishing

responsibility of the architect in the design and

construction process as other professionals enter

the picture.

a)

Revenue

b)

Demographics

c)

The Architect's Role

d)

Technology

29.

What is considered not a factor that affects the

industry o architecture?

a)

Revenues

b)

Technology.

c)

The Architect's Role

d)

Civil Engineering Work

30.

Determine the type of business organization: A legal entity separate from its owners

(shareholders). It can own property, incur liabilities, and sell stock.

a)

sole Proprietorship

b)

Corporation

c)

Partnership

d)

Branch Office:

31.

Determine the offices organized under foreign

laws Cannot engage in direct commercial or

revenue-generating activities.

a)

Regional Headquarter

b)

Branch Office

c)

Regional Operating Headquarter

d)

Representative Office

32.

Determine the type of business organization:

Shareholders' liability is limited to their investment

in the corporation

a)

Corporation

b)

Partnership

c)

Sole Proprietorship

d)

Branch Office

33.

Determine the type of business organization: A

corporation that does not issue shares of stock and

typically operates for non-profit purposes

a)

Stock Corporation

b)

Corporation

c)

Non-Stock Corporation

d)

Sole Proprietorship

34.

Determine the Model for starting your design

firm: When Brad's grandfather had to leave his

position as head of the drafting room of Burnham

and Root in the contraction after the 1893

Columbia Exposition, Daniel Burnham helped get

him his first commission.

a)

Spin-off

b)

Sponsor

c)

Golden Handshake

d)

Supersalesperson

35.

In a stock corporation, they are authorized to

distribute these to shareholders as surplus profits

on the basis of shares held

a)

Dividend

b)

Certificate of Ownership

c)

Land Title

d)

Stock

36.

Determine the type of business organization:

Profits are taxed only once at the owner's personal

income tax rate.

a)

Stock Corporation

b)

Corporation

c)

Sole Proprietorship

d)

Non-Stock Corporation

37.

Determine the type of business organization.

The business does not continue if the owner dies

or becomes incapacitated

a)

Sole proprietorship

b)

stock corporation

c)

non-stock corporation

38.

Determine the factors that affects the industry

of architecture: Salary.com indicates that the mean

salary for an entry level Architect position is

$47,639, This is in comparison to 885,014 for

Mechanical Engineer I and $68, 144 for Electrical

Engineer I. Even from matriculation, the value of

the architect is not seen as equivalent to the

engineering subconsultants that they hire.

a)

Revenue

b)

Technology

c)

The Architect's Role

d)

Demographics

39.

Determine the Model for starting your design

firm: This model is very complex because—as at

JFPA—it involves assuming substantial financial

liabilities, an established image, and an

established senior organizational structure.

a)

Phoenix

b)

Golden Handshake

c)

Supersalesperson

d)

Sponsor

40.

Determine the offices organized under foreign

laws: An extension of the parent company that

conducts business activities similar to those of the

parent company. If is not a separate legal entity but

rather an extension of the parent company

a)

Representative Office

b)

Regional Operating Headquarter

c)

Regional Headquarter

d)

Branch Office

41.

Determine the means of listening to clients:

workable structure for a professional firm user

group is as follows. A small (five to seven

participants) group of respected clients is asked

whether it would be prepared to attend periodic

meetings (two or three times a year) to discuss the

firm's service offerings in a particular area.

a)

Senior partner visits

b)

User groups

c)

Market research

d)

Attending client industry meetings

e)

Reverse seminars

42.

Determine what is feels like to be a client/buyer:

I'm not sure I know how to detect which of the

finalists is the genius, and which is just good. I've

exhausted my abilities to make technical

distinction.

a)

I'm feeling threatened.

b)

I'm taking a personal risk.

c)

I'm impatient.

d)

I'm feeling insecure.

43.

The term Unique Selling Proposition or USP is

a term developed by whom?

a)

Rosser Reeves of Ted Talks

b)

Rosser Reeves of Ted Bates and Company

c)

Roger Sleeve of Ted Blake

d)

Roster Jack of Ted Blake and Co

44.

Determine the client service quality program

front: many firms have, particularly in recent years,

instituted various means of obtaining feedback

from clients, including such approaches as

engagement team debriefings, occasional

managing partner visits, and so on.

a)

Training

b)

Measurements

c)

Management

d)

Rewards

e)

Tips and tools

45.

What is the First Law of Service?

a)

Satisfaction equals Expectation minus Perception

b)

Perception equals Satisfaction plus Expectation

c)

Expectation equals Perception minus Satisfaction

d)

Satisfaction equals Perception minus Expectation

46.

Determine what is feels like to be a client/buyer:

Whoever I hire, I'm going to have to reveal some

proprietary secrets, not all of which are flattering. I

will have to undress.

a)

I'm impatient

b)

I'm taking a personal risk

c)

I'm exposed

d)

I'm feeling insecure

47.

Determine the practice development steps:

Effective word of mouth only results when the

client is delighted and eager to work with the

individual again.

a)

Istening

b)

Courting

c)

Nurturing

d)

Broadcasting

e)

Superpleasing

48.

Determine the basic marketing strategies known

as the A'Ps: Is there a demand for the product or

service?

a)

Promotion

b)

Product

c)

Place

d)

Price

49.

Determine the client service quality program

front: each partner and member of the

engagement team receives a cop of their client's

response. The managing partner should examine

each response and discuss the individual relies

with the engagement partner (or engagement

team).

a)

Training

b)

Rewards

c)

management

d)

tips and tools

e)

Measurements

50.

Determine the practice development steps:

otherwise known as "gathering market intelligence”

a)

Listening

b)

Broadcasting

c)

courting

d)

nurturing

51.

Determine the practice development steps:

Clients do not like to be taken for granted, and they

expect their "suppliers" to invest visibly in the

relationship to earn future business.

a)

Listening

b)

Superpleasing

c)

Courting

d)

Nurturing

52.

Which of the following is part of the first team as

marketing tactics?

a)

Direct mails

b)

Brochures

c)

Publicity

d)

Proprietary research

53.

Determine the means of listening to clients: A

valuable opportunity to listen to clients talk about

their challenges, interests and needs is to go

where they go to discuss such subjects, that is, to

their industry or trade meetings.

a)

Market research

b)

Reverse seminars

c)

Senior partner visits

d)

attending client industry meetings

54.

Determine the basic marketing strategies

known as the 4'Ps: Can the company make a profit?

a)

price

b)

product

c)

place

d)

promotion

55.

Which does not form among the 5 rules in

choosing a company name?

a)

A winning company name may include

information about what your company does.

b)

A winning company name should have a

positive connotation.

c)

A winning company name has to be fairly long.

d)

A winning company name needs a visual

element

56.

Determine the client service quality program

front: Skill-building programs will require the

identification of classic client situations, the

development of role-play scripts, and the design of

materials. In some firms, these include a critique of

current programs on "how to handle a meeting."

"presentation skills," and the like

a)

Rewards

b)

training

c)

management

d)

tips and tools

57.

Determine the client Service quality program

front: many firms have, particularly in recent years,

instituted various means of obtaining feedback

from clients, including such approaches as

engagement team debriefings, occasional

managing partner visits, and so on.

a)

management

b)

tips and tools

c)

training

d)

measurements

58.

In Generating Leads. this forms part of what

marketing channels: family and friends

a)

Personal networks

b)

Pro bono

c)

social media

d)

writing

59.

Determining the marketing tactics: If the goal

of marketing is to demonstrate that you have

something to offer that your competitors do not,

conducting research on topics of interest to

prospective clients is an obvious, if neglected, tool.

a)

Proprietary research

b)

Seminars (small-scale)

c)

Articles in client oriented (trade) press

d)

Speeches at client industry meetings

60.

Determine the practice development steps:

includes all those activities that generate leads,

enquiries, and opportunities with new clients

a)

Nurturing

b)

Broadcasting

c)

Courting

d)

Listening

61.

Determine the basic marketing strategies known

as the 4'Ps: Storage. Warehousing. Transporting

a)

Promotion

b)

Product

c)

Price

d)

Place

62.

According to the journal article written by Adedapo Oluwatayo, which among the following is not part of the consideration in choosing an architect?

a)

Acquaintance with the Architect

b)

Construction Budgeting

c)

Budget

d)

Prominence of the Architect

63.

Determine the practice development steps:

Highest ROl, which caters to existing clients,

aware of a new need

a)

Nurturing

b)

listerning

c)

superpleasing

d)

courting

64.

Determine the means of listening to clients: A

major, and common, form of listening to clients is

a more or less formal program of visits to key

clients by senior partners of the firm

a)

Attending client industry meetings

b)

Reverse seminars

c)

Senior partner visits

d)

User groups

65.

Determine the practice development steps:

This activity is traditionally called selling and

proposing, but such words fail to capture what is

truly required.

a)

Courting

b)

Listening

c)

Superpleasing

d)

Nurturing

66.

Which of the following is part of the first team

as marketing tactics?

a)

Seminars (small-scale)

b)

Community/civic activities

c)

Networking with potential referral sources

d)

Newsletters

67.

Determine the means of listening to clients: If

a seminar is where the professional firm invites a

group of clients together and talks to them, where

the firm invites the client executive to come and

talk to the members of the firm.

a)

Reverse seminars

b)

User groups

c)

Market research

d)

Senior partner visits

68.

According to the journal article written by Adedapo Oluwatayo, which among the following is not part of the consideration in choosing an architect?

a)

Responsiveness of the Architect

b)

Personality of the Architect

c)

Service Quality of the Architect

d)

Prominence of the Architect

69.

Determine the basic marketing strategies

known as the 4'Ps: Distribution is getting the right

product to the right place at the right time in the

right amount and in the right condition

a)

Place

b)

Promotion

c)

Price

d)

Product

70.

Determine the client service quality program

front: The final step in a full-service quality program

is ensuring that those who excel in this area (as

revealed by client satisfaction scores) are

rewarded, and those who do not are penalized in

some way

a)

tips and tools

b)

training

c)

rewards

d)

measurements

71.

According to the journal article written by Adedapo Oluwatayo, personal relationship as a variable is part of which variable?

a)

Budget

b)

Responsiveness of the Architect

c)

Prominence of Architect

d)

Personality of Architect

72.

In Generating Leads, this forms part of what

marketing channels: Google AdWords, print

a)

Directory listings

b)

Paid Advertising

c)

Design Competition

d)

Personal networks

73.

Determine the client service quality program

front: each partner and member of the

engagement team receives a copy of their client's

response. The managing partner should examine

each response and discuss the individual replies

with the engagement partner (or engagement

team).

a)

training

b)

Tips and tools

c)

Measurements

d)

Management

74.

Determine what is feels like to be a

client/buyer: This is my area of responsibility, and

even though intellectually I know I need outside

expertise, emotionally it's not comfortable to put

my affairs in the hands of others.

a)

I'm impatient.

b)

I'm feeling threatened.

c)

I'm feeling insecure.

d)

I'm taking a personal risk.

75.

Determine the practice development steps:

Lowest ROl which caters to prospective client, not

aware of a new need

a)

Listening

b)

Courting

c)

Broadcasting

d)

Broadcasting

76.

Which of the following is not part of the second

string as marketing tactics?

a)

Networking with potential referral sources

b)

Community/civic activities

c)

Newsletters

d)

Advertising

77.

Determine the practice development steps: By

definition, broadcasting, activities, which include

such things as seminars, articles, newsletters, and

speeches, have more than one person in the

audience.

a)

Courting

b)

Broadcasting

c)

Listening

d)

Superpleasings

78.

Determine the client service quality program

front: Skill-building programs will require the

identification of classic client situations, the

development of role-play scripts, and the design of

materials. In some firms, these include a critique of

current programs on "how to handle a meeting,"

"presentation skills," and the like

a)

training

b)

measurement

c)

rewards

d)

tips and tools

79.

In Generating Leads. this forms part of what

marketing channels: Facebook, Pinterest, Houzz,

Twitter

a)

Social Media

b)

Professional Networks

c)

Publications

d)

Design Competition

80.

Determine the client service quality program

front: The final step in a full-service quality program

is ensuring that those who excel in this area (as

revealed by client satisfaction scores) are

rewarded, and those who do not are penalized in

some way

a)

Management

b)

Measurements

c)

Rewards

d)

training

81.

Accounting method that recognizes revenue

when payment is received in cash, and that

recognizes expense when cash is disbursed.

a)

Cash Accounting

b)

Accrual Accounting

c)

Projectile Accounting

d)

Financial Management

82.

What happens to the company's asset, liabilities, and owners equity in the following

scenario: The contractor purchases equipment on an installment basis

a)

Asset increases, liability increases

b)

Asset increases, Equity increases

c)

Asset decreases, liability decreases

d)

Asset decreases, equity decreases

83.

Determine if Asset, Liabilities, or Equity:

Investment by Owner

a)

Liability

b)

equity

c)

asset

d)

asset

84.

What happens to the company's asset, liabilities, and owners equity in the following

scenario: The principal architect withdraws cash to purchase gaming chair for the architectural firm

a)

Asset decreases, asset increases

b)

Asset increases, no effect in liability and equity

c)

Asset decreases, equity decreases

d)

No effect

85.

What happens to the company's asset,

liabilities, and owners equity in the following

scenario: The principal architect receives

downpayment from client without presenting any

plans or drawings.

a)

Asset decreases, equity decreases

b)

Asset increases, Equity increases

c)

Asset increases, liability increases

d)

Asset decreases, liability decreases

86.

Which is not a source of capital?

a)

Loans from relative

b)

small business administration

c)

none of the above

d)

Personal savings

87.

Project related expenses that, by agreement

with the client are to be directly reimbursed.

a)

Direct expense

b)

. Reimbursable Expense

c)

Indirect Expense

88.

The junior architect request cash to print a

tarpaulin for a specific project. What do you call

this expense?

a)

Direct expense

b)

Reimbursable expense

c)

Indirect expense

d)

Miscellaneous expense

89.

Expense items paid in operating the business

that are not chargeable to specific projects;

collectively often called overhead.

a)

Expense

b)

Indirect expense

c)

Direct expense

d)

Reimbursable expenses

90.

The junior architect request cash to purchase.

A3 sized paper for their presentation the next

morning. What do you call this expense?

a)

Indirect expense

b)

Direct Expense

91.

What happens to the company's asset,

liabilities, and owners equity in the following

scenario: The junior architect request cash to

purchase A3 sized paper for their presentation the

next morning.

a)

Asset increases, equity increases

b)

Asset decreases, liability decreases

c)

Asset decreases, equity decreases

d)

Asset increases, liability increases

92.

Value generated by the firm's employees,

excluding value attributable to consultants or to

nonlabor project expenses for reproductions,

travel, and so on.

a)

Net worth

b)

Liabilities

c)

Net revenues

d)

Income Statement

93.

An engineer is paid for his consultation on a

certain project. What do you call this expense?

a)

Indirect expense

b)

direct expense

c)

reimburssable expense

94.

How long is advised duration to convert

account receivable into cash in an architectural firm?

a)

30 Days

b)

13 Days

c)

30 Months

d)

13 Months

95.

How do you treat the utilities expense in

accounting?

a)

Direct expense

b)

Indirect expense

96.

Revenue remaining after direct and indirect

expenses.

a)

Operating Cost

b)

Operating Income

97.

Which is not a source of capital?

a)

None of the above

b)

PAG-IBIG loan

c)

personal credit cards

d)

commercial loans

98.

Which is not a consideration when preparing

for a capital?

a)

legal and accounting assistance

b)

b. None of the above

c)

Acquisition of office space

d)

Furniture, fixtures, and equipment

99.

When the draftsman made use of the

company's car to visit 3 project, how do you treat

the expense in accounting?

a)

Direct expense

b)

Indirect expense

100.

Determine if Asset, Liabilities, or Equity:

Accounts Receivable

a)

equity

b)

liability

c)

asset

101.

Determine if Asset, Liabilities, or Equity: Notes

Payable

a)

asset

b)

liability

c)

equity

102.

Costs that can be charged to specific projects.

Included are the costs of staff working on the

project, outside consultants, and other costs

associated with the project such as printing, travel,

and long distance communication.

a)

expense

b)

indirect expense

c)

direct expense

d)

reimbursable expense

103.

The junior architect requested cash for

company car's fuel as he will visit a project in

Bukidnon. What do you call this expense?

a)

direct expense

b)

indirect expense

104.

When the draftsman made use of the

company's car to visit his assigned project, how do

you treat the expense in accounting?

a)

direct expense

b)

indirect expense

105.

.What happens to the company's asset,

liabilities, and owners equity in the following

scenario: The principal architect earns profit as a

researcher for an institution.

a)

Asset decreases, equity decreases

b)

no revenue recorded

c)

Asset decreases, no effect in equity

d)

Asset increases, no effect in equity

106.

Determine if Asset, Liabilities, or Equity:

Equipment

a)

asset

b)

liabiloity

c)

equity

107.

What happens to the company's asset,

liabilities, and owners equity in the following

scenario: A new partner joins the company and

puts 100,000 pesos in cash as an investment

a)

Asset decreases, equity decreases

b)

Asset increases, equity increases

c)

Asset increases, equity decreases

d)

Asset decreases, equity decreases

108.

The value of the owners' equity in the firm;

basically, assets less liabilities: in a proprietorship,

the proprietor's capital account; in a partnership,

the total of the partners' capital accounts; in a corporation, the total of capital stock, plus paid in

capital, plus retained earnings.

a)

Net Revenues

b)

Income statement

c)

Net worth

109.

Determine if Asset, Liabilities, or Equity: Cash

a)

asset

b)

liability

c)

equity

110.

What happens to the company's asset,

liabilities, and owners equity in the following scenario: A withdrawal by the owner at the end of the moth ending December 2024

a)

Asset increases, equity decreases

b)

Liabilities increases, equity decreases

c)

Asset decreases, equity decreases

d)

Liabilities decreases, equity decreases

111.

Which is not shown in the income statement?

a)

Accounts Receivable

b)

Expenses

c)

Disbursement

d)

Revenue

112.

Accounting method that recognizes revenues

as having been earned when services are

performed and that recognizes expenses when

they are incurred, without regard to when cash is

received or disbursed.

a)

Financial Management

b)

Projectile Accounting

c)

Cash Accounting

d)

Accrual Accounting

113.

Which is not shown in the balance sheet?

a)

Revenue

b)

Asset

c)

Liability

d)

Networth

114.

The junior architect requested cash for

company car's fuel as he will visit 5 sites later.

What do you call this expense?

a)

Direct expense

b)

Indirect expense

115.

What is a method established to reflect the true

financial performance of a firm during a specific

period of time by matching revenue earned with

expenses incurred.

a)

Accrual Accounting

b)

Cash Accpunting

116.

Determine if Asset, Liabilities, or Equity: Salary

Expense

a)

Liability

b)

Asset

c)

Equity

117.

The cost to operate the firm, including salaries,

rent, supplies, and so on, usually expressed as a

monthly total.

a)

Accounts Payable

b)

Operating Cost

c)

Direct Expense

d)

Indirect expense

118.

Determine if Asset, Liabilities, or Equity:

Unearned Revenue

a)

Liability

b)

Asset

c)

Equity

119.

How do you treat the consultants' fee when

running an architectural firm?

a)

expense

b)

revenue

120.

How do you treat the office draftman's salary in

accounting?

a)

Direct expense

b)

Indirect expense