MATHEMATICAL BUSINESS DECISIONS THAT MAKES ORDERLY DELINEATED SEQUENCES OF MATHEMATICAL OPERATIVES THAT LEAD TO A SOLUTIONS? A. COCEPTUAL MODEL B. QUANTITATIVE MODEL C. ALGORITHMS D. DECISIONS 2. EVERYDAY WE HAVE TO CALCULATE THE DISCOUNT OF SHOPPING MALL, ALLOCATE HOW MUCH FOR FOOD AND SHOPPING, AND WHEN WE GET A LOAN FROM THE BANK WE CALCULATE THE INTEREST. THAT SIMPLY MEANS WE NEED ___. A. MONEY B. CALCULATION C. MATHEMATICS D. PERCENTAGE 3. WHICH IS ALSO KNOWN AS QUANTITATIVE FINANCE THAT IS CONCERNED WITH FINANCIAL MARKETS AND TAKING OBSERVED MARKET PRICES AS INPUTS? A. MATHEMATICS IN MARKETING B. MATHEMATICAL FINANCE C. PERCENTAGE D. CALCULATION 4. WHAT FINANCIAL REPORTS REFLECT THE NET INCOME SALES? A. STATEMENT OF CASH FLOW B. BALANCE SHEET C. NET INCOME REPORT D. INCOME STATEMENT 5. WHAT IS THE REMAINDER AFTER ALL THE EXPENSES HAVE BEEN DEDUCTED FROM THE REVENUES? A. REPAIR INCOME B. GROSS INCOME C. NET INCOME D. SERVICE INCOME 6. ON WHAT FINANCIAL STATEMENTS ARE ASSETS THAT ARE USED IN OPERATION OF BUSINESS FOUND? A. INCOME STATEMENT B. STATEMENT OF OWNERS CAPITAL C. BALANCE SHEET D. STATEMENT OF CASH FLOW 7. THE SUM OF ALL THE EXPENSES FROM THE OPERATION OF THE BUSINESS CAN BE FOUND ON THE ___? A. BALANCE SHEET B. STATEMENT OF CASH FLOW C. INCOME STATEMENT D. STATEMENT OF OWNERS CAPITAL 8. TO WHICH FINANCIAL REPORT ARE LIABILITIES AND CAPITAL ADDED? A. STATEMENT OF CASH FLOW B. STATEMENT OF OWNERS CAPITAL C. INCOME STATEMENT D. BALANCE SHEET 9. WHAT FINANCIAL STATEMENT SHOWS ALL THE RECEIVED CASH FROM BOTH ONGOING OPERATIONS AND EXTERNAL INVESTMENT SOURCES? A. STATEMENT OF CASH FLOW B. STATEMENTS OF OWNERS CAPITAL C. INCOME STATEMENT D. BALANCE SHEET 10. THE EARNING POWER OF THE BUSINESS FIRM IS REPORTED ON THE ___. A. BALANCE SHEET B. INCOME STATEMENT C. STATEMENT OF CASH FLOWW D. STATEMENTS OF OWNERS CAPITAL 11. THE BALANCE SHEET PROVIDES THE INFORMATION ABOUT ___. A. ALL THE SALES OF THE FIRM B. ALL THE EXPENSES OF THE FIRM C. LIST OF THE CASH RECEIVED AND PAYMENTS OF THE FIRM D. LIST OF ALL THE ASSETS OF THE FIRM 12. RECORDING THE INCREASES OF INCOME OF A COMPUTER SHOP SHOULD BE WRITTEN ON THE ___ COLUMN. A. ASSETS B. INCOME C. CREDIT D. DEBIT 13. IN JOURNALIZING, THE OWNER’S WITHDRAWAL FROM HIS FIRM SHOULD BE WRITTEN ON THE ___. A. CAPITAL B. DEBIT C. CREDIT D. EXPENSES 14. WHEN A BUSINESS PURCHASED COMPUTER SET WORTH P65,000.00 FOR THE OFFICE; DEBIT COMPUTER SET p65,000.00;CREDIT IS ___. A. A/P P65,000.00 B. CAPITAL P65,000.00 C. COMPUTER SET EXPENSES P65,000.00 D. CASH, P65,000.00 15. MS. AILEEN RECEIVES HER PAYMENT FROM TUTOTIAL OF MRS. YAP’S SON; DEBIT, CASH; CREDIT,___. A. PAYMENT B. CASH C. FEE D. ASSET 16. MR ALBERT PATAC BOUGHT AND INVESTED COFFEE VENDING MACHINE WORTH P35,000.00. DEBIT,MACHINE;CREDIT, ___. A. CASH,P35,000.00 B. A. PATAC, CAPITAL, P35,000.00 C. ASSETS, P35,000.00 D. EXPENSES, P35,000.00 17. PURCHASED OFFICE SUPPLIES AND EQUIPMENT ON CREDIT ARE ___. A. DEBIT, OFFICE SUPPLIES; CREDIT, CASH B. DEBIT OFFICE SUPPLIES; CREDIT ACCOUNT PAYABLE C. DEBIT OFFICE SUPPLIES AND EQUIPMENT, CREDIT CASH D. DEBIT OFFICE SUPPLIES AND EQUIPMENT; CREDIT ACCOUNT PAYABLE 18. TO FIND THE CURRENT LIABILITY, ONE MUST LOOK AT THE ___. A. MORTAGE PAYABLE B. LOANS PAYABLE C. BONDS PAYABLE D. SALARIES PAYABLE 19. THE RESOURCES THAT A FIRM ACQUIRES TRHOUGH CREDITORS, IS CALLED ___. A. LIABILITY B. CAPITAL C. ASSETS D. INCOME 20. BUSINESS OWED THAT WILL BE DUE NOT TO EXCEED A YEAR IS REFERRED TO AS ___. A. CURRENT ASSET B. CURRENT LIABILITY C. FIXED ASSETS D. FIXED LIABILITY 21. WHICH IS OWED BY THE BUSINESS THAT REQUIRES PROMP PAYMENT? A. NON-CURRENT LIABILITY B. NON-CURRENT ASSET C. CURRENT ASSET D. CURRENT LIABILITY 22. WHICH REFERS TO BUSINESS OBLIGATION THAT REQUIRES 15 MONTHS OF PAYMENT? A. CURRENT LIABILITY B. LONG-TERM LIABILITY C. CURRENT ASSET D. LONG-TERM ASSET 23. WHICH OF THESE TERMS BEST APPLIES TO CURRENT ASSETS? A. ACCOUNTS RECEIVABLE B. ACCOUNTS PAYABLE C. NOTES RECEIVABLE D. NOTES PAYABLE 24. WHAT IS AN EXAMPLE OF NON- CURRENT ASSETS? A. PREPAID EXPENSES B. CASH IN THE BANK C. ACCOUNTS RECEIVABLE D. PROPERTIES AND EQUIPMENT 25. WHAT ARE RESOURCES OWNED FOR THE OPERATION OF THE BUSINESS? A. ASSETS B. LIABILITY C. CAPITAL D. EXPENSES 26. SOME RESOURCES OF THE FIRM ACQUIRED THEIR ASSETS THROUGH OBLIGATIONS. WHAT DOES THIS REFERS TO? A. EXPENSES B. ASSETS C. LIABILITY D. CAPITAL 27. AFTER A MONTH, MR. PATAC WAS ABLE TO GET ALL THE COINS HE EARNED FROM HIS COFFEE VENDING MACHINE WORTH P11,755.00 AND PAID HIS WATER BILL P750.00 AND ELECTRICITY P1,300.00. HOW MUCH IS MR. PATAC’S GROSS SALES? A. P 9,705.00 B. P10,455.00 C. P11,755.00 D. 11,005.00 28. HOW MUCH IS THE NET SALES OF MR. PATAC AFTER A MONTH OF HIS BUSINESS? A. P11,005.00 B. P10,455.00 C. P9,705.00 D. P11,755.00 29. MR. BOUGHT MOTORCYCLE WORTH P72,000.00 TO MONITOR HIS EXPANDING COFFEE VENDING MACHINE BUSINESS. AFTER FIVE(5) YEARS, THE SAID MOTORCYCLE WILL BECOME P15,000.00 IN VALUE. HOW MUCH IS HE GOING TO SET ASIDE PER MONTH FOR DEPRECIATION? A. P57,000.00 B. P11,400.00 C. P950.00 D. P850.00 30. GIVING 10% DEPRECIATION FOR THE 5 ADDITIONAL UNITS OF COFFEE VENDING MACHINE THAT IS WORTH P35,000.00 EACH, HOW MUCH IS THE DEPRECIATION COST OF EACH MACHINE? A. P17,500.00 B. P3,500.00 C. P 4,250.00 D. P1,750.00 31. WHAT IS THE TERMS THAT BEST DESCRIBES THE TOTAL OF CASH, PLUS PURCHASES, PLUS THE COSTUMERS OBLIGATION TO THE BUSINESS? A. ASSETS B. INVENTORY C. PROFIT D. LIABILITY 32. WHICH TERMS REFERS TO GROSS INCREASES IN OWNER’S EQUITY ARISING FROM THE INCREASE IN ASSETS RECEIVED IN EXCHANGE FOR THE DELIVERY OF GOODS OR SERVICES TO COSTUMERS? A. ASSETS B. LIABILITY C. INCOME D. EXPENSES 33. WHICH TERMS REFERS TO DECREASES IN OWNER’S EQUITY THAT INCREASES BECAUSE GOODS OR SERVICES ARE DELIVERED TO COSTUMERS? A. PROFIT B. EXPENSES C. EARNINGS D. REVENUE