Scribd Logo
Upload

Welcome to Scribd!

  • 137 views

    Q4 - SUMMATIVE TEST - Entrepreneurship - WEEK 7&8

    Uploaded by

    Kimberly Rose Giron
    The document is a test on entrepreneurship topics for students of Fernando Air Base Integrated National High School. It contains multiple choice and fill-in-the-blank questions about basic accounting concepts like accounts, ledgers, expenses, revenues and financial statements. It also includes a short case study about a computer repair business and requires calculating expenses, revenues and filling in a simple transaction table for July 2020. The test is intended to assess students' understanding of foundational entrepreneurship and accounting concepts discussed in their 4th quarter lessons.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Q4 - SUMMATIVE TEST - Entrepreneurship - WEEK 7&8

    Uploaded by

    Kimberly Rose Giron
    137 views3 pages
    The document is a test on entrepreneurship topics for students of Fernando Air Base Integrated National High School. It contains multiple choice and fill-in-the-blank questions about basic accounting concepts like accounts, ledgers, expenses, revenues and financial statements. It also includes a short case study about a computer repair business and requires calculating expenses, revenues and filling in a simple transaction table for July 2020. The test is intended to assess students' understanding of foundational entrepreneurship and accounting concepts discussed in their 4th quarter lessons.

    Original Title

    Q4_SUMMATIVE TEST_Entrepreneurship -WEEK 7&8-

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document is a test on entrepreneurship topics for students of Fernando Air Base Integrated National High School. It contains multiple choice and fill-in-the-blank questions about basic accounting concepts like accounts, ledgers, expenses, revenues and financial statements. It also includes a short case study about a computer repair business and requires calculating expenses, revenues and filling in a simple transaction table for July 2020. The test is intended to assess students' understanding of foundational entrepreneurship and accounting concepts discussed in their 4th quarter lessons.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    137 views3 pages

    Q4 - SUMMATIVE TEST - Entrepreneurship - WEEK 7&8

    Uploaded by

    Kimberly Rose Giron
    The document is a test on entrepreneurship topics for students of Fernando Air Base Integrated National High School. It contains multiple choice and fill-in-the-blank questions about basic accounting concepts like accounts, ledgers, expenses, revenues and financial statements. It also includes a short case study about a computer repair business and requires calculating expenses, revenues and filling in a simple transaction table for July 2020. The test is intended to assess students' understanding of foundational entrepreneurship and accounting concepts discussed in their 4th quarter lessons.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Republic of the Philippines

    Department of Education
    REGION IV-A CALABARZON
    SCHOOLS DIVISION OF LIPA CITY
    FERNANDO AIR BASE INTEGRATED NATIONAL HIGH SCHOOL
    FERNANDO AIR BASE, LIPA CITY

    ENTREPRENEURSHIP
    4th Summative Test
    4 Quarter (Weeks 7-8)
    TH

    2nd Semester
    SY 2021 – 2022

    Name: _____________________________________ Score: ____________


    Grade Level/Section: __________________________ Date: _____________

    I. Read and understand the following. Choose and encircle the correct answer.

    1. A source document evidencing those orders have been placed by the customer waiting to be served by the supplier.
    A. Purchase request B. Purchase invoice C. Purchase order D. Purchase check
    2. A source document evidencing those goods have been delivered by the supplier to the customer.
    A. Customer’s delivery receipt B. Customer’s sales invoice C. Supplier’s sales invoice D. Vale slip
    3. A source document issued by the supplier acknowledging that full payment has been received from the customer.
    A. Delivery receipt B. Official receipt. C. Purchase receipt D. Receiving report
    4. Referred to as the book of original entry
    A. Accounts Receivable Ledger B. Journal C. Ledger D. Purchase Journal
    5. A source document which shows that the customer has already made partial payment to the supplier through issuance of.
    A. Check B. Official receipt C. Sales invoice D. Voucher
    6. An example of asset that can be used in the business for a long period of time,usually more than a year.
    A. Cash B. Computer C. Inventories D. Receivables
    For no. 7-9 Read and solve the following.
    The following are financial records of Lex Luther Corp.

    7. How much is the total expenses?


    A. P19,000.00 B. P10,000.00 C. P18,000.00 D. P9,000.00
    8. How much is the net income?
    A. P59,000.00 B. P50,000.00 C. P 31,000.00 D. P56,000.00
    9. How much is the total revenue?
    A. P59,000.00 B. P50,000.00 C. P31,000.00 D. P75,000.00
    10. One of the account titles below is used in making an adjusting entry. Which is one is it?
    A. asset B. capital C. liability D. prepaid insurance
    11. All the following are examples of source documents, except
    A. Check B. Contract C. Invoices D. Journal
    12. Which of the following statement is true?
    A. Book of Accounts are book of accounts composed of the Journal and Ledger
    B. Journal Referred to as the book of final entry
    C. Ledger Referred to as the book of original entry.
    D. Journal is the most basic journal which provides columns for date, account titles and explanations, folio or references and
    a separate column for debit and credit entries.
    II. Fill in blanks to complete the following statements:
    13. __________ is an employee of the company in charge to maintain bookkeeping records of the business.
    14. __________ is considered the book of original entry.
    15. __________ is considered the book of final entry.
    16. __________ is the most convenient and fastest way of posting journal entries to the ledger. This account is divided into two sides.
    17. __________ contains the detail for all invoices received from suppliers.
    18. __________ is a group of accounts directly associated from the general ledger.

    Address: Fernando Air Base, Lipa City


    Contact number: (043)774-2093
    Email Add: [email protected]
    Republic of the Philippines
    Department of Education
    REGION IV-A CALABARZON
    SCHOOLS DIVISION OF LIPA CITY
    FERNANDO AIR BASE INTEGRATED NATIONAL HIGH SCHOOL
    FERNANDO AIR BASE, LIPA CITY
    For 19-20. Read and understand the following. Answer the given questions.
    19. If you are the owner of the business, is payment of employee salaries an expense? yes, or no? then Why?

    20. Fill in the table to complete the data of the following.


    Ms. Juliana Chloe Neri opened her computer repair business in Cagayan de Oro City on July 14, 2020. The following transactions occurred
    during the month of July 2020:

    Prepared by:

    MAVELLE A. FAMORCAN KIMBERLY ROSE F. GIRON LEY-AN R. LLAN


    Teacher I Teacher I Teacher I

    RIZAMAY A. MINDANAO IRISH SOLOMON


    Teacher II Teacher II

    Checked by:

    ELMA H. ILAGAN
    Master Teacher II

    Noted by:

    LEONIDES V. KUNDANGAN
    Assistant Principal II

    Address: Fernando Air Base, Lipa City


    Contact number: (043)774-2093
    Email Add: [email protected]
    Republic of the Philippines
    Department of Education
    REGION IV-A CALABARZON
    SCHOOLS DIVISION OF LIPA CITY
    FERNANDO AIR BASE INTEGRATED NATIONAL HIGH SCHOOL
    FERNANDO AIR BASE, LIPA CITY

    Address: Fernando Air Base, Lipa City


    Contact number: (043)774-2093
    Email Add: [email protected]

    You might also like