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    BASIC ACCOUNTING EXAMINATION Part 2

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    JOHN CESAR CATONER
    Accounting Reviewer 2

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    BASIC ACCOUNTING EXAMINATION Part 2

    Uploaded by

    JOHN CESAR CATONER
    9 views2 pages
    Accounting Reviewer 2

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    BASIC ACCOUNTING EXAMINATION part 2

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    Accounting Reviewer 2

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    Download as docx, pdf, or txt
    9 views2 pages

    BASIC ACCOUNTING EXAMINATION Part 2

    Uploaded by

    JOHN CESAR CATONER
    Accounting Reviewer 2

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    BASIC ACCOUNTING EXAMINATION

    Baco Community College


    Poblacion, Baco, Oriental Mindoro

    Name:________________________________________
    Section: ______________________________________

    TEST IV. IDENTIFICATION


    Direction: Answer the questions correctly. Write the answers in the space provided for.

    ____________________1. The preparation of the accountant of its client’s income tax returns, business
    and transfer taxes.
    ____________________2. A type of education which involves teaching accounting, taxation and some
    business subject.
    ____________________3. AICPA stands for American ______________ of Certified Public Accountant.
    ____________________4. The process of communicating economic information, measuring and
    identifying.
    ____________________5. It provides internal control to secure and ensure that unauthorized use of
    business property shall not made.
    ____________________6. The external users of accounting information.
    ____________________7. The conceptual and logical part of the service activity.
    ____________________8. It answers the question HOW TRUE.
    ____________________9. It provides assistance to the management
    ____________________10. Deals with the determining the operational efficiency of the company.
    ____________________11. Revenue – Expenses =
    ____________________12. Language of business to know if there are excess cash available for
    investment opportunities.
    ____________________13. Language of business to know how much borrowed capital and owners’
    capital are invested in the business.
    ___________________14. It concerned with the systematic analysis of recorded business transactions
    and events.
    ___________________15. The second of the final functions of the accounting.
    ___________________16. It is involved in providing professional services particularly in performing
    tasks.
    ___________________17. Accounting serves as a means of communication
    ___________________18. Involves presenting the classified data in a manner which is understandable
    and useful to the end users.
    ____________________19. Users of Accounting Information (Internal)
    ____________________20. Users of Accounting Information (External)

    TEST V. ENUMERATION
    1-5: The Language of Business
    6-8: Functions of Accounting
    9-10: Final Function of Accounting
    11-12: Liabilities + __________________ = Assets
    13-15: Functions of Accounting
    16-20: Basic Professional Values and Ethics

    TEST VI: ABREVIATIONS


    1. AAA = _________________________________________________________________________
    2. ASC = _________________________________________________________________________
    3. AICPA = ________________________________________________________________________
    4. PICPA= ________________________________________________________________________
    5. SEC = _________________________________________________________________________

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