Exam in Tle
Valenzuela Nationwide High School
Third Periodical Exam
Technology and Livelihood Education - Simple Bookkeeping and Accounting S. Y. 2011 – 2012
I. Multiple Choice: Directions: Read and analyze the questions thoroughly and write down thier letter with the correct answer on your solution sheet.
1 ) What columnar sheet of paper can be used to summarize data needed to prepare the financial statements in the business? a. General Journalc. Trial Stability
b. General Ledgerd. Worksheet
installment payments on your Posting may be the process of transferring information from what? a. Ledger for the financial statementsc. Ledger for the trial harmony b. Record to the ledgerd. Journal to the trial harmony 3. What is the process of adding column of figures and recording the temporary counts using a pen? a. Adjustingc. Footing
b. Closingd. Journalizing
4. Why do accountants record orders in the journal? a. To make sure that all ventures are submitted to the ledger. b. To experience a chronological record of all ventures.
c. To make sure that total debits equal total credits.
g. To help make the economic statements.
a few. Which with the following may be the purpose of the trial balance? a. Velocity the collection of cash receipts from customers.
n. Ensure that every transactions have been recorded.
c. Indicate whether total debits equal total credits.
deb. Increase resources and owner's equity.
6th. The getting of earnings that is not received in cash is noted as what? a. Debit to Income and Credit rating to Accounts Receivable
n. Debit to Accounts Receivable and Credit rating to Income
c. Charge to Accounts Payable and Credit to Revenue
m. Debit to Cash and Credit to Revenue
7. It gives the original trial balance as well as or minus the adjustments. a. Adjusted Trial Balancec. Unadjusted Balance Sheet
b. Unadjusted Trial Balanced. Adjusted Income Statement 8. What cycle is performed and...