Midterm Examination in Fundamentals of Accountancy Business Ang Management 2
Midterm Examination in Fundamentals of Accountancy Business Ang Management 2
REGION IX
Western Mindanao
A urora P ioneers M emor ial C ollege
(FORMERLY: Cebuano Barracks Institute )
Bonifacio St. Pob. Aurora Zamboanga Del Sur
Tel. No. : (062) 331-2332
MIDTERM EXAMINATION IN
FUNDAMENTALS OF ACCOUNTANCY BUSINESS ANG MANAGEMENT 2
Name:_______________________________Section:_____________Date:______________
TEST 2 – Identification
______________16. This covers the withdrawal of cash or any form of asset from the
business.
______________17. This pertains to debt secured from a financial institution by
mortgage or lien on real estate of the business or its proprietorship.
______________18. This refers to amount due to providers of water, electricity,
telephone and other basic services.
______________19. This covers loans obtained by the business from financial
institutions or private individuals and entities supported by promissory notes.
______________20. This refers to the debt of the business due to purchases of
products or services that are to be paid on a future date.
______________21. This is a deduction except for land from property,plant and
equipment.
______________22. These pertains to tables, chairs, cabinets, counters and other
types of furniture used in the business.
______________23. This refers to office equipment such as computer set, printer,
air conditioner, and delivery equipment.
______________24. These include various office or shop supplied that are necessary
in the operation of the business.
______________25. This is a contra account against accounts receivable
______________26. This pertains to claims of the business from customers for sales
of products or rendering of services.
______________27. This includes claims of the business from customers and third
parties that are evidenced by formal instruments of credit such as promissory
notes.
______________28. These include stocks of companies listed in the stock exchange
and are readily convertible into cash.
______________29. This refers to currencies, checks, money orders, bank deposits,
and other money equivalents.
______________30. What is the title of the module?
Prepared by: