Test Name :

Course :
Basic Accounting Operations Module DATE:

1. What is the equity of a company composed of?

to capital cash b) bank cash
)
capital and profit for □ d) capital and stocks
c)
the year

2. Supplier accounts and bills payable are classified as

to) Assets b) Passives

□ c) Loss □ d) Revenue

3. Remuneration and fees accounts, to what classification do they

to Passive □ b) Assets
) s
□ d)
c) Result Loss Result Profit
correspond?

4. They are expenses necessary for the operation of the business. What type
to) Administration expenses □ b) Non-operating expenses
and
Sales
c) Operational result d) Result of the
of accounts does this definition correspond to? excersice

5. a company must pay remunerations for a total of $4,580,000, the AFP

pension contributions
They reach $565,020, health costs are $345,060. 2.4% of
unemployment insurance means $109,920, while disability insurance is
$52,360, considering only these values. What total expense for
remunerations the company must assume in the period

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 to $ 4580.000 b) $4.742.280
)
□ c) $4.925.060 □ d) $ 5.034.980

6. It must be stamped in the Internal Revenue Service and only the

remunerations that appear in it can be considered as expenses and
costs in the company's accounting. Which book does the previous text
refer to?
to) Diary b) Major

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8. When a client pays his debt or part of it, what accounting movement is generated?
to) charge to clients account b) charge to
suppliers account

c) credit to customer account □ d) credit to suppliers

account

□ a)

charge to the cash account □ b)

for $700,000

9. If a client owes $700,000 to the company, and pays 20% in cash, what accounting movement occurs?
charge to the cash
account for $140,000

□ c) credit to the cash account □ d) credit to the cash account

for 140,000 for 700,000

10. 400 units are purchased for $100. each, and then 300 units at $150. each, how much is the cost of sale if
600 units are sold by FIFO method
to) 60.000 b) 65.000

c) 70.000 d) 75.000

to) a square of the □ b)

stocks with output

11. What is a stock inventory?

box abox
square of the
stocks with the entry of

c) a digital inventory count □ d) a physical count of the

stock

12. in permanent inventory. What operation must be done to obtain the stock balance?
to) add sales and □ b) add initial balance and
subtract purchases subtract purchases

c) add purchases and d) add sales and subtract final

subtract sales balance

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13. If 700 units were purchased at $600. and 300. units at $700. How much is the average cost of inventory?
to) 600 b) 630

c) 650 d) 700

14. It is a commercial document that certifies a purchase-sale operation. What type of document does this definition
correspond to?
to) office Guide b) Purchase order

c) Price d) Bill

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15. When payment is made for a purchase transaction, what accounting movement occurs?
to) credit to customer account b) credit to suppliers
account

c) charge to customer □ d) charge to suppliers account

account

16. What is the form that must be submitted to the Internal Revenue Service at the time of starting

to form 29 □ b)
)
form 3600 □ d)
c)
activities in a company?
form 22

Form 4415

17. These are assets that will be settled within a period of no more than one year from the date of presentation
of the assets.

to)

fixed □ b)

□ d)
other assets

financial statements What type of assets does this definition correspond to?
currents

not current

18. An account has debits for $300,000 and credits for $180,000, the balance being in the ledger.
to) creditor for -120,000 b) creditor for 120,000

c) debtor for -120,000 d) debtor for 120,000

19. They are assets that will be liquidated within a period of no more than one year from the date of
presentation of the financial statements.
• a) fixed • b) others

c) currents d) non-current

20. Double entry is derived from the inventory equation. How is this concept interpreted?
to) the debit is greater than the credit b) the debit is equal to the credit

c) credit is greater than debt d) credit is half of debt

21. If the total assets are 8,200,000, the total liabilities are 4,600,000, and the capital is 2,400,000, how much is
the

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 to 800.000 □ b)
)

Result of the excersice?

1.000.00
0
□ c) 1.200.000 □ d) 1.400.00
0

22. How should the charges be for a credit balance to occur in an account?
□ a) c) less than the fertilizers □ b) d) greater than the fertilizers

same as fertilizers is not related to the

fertilizers

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 to passiv □ b)
) e
□ d)
c) complementary of passive
23. What type of account is Estimation of doubts
asset

complementary asset

24. If an asset has a value of 20,000,000, a residual value of 500,000 and a useful life of 6 years, how much is

to 3.000.000 □ b)
)

its annual depreciation?

3.250.000.

□ c) 3.333.333 □ d) 3.500.000

25. In which book should the invoices issued be recorded?

to sales □ b) diary
)
c) shopping d) remunerations

26. The assets of a company are represented by:

to Assets and property b) economic resources held by
)
rights thereof, the company, material and
economic resources, whether human resources
or not
not in his power

27. The liabilities of a company represent:

to the company's obligations b) the rights and obligations
)
to deliver money that the company has

c) the company's obligations □ d) the obligations and rights of

with third parties and their the company with its
owners owners

to an entry to the credit of an □ b)

)
account
28. one charge is:
an entry to the balance of an
account

□ c) a debit entry on an account □ d) an entry to the credit of

One account

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 to) an entry to the credit of an □ b)
account
29. a fertilizer is:
a debit entry on an account

c) an entry to the balance of an d) a note to the debit of

account One account

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 to The balance sheet, the □ b)
)
Income Statement, the Cash
Flow Statement and the
Statement of Changes in
Shareholders' Equity.

30. What are the Basic Financial statements?

They are the balance sheets
that allow us to know the
financial situation of the
company at a given time.

c) They are the balance sheets d) The debts of a company

that allow us to know the
financial situation of the
company at a given time.

31. The tangible assets that the company owns, and that were acquired in order to be used in the
development of its operations, are classified in the Balance Sheet as:
a) deferred b) non-current assets
assets
c) current assets operating costs
d)

32. 1500 units of article SP01 and 1200 units of art have been invoiced. WC01 at $600. and $670. gross (VAT
included), respectively; considering an error in the price of art. WC01, which should have been $650; To
remedy this error you must make:
to credit note for 24,000 net b) credit note for 24,000
)
gross

□ c) debit note for 24,000 net □ d) debit note for 24,000

gross

33. The document used to support the transfer of merchandise and assets of fixed assets that do not constitute a

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 sale is:
a) invoice b) credit note

□ c) debit note □ d) dispatch guide

34. Represents an account receivable, product of sales made under simple credit.

to suppliers b) creditors
)
sales □ d) customers
c)

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35. The accounting literature tells us that there are main accounting records and auxiliary accounting
records.
Therefore, of the following alternatives, which correspond to the so-called main accounting records?

to Purchases and sales book, □ b) Daily book, general ledger or

)
fee and withholding book. current account book and
balance book

□ c) American accounting book, d) Inventory and balance sheet,

purchase and sales book General ledger and Purchases

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Keys and Answers
1. c 10. c 19. c 28. c
2. b 11. d 20. b 29. t
o
3. c 12. c 21. c 30. t
o
4. to 13. b 22. to 31. b
5. b 14. d 23. d 32. b
6. c 15. d 24. b 33. d
7. to 16. d 25. to 34. d
8. c 17. b 26. to 35. b
9. b 18. d 27. c

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