Republic of the Philippines

Department of Education
Region V
DIVISION OF NAGA
CONCEPCION PEQUEÑA NATIONAL HIGH SCHOOL
TLE GRADE 7 ZARA
BOOKKEEPING

NAME: ___________________________________________ GRADE & SECTION: _________________________

SUBJECT: _________________________________________ TIME & DATE: _____________________________

“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will spend its whole life
believing that it is stupid.” – Albert Einstein
TEST I. MULTIPLE CHOICE TEST _____ 6. The characteristic of entrepreneur that is able
INSTRUCTION: Read the following questions carefully. to anticipate trends, opportunities, and future
Write the CAPITAL LETTER of your correct answer on organizational challenges.
the blank provided before the number. A. Confident
B. Hard working
_____ 1. An organization which is engaged in the trade C. Forward-looking
of goods, services, or both to satisfy the consumers in D. Optimistic
order to make a profit
_____ 7. The characteristic of entrepreneur that is able
A. Entrepreneurship to create and come up with ingenious ideas and also
B. Business turn those ideas into profits.
C. Businessman A. Confident
D. Entrepreneur B. Creative
C. Forward-looking
_____ 2. A type of business ownership which the D. Optimistic
business is owned by a single person
A. Sole proprietorship _____ 8. The characteristic of entrepreneur that risks
B. Partnership everything in hope of achievement or accepts greater
C. Cooperative or group ownership potential or loss in decisions
D. Corporation A. Confident
B. Hard working
_____ 3. A type of business ownership which the C. Risk-taker
business is owned by two or more persons D. Optimistic
A. Sole proprietorship
B. Partnership _____ 9. This refers to recording the financial effects of
C. Cooperative or group ownership financial transactions only.
D. Corporation A. Bookkeeping
B. Business
_____ 4. A type of business ownership which a large C. Entrepreneurship
number of persons collectively own the enterprise and D. Enterprise
are involved in its activities
A. Sole proprietorship _____ 10. It is the book in which we write all the
B. Partnership money that comes in and goes out in our business.
C. Cooperative or group ownership A. Inventory record
D. Company B. Cash book
C. Bookkeeping
_____ 5. It refers to the process of creating new D. Record book
enterprise and bearing any of its risk.
A. Entrepreneurship _____ 11. This is the money that comes in or money
B. Business received by your business.
C. Businessman A. Income
D. Entrepreneur B. Expenses
C. Expenditures
D. Profit
 A. Right
_____ 12. This refers to the money that has been spent B. Left
on something. C. Middle
A. Income D. Side
B. Expenses
C. Expenditures _____ 15. Where in the cash book do you write the
D. Profit money that goes out?
A. Right
_____ 13. This refers to the financial gain, especially B. Left
the difference between the amount earned and the C. Middle
amount spent in buying, operating, or producing D. Side
something.
A. Income _____16. It keeps record of physical items that your
B. Expenses business has at any point in time, what has been
C. Expenditures added, and ho mush has left in your business.
D. Profit A. Cash book
B. Creditor book
_____ 14. Where in the cash book do you write the C. Debtor book
money that comes in? D. Inventory record

TEST II.
17-33
Instruction
Fill the cash book using the given data below.

Transaction:
1. July 15, 2019 sold 10 pcs of local planks for ₱5,000
2. July 16, 2019 sold 20pcs of local planks for ₱10,000
3. July 20, 2019 sold 15pcs of local planks for ₱7,500
4. July 15, 2019 purchased machinery for ₱5,000
5. July 18, 2019 made a payment of salary for ₱10,000

Date Money in Amount Date Money out Amount

(₱) (₱)

TOTAL: ₱ TOTAL: ₱

TEST III.
INSTRUCTION
Fill/Complete the inventory record using the given data below

COMPUTERS, PRINTERS, PROJECTORS, MICROPHONE

NO. DESCRIPTION BEGINNING PURCHASES SALES LOSS/ ENDING

(qty) USED (qty)
1. 5 10
2. 6 10
3. 7 10
4. 8 10

PREPARED BY: REDOM O. CANDELARIA, LPT

 CORRECTION KEY
7 ZARA (BOOKKEEPING)

1. B
2. A
3. B
4. C
5. A
6. C
7. B
8. C
9. A
10. B
11. A
12. B
13. D
14. B
15. A
16. D
17-33

Date Money in Amount Date Money out Amount

(₱) (₱)
JULY 15, SOLD 10PCS OF 5,000 JULY 15, PURCHASED 5,000
2019 LOCAL PLANKS 2019 MACHINERY
JULY 16, SOLD 20PCS OF 10,000 JULY 18, PAYMENT OF 10,000
2019 LOCAL PLANKS 2019 SALARY
JULY SOLD 15PCS OF 7,500
20,M2019 LOCAL PLANKS
TOTAL: ₱22,500 TOTAL: ₱15,000

34-50

NO. DESCRIPTION BEGINNING PURCHASES SALES LOSS/ ENDING

(qty) USED (qty)
1. COMPUTERS 5 5 10
2. PRINTERS 6 4 10
3. PROJECTORS 7 3 10
4. MICROPHONE 8 2 10