Entrepreneurship GOLD-12

MINDANAO MISSION ACADEMY

Accountancy, Business and Management
Final Examination
October 11-12, 2018

Name:_____________________________ Score:_______________
The LORD himself goes before you and will be with you; he will never leave you nor forsake you. Do not be afraid; do not be
discouraged.” Deuteronomy 31:8
Examination Rules:
a. Use Blue/Black ink ball pens only
b. Strictly No Erasures
c. Ask directly to the proctor if you have questions.
d. Talking to your seatmates while taking the exam is considered cheating.

I. True or False: Write True if the statement is correct, and False if the statement is wrong. Write your answers on the
space provided after each statement.

1. A finance person is a corporate planner who assesses where the funds should go, and what action programs should be
undertaken. ____________
2. The job of a finance person is to remain the company financially liquid and solvent.__________
3. All finance manager must begin with the customer’s wants and desires in mind.__________
4. The transformation process or throughput system is what differentiates a well-managed from a poorly-managed
EDS.___________
5. The OWF must be very efficient in terms of time, movement, and utilization of resources.__________
6. Operations proper is concern with designing and developing the EDS, choosing the operations site and the technology to be
used, planning, and programming production of goods.__________
7. The operations functions can perform well without soliciting and getting the support of all the other units of the enterprise.
__________
8. The Quality, Delivery, and Price expectations of customers must be matched with the Quality, Deliver, and Productivity
measurement, monitoring and evaluation system at every stage of the Enterprise Delivery System.______________
9. One work of a finance officer is the cash and treasury management in which he/she In charge of collecting all corporate
information and generating all the numbers needed for translation into accounting entries, financial reports, and management
control and information systems.__________
10. Operations managers and supervisors orchestrate and control the entire EDS.____________

II. Identification: Identify the cross functional support services of a company by writing it inside the boxes.

III.
Posting to the ledger: Post the journalized transaction in Column A to the ledger (T-Accounts) of Column B.

Column A
Entrepreneurship GOLD-12
Column B
1. Cash 33,000
C, Capital 33,000
2. Purchases 13,500
Cash 13,500
3. Salaries Expense 5,000
Cash 5,000
4. Rent Expense 3,000
Cash 3,000
5. Cash 22,345
Sales 22,345
6. Purchases 8,760
Cash 8,760
7. Cash 15,890
Sales 15,890
8. Utilities Expense 1,080
Cash 1,080

IV. Trial Balance and Income Statement Income Statement

A. Using the information from test III column B, Prepare a

Trial Balance. Use the table below for your answers.

Trial Balance

Account title Debit Credit

TOTAL

B. Using the information from the trial balance, prepare an

Income Statement. Use the Box below for your answers.