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  • BAED-FABM2121 Fundamentals of Accountancy, Business and Management 2

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    Glynness Quiros
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    This document contains 10 multiple choice questions from a study on fundamentals of accountancy, business, and management. The questions cover topics like the statement of financial position (also known as a balance sheet), noncurrent assets, GAAP (General Accepted Accounting Principles), the cost accountant's role, the entity principle, differences between an income statement and statement of financial position, and the definition of current assets. Students were asked to select the correct answer from given choices for each question.

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    This document contains 10 multiple choice questions from a study on fundamentals of accountancy, business, and management. The questions cover topics like the statement of financial position (also known as a balance sheet), noncurrent assets, GAAP (General Accepted Accounting Principles), the cost accountant's role, the entity principle, differences between an income statement and statement of financial position, and the definition of current assets. Students were asked to select the correct answer from given choices for each question.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    437 views5 pages

    BAED-FABM2121 Fundamentals of Accountancy, Business and Management 2

    Uploaded by

    Glynness Quiros
    This document contains 10 multiple choice questions from a study on fundamentals of accountancy, business, and management. The questions cover topics like the statement of financial position (also known as a balance sheet), noncurrent assets, GAAP (General Accepted Accounting Principles), the cost accountant's role, the entity principle, differences between an income statement and statement of financial position, and the definition of current assets. Students were asked to select the correct answer from given choices for each question.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 5

    BAED-FABM2121 Fundamentals of

    Accountancy , Business and Management 2


    1. Home
    2. My courses
    3. BAED-FABM2121-2112S
    4. Week 3: Statement of Financial Position II
    5. Written Work 1

    Question 1
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    Question text
    SFP is also the Balance sheet.
    Select one:
    True
    False

    Question 2
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    Question text
    Noncurrent assets are assets that are expected to be used within 12 months.
    Select one:
    True
    False

    Question 3
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    This study source was downloaded by 100000790978460 from CourseHero.com on 01-25-2022 05:10:05 GMT -06:00

    https://www.coursehero.com/file/115791843/fabm-10docx/
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    Question text
    Meaning of GAAP
    Select one:

    a.
    Partnership

    b.
    Financial Character

    c.
    General Accepted Accounting Principles

    d.
    Government Accounting
    Clear my choice

    Question 4
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    Question text
    The cost accountant handles Management Accounting.
    Select one:
    True
    False

    Question 5
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    Question text
    Entity principle separate business from personal transactions.
    Select one:
    True
    False

    Question 6
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    Question text
    Income statement is another term for the Statement of Financial Position.
    Select one:
    True
    False

    Question 7
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    Question text
    The Statement of Financial Position commonly adopts the Calendar Year.
    Select one:
    True
    False

    Question 8
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    This study source was downloaded by 100000790978460 from CourseHero.com on 01-25-2022 05:10:05 GMT -06:00

    https://www.coursehero.com/file/115791843/fabm-10docx/
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    Question text
    The language of business
    Select one:

    a.
    Accounting

    b.
    Corporate code

    c.
    Service business

    d.
    Fiscal year
    Clear my choice

    Question 9
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    Question text
    Cash and cash equivalents are current assets.
    Select one:
    True
    False

    Question 10
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    Question text
    Also known as Time Period Concept
    Select one:

    a.
    Periodicity

    b.
    Accounting

    c.
    Fiscal year

    d.
    Service business
    Clear my choice

    This study source was downloaded by 100000790978460 from CourseHero.com on 01-25-2022 05:10:05 GMT -06:00

    https://www.coursehero.com/file/115791843/fabm-10docx/
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