NAME: SCORE:

IA : DATE:

1. is a listing of the names of the accounts that a company

has identified and made available for recording transactions.
a. TABLE c. CHART
b. LIST D. BOARD

2. All companies/organizations have the same Chart of Accounts.

a. TRUE b. FALSE

3. Which Account is NOT included in the CHART OF ACCOUNTS?

a. REVENUE c. BREAK EVEN
b. EXPENSE d. ASSETS

4. NIA’s Chart of Accounts for IAs only uses EXPENSE and REVENUE accounts.
a. FALSE b. TRUE

5. CROP DUES collection is the IA’s .

a. INCOME c. PROFIT
b. EXPENSE d. LOSS
6. An organized process of regulating or supervising IA Business transactions
through regular and timely audit.
a. Financial Control System c. Financial Audit System
b. Financial Planning System d. Financial Recording System

7. INTERNAL CONTROL is the system employed within an IA to safeguard its

assets and check the reliability of its financial records.
a. TRUE b. FALSE

8. Which is an area of internal control?

a. Accounting Control c. Planning Control
b. Auditing Control d. Management Control

9. Amount of Petty cash the IA controls

a. P 5,000.00 c. P 2,000.00
b. P 3,000.00 d. P 10, 000.00

10. A document where the auditor indicates his findings in relation to records
and reports audited and substantiated with his remarks.
a. Financial Report c. Collection Report
b. Performance Report d. Audit Report