Q.1
What is the basic accounting equation?
Q.2
What is a secondary book of accounts, the information of which is obtained from the journal is called?
Q.3
A young engineer borrowed P 10,000 at 12% interest and paid P 2,000 per annum for the last 4 years. What does he have to pay at the end of the fifth year in order to pay off his loan?
Q.4
What type of bond is issued jointly by two or more corporations?
Q.5
A telephone switchboard 100 pair cable can be made up with either enameled wire or tinned wire. There will be 400 soldered connections. The cost of soldering a connection on the enameled wire will be P 1.65 on the tinned wire, it will be P 1.15. A 100- pair cable made up with enameled wire cost P 0.55 per linear foot and those made up of tinned wire cost P 0.75 per linear foot. Determine the length of cable run in feet so that the cost of each installation would be the same.
Q.6
By the condition of a will, the sum of P20,000 is left to a girl to be held in trust fund by her guardian until it amounts to P50,000. When will the girl receive the money if fund invested at 8% compounded quarterly?
Q.7
What do you call a one-time credit against taxes?
Q.8
A feasibility study shows that a fixed capital investment of P10,000,000 is required for a proposed construction firm and an estimated working capital of P2,000,000. Annual depreciation is estimated to be10% of the fixed capital investment. Determine the rate of return on the total investment if the annual profit is P3,500,000.
Q.9
What is the type of annuity that does not have a fixed time span but continues indefinitely or forever?
Q.10
What is a government bond which has an indefinite life rather than a specific maturity?
Q.11
Earnings per share is the most important ratio for
Q.12
What rate of interest compounded annually is the same as the rate of interest of 8% compounded quarterly?
Q.13
In year zero, you invest P 10,000.00 in a 15% security for 5 years. During that time, the average annual inflation is 6%. How much in terms of year zero pesos will be in the account at maturity?
Q.14
If there are many sellers and few buyers, the market situation is _________ .
Q.15
What is defined as any tangible economic product that contributes directly or indirectly to the satisfaction of human want?
Q.16
All the proceeds which are received by the business as a result of the sale of goods is called ______.
Q.17
The price at which the callable bond will be redeemed from the bondholder is called ______.
Q.18
Aggregation of individuals formed for the purpose of conducting a business and recognized by law as a fictitious person is called ______.
Q.19
The ratio of current assets to current liabilities is known as
Q.20
Current assets less inventories divided by current liabilities is known as
Q.21
What is defined as any tangible economic activity that contributes directly or indirectly to the satisfaction of human want?
Q.22
What refers to the claim of anyone to ownership?
Q.23
Which is NOT an essential element of an ordinary annuity?
Q.24
A type of bond to which are attached coupons indicating the interest due and the date when such interest is to be paid is called ______.
Q.25
The unrecovered depreciation which results due to poor estimates as to the life of the equipment is called ______.
Q.26
A VOM has a selling price of P 400. If its selling price is expected to decline at a rate of 10% per annum due to obsolescence, what will be its selling price after 5 years?
Q.27
The monthly demand for ice cans being manufactured by Mr. Camus is 3200 pieces. With a manual operated guillotine, the unit cutting cost is P25.00. An electrically operated hydraulic guillotine was offered to Mr. Camus at a price of P275,000.00 and which cuts by 30% the unit cutting cost. Disregarding the cost of money, how many months will Mr. Camus be able to recover the cost of the machine if he decides to buy now?
Q.28
The key to profitable operation for project cost control, is:
Q.29
What is an accounting term that represents an inventory account adjustment?
Q.30
Current ratio is:
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