FIRST TEST FOR THE THIRD QUARTER IN FUNDAMENTALS OF ACCOUNTANCY,

BUSINESS AND MANAGEMENT

Name:__________________________________________ Score:__________________
Strand & Sec.: ABM_____________ Date: _________________

PROCESS
LEARNING COMPETENCY:

1. Differentiate the branches of accounting

2. Explain the kind/type of services rendered in each of these branches
3. Compare and contrast the types of business according to activities
4. Differentiate the forms of business organization.

I. Differentiation: Give the difference between the two given items. Keep your answers
short and simple. (30 pts.)

1. Management Accounting and Financial Accounting

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2. External Auditing and Internal Auditing

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3. Public Accounting and Government Accounting

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 4. How does a sole proprietorship differ from a partnership?
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5. How does a partnership differ from a corporations?

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6. If you are given a chance to start a business, what form will it be and why?
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2
Briefly describe the following types of business according to activities and give at least 2
examples for each business. (12 pts.)

Service business

Types of Merchandising business

Businesses
according
to activities

Manufacturing business

LEARNING COMPETENCIES:
1. Define external users and give examples
2. Define internal users and give examples
3. Identify the type of decisions made by each user

II. IDENTIFICATION. Identify which user of accounting information makes the decisions
listed in the table below. Solve the scrambled words and write your answers in the
space provided. (10 pts.)

° LEMEEYPOS ° AXT TIROAHISTUE

° WEOSRN ° GAMESARN
° GROTEARLUY IBSODE ° VOSSINTRE
° TESMOCRUS ° DROTICSER
° PUPLISER ° BUILPC
1.

2. 3
3.
4.
 INTERNAL USERS EXTERNAL USERS
To know how to plan, To ensure that the company
organize, and run a is in accordance with rules
business. and regulations to protect
the interest of other users.
To decide whether to To determine whether the
increase or withdraw business has enough funds to
the capital they pay the goods to be
provided to the delivered or the services to
business. be rendered.

They assess the To decide whether they

company’s should invest or not in a
profitability and business.
stability, and its effect
on their future salary
and job security.
To assess the justification
behind the increase in prices
of goods.
To know if the business paid
the correct amount of taxes.

They assess the credit

worthiness and capability of
the business to pay its debts
with interests on due date.
To know how the business
helps the economy and
whether employment is
available in the company.

“Doing your best is more important than being the best.”

Prepared by: Approved by:

__________________________ __________________________
Ms. Florivee G. Erese Mrs. Melani T. Mariano
Subject Teacher Acting Head, Mathematics Department