Bago muna kayo sumagot, basahin nyo muna 'to.

May mga sagot akong nailagay na 1st, 2nd, 3rd at

4th. Ang ibig sabihin mga iyon ay haba ng sentence. Pinakamahaba ay 1st at pinakamaiksi ay 4th. May
mga description din ako nailagay sa bawat question. Sa totoo lang, tinotopak tayo ng OED.
Pinaghirapan pa tayo, ginawa pa tayong timang. May nailagay akong tamang sagot na hindi naikorek
ng OED. Ang madalas sa ganun ay mga fill the blank.

Huwag na lang po kayo mareklamo kung hindi kayo nakaperfect dahil imposible. Ginawa ko tong
answer sheet para maging pasado kayo.

1.) Government agency gives a CPA certificate to an accountant after he passes a series of rigorous
examinations administered by the Board of Accountancy (BOA).

= PRC

2.) Which of the following statements are true? (Financial Statements)

= Both 1 and 2 [My dalawa ganitong tanong pero pareho ang kanilang sagot]

3.) The statement of financial position and the balance sheet are synonyms.

= True

4.) Which of the following is not true? (Accounting)

= 2nd

5.) An Italian mathematician and known as the father of modern accounting who introduced the
modern double-entry bookkeeping system in 1494 at Venice in Italy.

= Luca Pacioli [Hindi kinorek ng OED. Tama naman pero ewan ko ba kung bakit hindi kinorek]

6.) Private accounting, as a sub-discipline of accounting, includes:

= Management Accounting [Dobleng Tanong]

7.) Accounting deals with quantifiable information.

= True [Dobleng Tanong]

8.) Which of the following is not a part of the functions of the accounting system?

= Preparing....

9.) Person who manages all of a firm's accounting activities.

= Controller

10.) Choose the correct statement

= 4th [Dobleng Tanong]

11.) The chief accounting officer of a medium-sized or large business enterprise.

= Controller

12.) Which of the following is a mechanical aspect of accounting?

= Analyzing.... [Dobleng question]

13.) Certain assumptions are essential to prepare financial statements.

= True

14.) The basic function of financial accounting is to:

= Interpret.... [Nakadobleng tanong 'to]

15.) Accounting involves communication.

= True [Doblebg Tanong]

16.) Which is the last step of accounting as a process of information?

= Preparation [Dobleng Tanong]

17.) Accounting is the language of business.

= True [Dobleng Tanong]

18.) Which of the following would be classified as external users of financial statements?

= The creditors....

19.) ___ in the history of accounting this city is known as the city of commerce.

= Babylonia

20.) The term book keeping and accountancy can be used interchangeably.

= True

21.) This branch involves the preparation of tax returns and the rendering of tax advice to clients, such
as determination and verification of tax consequences, the effect of taxes in the business operations, tax
minimization through legal means, and the like.

= Tax Accounting

22.) Accounting is also defined as an "Information System" because?

= 1st

23.) Profit and Loss (P&L) statement is also known as

= Statement of Income

24.) Interpretation of Account is the

= All are correct answer

25.) Refers to the recording, presentation, and analysis of manufacturing costs.

= Cost Accounting

26.) Accounting is the process of matching

= Revenues and Costs

27.) Accounting and bookkeeping are synonymous.

= False

28.) Accounting aims to communicate financial information to investors only.

= False

29.) Which of the following is more appropriate definition for Accountancy?

= refers art of classifying.... [May 2 ganitong tanong. Isang multiple choice at isang fill the blank.]

30.) The area of accounting that relates to providing audit, tax, and consulting services to clients.

= Public Accounting

31.) Which of the following statement is not true?

= To be good accountant.... [Nakadoble tanong 'to]

32.) Which of the following statement is?not?correct?

= Being a bookkeeper requires the same kind of training and preparation as that of being an accountant.

33.) Which of the following statements are true? (Analysis)

= I, II, III

34.) The area of the accounting profession that deals with providing information to meet the needs of
the internal decision-makers.

= Management Accounting

35.) Accounting provides information on

= All of the correct answer are correct

36.) Public Accounting, as a sub-discipline of accounting, includes:

= Managerial Advisory Service [Dobleng Tanong]

37.) Accounting in modern age is regarded as?

= 1st

38.) ___ is the process which provides information needed as a basis of making business decisions.

= decision making