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Fabm2 Pre-Assessment

The document is a pre-assessment test for a student taking FABM2 (Foundations of Accounting and Bookkeeping 2) consisting of 14 multiple choice questions evaluating their knowledge of basic accounting and bookkeeping concepts. The student scored 7 out of 14 points. The assessment covered topics like debits and credits, the four basic financial statements, the accounting equation, and key terms like assets, liabilities, equity, and revenue.

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Gleire Anne Catambacan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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80 views6 pages

Fabm2 Pre-Assessment

The document is a pre-assessment test for a student taking FABM2 (Foundations of Accounting and Bookkeeping 2) consisting of 14 multiple choice questions evaluating their knowledge of basic accounting and bookkeeping concepts. The student scored 7 out of 14 points. The assessment covered topics like debits and credits, the four basic financial statements, the accounting equation, and key terms like assets, liabilities, equity, and revenue.

Uploaded by

Gleire Anne Catambacan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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8/31/22, 9:37 AM FABM2 PRE-ASSESSMENT

FABM2 PRE-ASSESSMENT Total points 7/14

This test is designed to evaluate your knowledge about FABM and Bookkeeping. Your
score will not be recorded.

The respondent's email (catambacan.gleireanne@ncba.edu.ph) was recorded on


submission of this form.

FABM 2 PRE-ASSESSMENT 7 of 14 points

 Kindly answer the pre-assessment honestly.

Decrease in Service Fee means _____________. * 1/1

Debit

Credit

Increase in Accounts Payable means ____________. * 1/1

Debit

Credit

https://docs.google.com/forms/d/e/1FAIpQLSfOhginWMnyOaX4OmvmOqDDwuyurg4KOdGrdQ3pHfTPZV8ftw/viewscore?vc=0&c=0&w=1&flr=0&view… 1/6
8/31/22, 9:37 AM FABM2 PRE-ASSESSMENT

These are the set of rules of guidelines one has to follow in preparing financial *0/1
reports.

Double-Entry System

Generally Accepted Accounting Principles

Bookkeeping Principles

Financial Statement Guidelines

 It is the process of recording, classifying, summarizing, and interpreting *1/1


financial statements.

Marketing

Bookkeeping

Accounting

Economics

It includes the money your company earns from selling goods and services * 0/1

Assets

Revenue

Equity
https://docs.google.com/forms/d/e/1FAIpQLSfOhginWMnyOaX4OmvmOqDDwuyurg4KOdGrdQ3pHfTPZV8ftw/viewscore?vc=0&c=0&w=1&flr=0&view… 2/6
8/31/22, 9:37 AM FABM2 PRE-ASSESSMENT
q y

Liabilities

A financial statement that reports a company's assets, liabilities and *1/1


shareholders' equity at a specific point in time, and provides a basis for
computing rates of return and evaluating its capital structure.

Income Statement

Balance Sheet

Capital Statement

Statement of Changes in Owner's Equity

The financial statement that shows whether a company is making profit or *0/1
loss for a given period.

Income Statement

Balance Sheet

Capital Statement

Statement of Changes in Owner's Equity

It is a book containing accounts in which the classified and summarized *0/1


information from the journals is posted as debits and credits.

Journal
https://docs.google.com/forms/d/e/1FAIpQLSfOhginWMnyOaX4OmvmOqDDwuyurg4KOdGrdQ3pHfTPZV8ftw/viewscore?vc=0&c=0&w=1&flr=0&view… 3/6
8/31/22, 9:37 AM FABM2 PRE-ASSESSMENT

Ledger

Financial Statements

Worksheet

Increase in PPE means ____________. * 1/1

Debit

Credit

The statement that reports the changes in company equity, from an opening *1/1
balance to and end of period balance.

Income Statement

Balance Sheet

Cash Flow Statement

Statement of Changes in Owner's Equity

It means recording the transactions in chronological order in a general book, a *0/1


book where all economic events are recorded

Journalizing

Ledger

Posting

Analyzing

https://docs.google.com/forms/d/e/1FAIpQLSfOhginWMnyOaX4OmvmOqDDwuyurg4KOdGrdQ3pHfTPZV8ftw/viewscore?vc=0&c=0&w=1&flr=0&view… 4/6
8/31/22, 9:37 AM FABM2 PRE-ASSESSMENT

It includes everything that your company bought and owns. * 1/1

Assets

Liabilities

Equity

Revenue

 A financial statement that summarizes the amount of cash and cash *0/1
equivalents entering and leaving a company.

Income Statement

Balance Sheet

Cash Flow Statement

Statement of Changes in Owner's Equity

It defines how much your business is currently worth. * 0/1

Assets

Revenue

Equity

https://docs.google.com/forms/d/e/1FAIpQLSfOhginWMnyOaX4OmvmOqDDwuyurg4KOdGrdQ3pHfTPZV8ftw/viewscore?vc=0&c=0&w=1&flr=0&view… 5/6
8/31/22, 9:37 AM FABM2 PRE-ASSESSMENT

Liabilities

This form was created inside of National College of Business and Arts.

 Forms

https://docs.google.com/forms/d/e/1FAIpQLSfOhginWMnyOaX4OmvmOqDDwuyurg4KOdGrdQ3pHfTPZV8ftw/viewscore?vc=0&c=0&w=1&flr=0&view… 6/6

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