What is defined as any tangible economic activity that contributes directly or indirectly to the satisfaction of human want? Commodities Services Goods or commodities Goods TRUE ANSWER : ? YOUR ANSWER : ?
“Under conditions of perfect competition, the price at which any given product will be supplied and purchased is the price that will result in the supply and the demand being equal.” This statement is known as the: Law of demand Law of diminishing return Law of supply Law of supply and demand TRUE ANSWER : ? YOUR ANSWER : ?
A factory operator bought a diesel generator set for P 10,000.00 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the debt for principal and interest. What is the annual payment? P 2,504.57 P 2,540.56 P 2,544.45 P 2,500.57 TRUE ANSWER : ? YOUR ANSWER : ?
A man invested P110,000 for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually. 0.115 0.1195 0.1232 0.1175 TRUE ANSWER : ? YOUR ANSWER : ?
The common ratio is the ratio of: Net income to owner’s equity Gross profit to net sales Current assets to current liabilities Net credit sales to average net receivable TRUE ANSWER : ? YOUR ANSWER : ?
The ability to convert assets to cash quickly is known as ______. Leverage Liquidity Insolvency Solvency TRUE ANSWER : ? YOUR ANSWER : ?
The ability to meet debts as they become due is known as ______. Solvency Insolvency Liquidity Leverage TRUE ANSWER : ? YOUR ANSWER : ?
Which is NOT an essential element of an ordinary annuity? The first payment is made at the beginning of the first period. The payments are made at equal interval of time. Compound interest is paid on all amounts in the annuity. The amounts of all payments are equal. TRUE ANSWER : ? YOUR ANSWER : ?
All are classified under direct labor expenses EXCEPT one. Which one? Inspection cost Testing cost Assembly cost Supervision cost TRUE ANSWER : ? YOUR ANSWER : ?
The depletion allowance method of computing depletion is commonly known as ______. Unit method Sinking fund method Factor method Percentage method TRUE ANSWER : ? YOUR ANSWER : ?