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Accounting Staff Written Exam

The document contains a 20 question written examination on accounting concepts for an applicant at CLA Manpower Services located in Davao City, Philippines. The examination covers topics such as financial statements, the accounting equation, debits and credits, adjusting entries for revenues and expenses, and balance sheet accounts. Applicants are tested on their knowledge of the income statement, balance sheet, statement of cash flows, accrual basis of accounting, accounting equation, assets, liabilities, debits, credits, and basic journal entries.

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4K views2 pages

Accounting Staff Written Exam

The document contains a 20 question written examination on accounting concepts for an applicant at CLA Manpower Services located in Davao City, Philippines. The examination covers topics such as financial statements, the accounting equation, debits and credits, adjusting entries for revenues and expenses, and balance sheet accounts. Applicants are tested on their knowledge of the income statement, balance sheet, statement of cash flows, accrual basis of accounting, accounting equation, assets, liabilities, debits, credits, and basic journal entries.

Uploaded by

cla manpowerservices
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

CLA Manpower Services

Km. 7 Cub-Cub, Brgy., Cabantian, Davao City


Email Add: [email protected]
Cel No Globe:09175131622 / Sun: 09338696847
Tel. No. : 082 – 222- 4644

Accounting Staff Written Examination

Applicant Name: _________________________________________ Date : ___________________

1.The financial statement that reports the revenues and expenses for a period of time such as a year or a
month is the
A. Balance Sheet B. Income Statement C. Statement of Cash Flows
2. The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a
specific date is the
A. Balance Sheet B. Income Statement C. Statement of Cash Flows
3.Under the accrual basis of accounting, revenues are reported in the accounting period when the
A. Cash Is Received B. Service or Goods Have Been Delivered
4. Under the accrual basis of accounting, expenses are reported in the accounting period when the
A. Cash Is Paid B. Expense Matches the Revenues or Is Used Up
5. Revenues minus expenses equals ____________________.
6. Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the
balance sheet and are referred to as _________.
7. Assets are usually reported on the balance sheet at which amount?
A. Cost B. Current Market Value C. Expected Selling Price
8. Obligations (amounts owed) are reported on the balance sheet and are referred to as _______________.
9. Liabilities often have the word __________________ in their account title.
10. Unearned Revenues is what type of account?
A. Asset B. Liability C. Stockholders' (Owner's) Equity
11. Accounting entries involve a minimum of how many accounts?
A. One B. Two C. Three
12. The listing of all of the accounts available for use in a company's accounting system is known as the
________________________.
13. Assets minus liabilities equals ______________________.
14. Which term is associated with "left" or "left-side"?
A. Debit B. Credit
15. Which term is associated with "right" or "right-side"?
A. Debit B. Credit
16. When cash is received, the account Cash will be
A. Debited B. Credited
17. When a company pays a bill, the account Cash will be
A. Debited B. Credited
18. What will usually cause an asset account to increase?
A. Debit B. Credit
19. What will usually cause the liability account Accounts Payable to increase?
A. Debit B. Credit
20. Entries to expenses such as Rent Expense are usually
A. Debits B. Credits

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