LET: TLE Part 13

This is the Multiples Choice Questions Part 13 of TLE. In preparation for the LET Exam, practice, and familiarize every question we have, it might be included in the actual examination. Good luck.

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TLE Part 13

1. Which term refers to mathematical business decision that makes orderly delineated sequences of mathematical operatives that leads to a solution?

a. Conceptual model

b. Quantitative model

c. Algorithms

d. Decision

Answer: b

2. Every day we have to calculate the discounted of shopping mall, allocate how much food and shopping and when we get a loan from the bank we calculate the interest. This simple means we need ______.

a. money

b. calculation

c. mathematics

d. percentage

Answer: c

3. Which is also known as Quantitative Finance that is concerned with financial markets and taking observed market prices as inputs?

a. Mathematical in marketing

b. Mathematical finance

c. Net Income Report

d. Income statement

Answer: b

4. What financial reports reflects the net income sales?

a. Statement of Cash flow

b. Balance Sheet

c. Net income report

d. Income Statement

Answer: d

5. What is the remainder after all the expenses have been deducted from revenues?

a. Repair income

b. Gross income

c. Net income

d. Service Income

Answer: c

6. On what financial statements are assets that are used in the operation of business found?

a. Income statement

b. Statement of owners capital

c. Balance sheet

d. Statement of Cash low

Answer: c

7. The sum of all the expenses from operation of the business can be found on the ______.

a. balance sheet

b. statement of cash flow

c. income statement

d. statement of owners capital

Answer: c

8. To which financial report are Liabilities and capital added?

a. Statement of cash flow

b. Statement of owners capital

c. Income statement

d. Balance sheet

Answer: d

9. What financial statement shows all the received cash from both ongoing operations and external investments sources?

a. Statement of cash flow

b. Statement of owners capital

c. Income Statement

d. Balance Sheet

Answer: a

10. The earning power of the business firm is reported on the _____.

a. Balance sheet

b. Income Statement

c. Statement of cash flow

d. Statement of owners capital

Answer: b

11. The balance sheet provides the information about ______.

a. all the sales of the firm

b. all the expenses of the firm

c. list of cash received and payment of the firm

d. kist of all assets of the firm

Answer: d

12. Recording the increase of income of a Computer Repair Shop should be written on the ______ column.

a. Asset

b. Income

c. Credit

d. Debit

Answer: c

13. In journalizing the, owner’s withdrawal from his firm should be written on the ______.

a. capital

b. debit

c. credit

d. expenses

Answer: b

14. When a business purchased computer set worth P65,000.00; credit is ______.

a. Account payable, P65,000.00

b. Capital, P65,000.00

c. Computer set expenses P 65,000.00

d. Cash P65,000.00

Answer: a

15. Ms. Alien receives her payment from tutorial of Mrs, Yap’s son; debit cash credit, ______.

a. payment

b. cash

c. fee

d. assets

Answer: a

16. Mr. Albert Patac bought and invested coffee Vending Machine worth P35,000.00. Debit machine; machine credit ______.

a. Cash P35,000.00

b. A Patac, capital P35,0000.00

c. Asset P35,000.00

d. Expenses, P35,000.00

Answer: b

17. Purchased office supplies and equipment on credit card are ______.

a. debit office, supplies, credit cash

b. debit office supplies, credit accounts payable

c. debit office supplies and equipment, credit cash

d. debit office supplies and equipment, credit accounts payable

Answer: d

18. To find the current liability, one must look at the _____.

a. mortgage payable

b. loan payable

c. bonds payable

d.  balance sheet

Answer: d

19. The resources that firm acquires through creditors is called ______.

a. liability

b. capital

c. assets

d. income

Answer: a

20. Business owned that will be due not to exceed a year is referred to as ______.

a. current asset

b. current liability

c. fixed asset

d. fixed liability

Answer: b

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