LET: TLE Part 18

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This is the Multiples Choice Questions Part 18 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 18

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: c

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 simply means we need ______.

a. money

b. calculations

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: b

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 the 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 reports are Liabilities and capital added?

a. Statement of cash flow

b. Statement of owners 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 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 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 payments of the firm

d. list 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 for the office; debit computer set, P65,000.00; credit is ______.

a. Accounts payable, P65,000.00

b. Capital, P65,000.00

c. Computer set expenses P65,000.00

d. Cash P65,000.00

Answer: d

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: c

16. Mr. Albert Patac bought and invested coffee Vending Machine worth P35,0000.00. Debit machine; machine credit ______.

a. Cash P35,000.00

b. A Patac, capital P35,000.00

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 account 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. loans payable

c. bonds payable

d. salaries

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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