BMAT 112 - by Rias - troduction to Accounting WHAT IS ACCOUNTING? “​Accounting is the process of PDF

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BMAT SHORT QUIZ 1Question 1 Write the statement in numerical form: five tenths and two hundredths. Answer:0 The correct answer is: 0.Question 2 The fraction 2/10 when converted into decimal will be considered as a Incorrecttype of decimal. This number has a infinite number of digits.The correct answ...

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BMAT SHORT QUIZ 1 Question 1Write the statement in numerical form: five tenths and two hundredths. Answer: 0.52 The correct answer is: 0.52 Question 2The fraction 2/10 when converted into decimal will be considered as a Incorrect type of decimal. This number has a infinite number of digits. The correct answer is: terminating You have ten pieces of five peso coins and 27 pieces of 25 centavo coins. How much do you have? d. Php56.75 You bought 25 cans of sardines worth Php20.25 each. How much is total cost?

Php506.25

Question 3Convert all decimals into simplified fractions, convert fractions into percentage, and percentage into decimals. 7/4 The correct answer is: 175% Question 4 Perform the following operations and convert all answers into decimal numbers, round off all answers to the nearest hundredths. (20%+50%+150%)-(50%+22%) = Answer The correct answer is: 1.48 Question 5 Perform the following operations and convert all answers into decimal numbers, round off all answers to the nearest hundredths. Don Cario's last will and testament states that his 11 hectares of land will be divided equally to his 4 sons. Each son will get ____ hectares of land. Answer: The correct answer is: 2.75 Question 6 Perform the following opearations and convert all answers into decimal numbers, round off all answers to the nearest hundredths. (1/4)+(1/10)+(2/4)-(3/5)-(9/10)+(10/5) = Answer1.35 The correct answer is: 1.35 Question 7 Convert the words into numerical form: Three halves Answer: 3/2 The correct answer is: 3/2 Question 8 Write the statement in numerical form: eight tenths, three hundredths and nine thousandths. Answer: 0.839 The correct answer is: 0.839

Question 9 True or False: A decimal number may have no decimal point. Answer: False correct answer is: FALSE Question 10 In order to have uniform answers, please follow the answer formats given. For ratio answers, simplify and use the format "X:X". For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. ABC Enterprise has a total current liabilities worth Php30,000 and has total assets worth Php100,000. What are the current assets to current debt ratio? The correct answer is: 10:3 Question 11 True or False: 3/3 is a proper fraction. Answer: False The correct answer is: FALSE Question 12 Convert the words into numerical form: One tenths and six thousandths Answer: 0.106 The correct answer is: 0.106 Question 13 Write TRUE if the mathematical equation is correct and FALSE if wrong. (1/5) ÷ (1/4) = 4/5 Answer: True The correct answer is: TRUE Question 14 In order to have uniform answers, please follow the answer formats given. For ratio answers, simplify and use the format "X:X". For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. ABC Enterprise has a net profit worth Php50,000. It has current assets worth Php20,000 and non-current assets worth Php30,000. What is the Net profit to total assets ratio? The correct answer is: 1:1 Question 15 The fraction 3/10 when converted into decimal will be considered as an incorrect type of decimal. This number does not have an infinite number of digits. The correct answer is: non-terminating Question 16 Write TRUE if the statement is mathematically correct and FALSE if wrong. Mr. A and Mr. B are partners in AB Normal Business. Mr. A receives 40% of the profit while Mr. B receives 60%. If the profit is Php85,000 Mr. B will receive Php34,000. Answer: False The correct answer is: FALSE Question 17 In order to have uniform answers, please follow the answer formats given. For ratio answers, simplify and use the format "X:X". For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part.

Mr. Soon loaned Php1,500,000 payable within 2 years with 15% annual interest rate. How much is the interest expense after a year? Answer: The correct answer is: Php225,000.00 Question 18 Perform the following operations and convert all answers into decimal numbers, round off all answers to the nearest hundredths. Answer using decimal numbers only, do not put currencies and measurements. Jolly Mouse is a fast food restaurant which sells spaghetti for Php35.50 each and salad Php25.75 each. Mr. Antonio bought 5 spaghettis and 5 salads. How much is his total bill? The correct answer is: 306.25 Question 19 Convert 1954% into its decimal form. 19.54 Correct The correct answer is: 19.54 Question 20 Write RATE if the statement describes a rate and RATIO if otherwise. ABC company's financial data indicates the business has good short-term debt paying ability. They have the ability to pay Php5.75 for every Php1 liability. The correct answer is: Ratio

LEARNING ACTIVITY 2 BMAT Question 1 In order to have uniform answers, please follow the answer format given. For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. Two men can finish painting a house within 10 days. If the total compensation or payment for the workers is Php9,451. How much will each men get? Answer: Php4,725.50 The correct answer is: Php4,725.50 Question 2 In order to have uniform answers, please follow the answer format given. For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. 100 pieces of souvenir items costs Php78,190. How much does each item cost? Answer: Php781.90 The correct answer is: Php781.90 Question 3 In order to have uniform answers, please follow the answer formats given. For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. Sulit Online store quoted a list price of P3,550 for one inkjet printer. There is a volume

discount of 10% if you will buy 5-10 printers and 15% discount if you will buy 11 printers and above. Your company decided to buy 11 printers. How much will be paid by the your company? Answer: Php33,192.50 The correct answer is: Php33,192.50 Question 4 In order to have uniform answers, please follow the answer format given. For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. John and Martha plans to buy a gift for their friend. If they will share the expenses equally, and John contributed Php150.25 how much is the total cost of the teddy bear? Answer: Php300.50 The correct answer is: Php300.50 Question 5 Write CC if the Buyer-to-Seller relationship described is Consumer-to-Consumer relationship; write BC if it describes Business-to-Consumer; and BB if Business-to-Business. A classroom student bought 10 pieces of paper to his seatmate. Answer: CC The correct answer is: CC Question 6 In order to have uniform answers, please follow the answer format given. For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part.

100 pieces of souvenir items costs Php78,190. How much will it cost you if you will buy only 35 items? Answer: Php27,366.50 The correct answer is: Php27,366.50 Question 7 Correct Write CC if the Buyer-to-Seller relationship described is Consumer-to-Consumer relationship; write BC if it describes Business-to-Consumer; and BB if Business-to-Business. Ms Paz has excessive supplies of rice. She sold some part to her neighbors. Answer: CC The correct answer is: CC Question 8 Correct In order to have uniform answers, please follow the answer format given. For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. Penny bought 2 melons for Php35. If she will buy only 1 one melon, how much will she pay?

Answer: Php17.50 The correct answer is: Php17.50 Question 9 In order to have uniform answers, please follow the answer formats given. For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. On Aug 1, 2016, Mr. Ben bought merchandise with an invoice of Php250,160.75 with terms 3/10, n/30. He paid his account on August 4, 2016. He also availed a trade discount of 20%. How much did he pay? Answer: Php196,126.03 The correct answer is: Php196,126.03 Question 10 In order to have uniform answers, please follow the answer format given. For currency answers, use the format "PhpX,XXX.XX", Use comma to separate thousands, and always give two decimal places for the centavo part. Mr. John, Ms. Chen and Mr. Tan are Partners in Business. Business profits are being shared 3:2:1 respectively. The total business profits to be divided by the three individuals is Php300,000. How much will Ms. Chen receive? Answer: Php100,000.00 The correct answer is: Php100,000.00

3RD QUARTER EXAMS BMAT WEEK 10 1. Mr. Jones loaned Php1,500,000 at 5% simple annual interest. How much is the interest expense for the first 3 months? a. Php75,000 b. Php18,750 c. Php25,000 d. Php7,500 The correct answer is: Php18,750 2. 100÷5%)+31%-(54%x31%) = _____a. 10,142.60 b. 2,000.14 Correct c. none of these d. 214.26 The correct answer is: 2,000.14 3. If the cost of 1 kg of sugar is Php20, then 3 kg of sugar is Php60. The statement describes a. Inverse Proportion b. Partitive c. Direct Proportion d. Indirect Proportion

The correct answer is: Direct Proportion 4. (55-5/5)+10/5-6/(10+5/7) is equal to a. 55.44 b. 4.11 c. 7.80 d. 46.14 The correct answer is: 55.44 5. On January 5, 2016, Mr. Ken bought merchandise with an invoice of P150,000 with terms 1/10, n/30. He paid on January 30, 2016. How much is the discount that he got? a. Php450b. Php1,500 c. none d. Php4,500

The correct answer is: none 6. Mr. Ken earns Php450 within 3 hours. How much will he earn if he works for 8 hours? a. Php1,350 b. Php1,200 c. Php950 d. Php1450 The correct answer is: Php1,200 7. Mr. Ken is a minimum wage earner. He earns Php175 for 5 hours of work. What is his hourly wage rate? a. Php45 per hour b. Php15 per hour c. Php175 per hour d. Php35 per hour The correct answer is: Php35 per hour 8. ABCD Company laws states that 10% of its monthly profits will be distributed and equally divided to its employees. ABCD has 30 employees and has earned a profit worth Php4,000,000. In an average, how much will each employee get? a. Php10,000 b. Php13,333.33 c. Php16,666.67 d. Php13,000 The correct answer is: Php13,333.33 9. John has Php75.25 on hand, his mother gave him candies worth Php5.75. How much money does John have? a. Php81.00 b. Php5.75 c. Php69.50 d. Php75.25 The correct answer is: Php75.25 10. Given data: Sales Php2,200,000; Cost of Sales Php875,000; Business Expenses 200,000; Tax rate 30%. How much is the net profit of the business? a. Php337,500 b. Php787,500 c. Php1,540,000 d. Php660,000 The correct answer is: Php787,500 11. Assume that ABCD Merchandise sold goods on Sept. 20 for P3,000, with terms 2/10, n/60. The buyer has paid immediately after 2 days, how much is the sales discount? a. Php300 b. Php1,800 c. Php60 d. Php90 The correct answer is: Php90 12. Madam Kurdapya died leaving her 220 hectares of land worth Php75,000,000 and other properties worth Php25,000,000. In her last will and testament, it was stipulated that 30% of the land will be given to the first child, 30% to the second child and 40% to the third child. The other properties will be given fully to the first child. What is the fraction of the first child's total inheritance from the total properties of his mother? a. 3/10 b. 47/100 c. 9/20 d. 19/40 The correct answer is: 19/40 13. The current retail price of Product B is Php200. The management decided to have a 20% markdown. What will be the new selling price of the product? a. Php160 b. Php180 c. Php170 d. Php160 The correct answer is: Php160 14. Which fraction has the greatest value a. 21/2 b. 1000/545 c. 105/25 d. 4/3 The correct answer is: 21/2 15. Mr. Am, Mr. Bis and Mr. Yoso are partners in AmBisYoso Business. They agreed to share profits in a ratio of 3:2:1 respectively. The business has net profit worth Php1,500,000. How much will Mr. Bis get? a. Php1,000,000 b. Php750,000 c. Php250,000 d. Php500,000 The correct answer is: Php500,000 16. John sells each slice at Php15.50. Assume that he sells at a constant rate of 3 slices per 10 minutes. If a pizza is sliced in eight parts, how many pizzas will be sold within 3 hours?

a. 720 b. 6.75 c. 11.25 d. 54 The correct answer is: 6.75 17. Mr. Pen, a high income generating individual proposed to Ms. Apple. One day after that, they were immediately married without pre-nuptial agreement. Eleven months after the marriage, out of his salary, Mr. Pen bought a house and lot worth Php1,500,000. This property is a considered as a conjugal property. Conjugal properties are owned equally by both the husband and the wife. One day later, Ms. Apple wants an annulment. If the annulment will be pushed, what is the value of the share of Mrs Apple in the house and lot? a. Php500,000 b. Php1,500,000 c. Php750,000 d. None The correct answer is: Php750,000 18. 10/12 is an example of a. none of these b. proper fraction c. mixed fraction d. improper fraction The correct answer is: proper fraction 19. If 6 men can paint our house in 18 days, 4 men can do the same job within 27 days. The statement describes a. Partitive b. Inverse Proportion c. Indirect Proportion d. Direct Proportion

The correct answer is: Inverse Proportion 20. Mr. Han bought merchandise with a total original price of P25,000 for. Because he purchased a large quantity he is entitled of the 20% discount. How much must he pay? a. Php21,500 b. Php20,000 c. Php20,108.80 d. Php19,750

The correct answer is: Php20,000 21. Mr. A, Mr. B and Mr. C invested a total of Php50,000 to open a store. Their ratio of their capital investment is 3:2:2, respectively. What kind of proportion is being described? a. Partitive b. Indirect Proportion c. Direct Proportion d. Inverse Proportion The correct answer is: Partitive 22. Which is not being used to represent a part of a whole? a. percentage b. discrete numbers c. fraction d. decimal The correct answer is: discrete numbers 23. John took an exam and got a score of 10 points. His score is 0.025 of the total points. How many points are there in the exam? a. 40 b. 25 c. 400 d. 250 The correct answer is: 400 24. Mr. Jones loaned Php1,500,000 at 5% simple annual interest. If the loan will be 2 years. What will be the total interest expense for the two year period? a. Php75,000 b. Php200,000 c. Php150,000 d. Php250,000 The correct answer is: Php150,000 25. A product costs Php50. Initial retail price was Php75, after a month, a 10% additional mark-up was integrated. What is the gross margin? a. Php31.25 b. Php32.50 c. Php25 d. Php7.50 The correct answer is: Php32.50

26. The cost of the Product X is Php 25. ABCD Merchandise initially sold it at Php30. After a week, the retail price was increased to Php35. The difference between Php35 and php25 is called as a. Mark-up b. Retail Price c. Gross Margin d. Mark-down The correct answer is: Gross Margin 27. ABCD Merchandise initially sold Product X at Php30. This statement describes a. Mark-down b. Retail Price c. Gross Margin d. Mark-up The correct answer is: Gross Margin 28. If the cost of 2 kg of sugar is Php48, then what would be the cost of 7 kg sugar? a. Php96 b. Php155 c. Php168 d. Php336 The correct answer is: Php168 29. If 6 men can make a house in 28 days, how long will it take 4 men to do the same job? a. 42 days b. 47 days c. 36days d. 19 days The correct answer is: 42 days 30. Mr. John, Ms. Chen and Mr. Tan are Partners in Business. Business profits are being shared 3:2:1 respectively. The total business profits to be divided by the three individuals is Php300,000. How much will Mr. Tan receive? a. Php50,000 b. Php150,000 c. Php100,000 d. Php200,000 The correct answer is: Php50,000 31. Mrs. Fe has USD50 on hand. If the current exchange rate is Php 47.55 per US Dollar. How much will she get if she will convert her money today? a. Php2,377.50 b. Php2,350 c. Php2,139.75 d. Php475.50 The correct answer is: Php2,377.50 32. One thousandths is an example of a. discrete numbers b. decimal c. percentage d. fraction The correct answer is: decimal

33. 4/4 is an example of a. none of these b. proper fraction c. mixed fraction d. improper fraction

The correct answer is: improper fraction 34. 5/2 is equivalent to a. 2.25 b. two and five tenths c. 10/6 d. 25% The correct answer is: two and five tenths 35. On January 5, 2016, Mr. Ken bought merchandise with an invoice of P150,000 with terms 1/10, n/30. He paid on January 10, 2016. How much is the discount that he got? a. Php4,500 b. none c. Php450 d. Php1,500 The correct answer is: Php1,500 36. In the month of September the retail price of the product is Php1,500. For the month October they had an additional mark-up of 10% based on the retail price. For the month of November they had another markup worth 10% of the October retail price. For the month of December they had 15% markdown based on the November retail price. What is the price of the product on December? a. Php2,722.50 b. Php1,542.75 c. Php1,815.25 d. Php1,575.00 The correct answer is: Php1,542.75 37. One and one fourth is an example of a. mixed fraction b. improper fraction c. none of these d. proper fraction The correct answer is: mixed fraction

38. Mr. Mat has USD12 on hand. He went to a money exchange center and converted his money into Php600. What is the current exchange rate expressed in Php/USD? a. Php60 per USD b. Php48 per USD c. Php120 per USD d. Php50 per USD The correct answer is: Php50 per USD 39. The return of merchandise that was bought, is governed by the rules set by a. Bureau of Internal Revenue b. Department of Trade and Industry c. Department of Education d. Department of Labor and Employment The correct answer is: Department of Trade and Industry 40. Mr. Mata and Ms. Lino are Partners in MataLino Merchandise. It was agreed that 30% of the profit will be given to Mr. Mata and the rest will go to Mr. Lino. The business has a total sales of Php200,000; Cost of sales is Php45,000 and business expenses were Php35,000. How much share in profit will Mr. Lino get? a. Php120,000 b. Php140,000 c. Php84,000 d. Php36,000 The correct answer is: Php84,000 41. ABCD Merchandise initially sold Product X at Php30. After a week, the retail price was increased to Php32. The difference between Php30 and Php32 is called as a. Mark-up b. Retail Price c. Mark-down d. Gross Margin The correct answer is: Mark-up 42. Mr. A, Mr. B and Mr. C are partners in ABC Business. They agreed to share profits in a ratio of 3:2:1 respectively. If the share of Mr. B in the profit is Php350,000. How much is the total profit? a. Php1,525,000 b. Php1,625,000 c. Php1,050,000 d. Php1,400,000 The correct answer is: Php1,050,000

43. Don Cario's last will and testament states that his 205 hectares of land will be divided equally to his 8 sons. Each son will get ____ hectares of land. a. 25.625 b. 21.252 c. 31.25 d. 25.63

The correct answer is: 25.625 44. ABC Merchandise has currently has 200 items of merchandise costing Php500 each. Currently, the business expenses already reached Php50,000. How much must be the selling price of the merchandise in order to have a profit of 50,000? a. Php1,000 b. Php850 c. Php1,125 d. Php1,250 The correct answer is: Php1,000 45. ABC Merchandise has currently has 200 items of merchandise costing Php500 each. Currently, the business expenses already reached Php50,000. How much must be the selling price of the merchandise in order to have a profit of 50,000? a. Php1,000 b. Php850 c. Php1,125 d. Php1,250 The correct answer is: Php1,000 46. Jenny has Php200 bill, she bought candies worth Php58.50. How much does she have left? a. Php258.50 b. Php58.50 c. Php141.50 d. Php200 The correct answer is: Php141.50 47. ABC Merchandise has currently has 200 items of merchandise costing Php500 each. Currently, the business expenses already reached Php50...