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TEST I. MULTIPLE CHOICE DIRECTIONS: Read and understand the statements carefully. Choose the BEST answer. Write the letter of your answer. (2 points each) 1. A business corporation spends more on which of the following operating expenses? A. Rent Expense B. Interest expenses C Depreciation expense D. Salaries and wages expenses 2. What should a company present to financial institutions if they plan to avail funds? A. Historical financial statements B. Projected financial statements C. Comparative financial statements D. Horizontal and Vertical analysis of comparative financial statements 3. Which one is NOT part of the capital structure? A. Assets B. Equity C. Liabilities D. None of the above 4. Mr. Boone projected that they can achieve the 10,000 units of boxes on or before the year-end considering their available raw materials. What characteristic of an effective plan refers to the situation? A. Specific B. Realistic C. Achievable D. Time-related 5. Refer to ADM Manufacturing Corporation sales budget in Lesson 4. If the assumption, the company projected a 15% quarterly income, what are the total sales for the second quarter? A. P220,000 B. 230,000 CP 264,500 D. P 304,175 6. Refer to ADM Manufacturing Corporation production budget in Lesson 4. What would be the beginning inventory in the first quarter of 2022? A. 50 B. 100 C. 50 units D. 100 units 7. Refer to ADM Manufacturing Corporation cash budget in Lesson 4. How much are the total payments for purchases if the cost per unit in the 2nd quarter increases from 250 to 75 and no other assumptions were made? A. P102,500 B. 165,000 C212,500 D. 275,000 TEST I. MULTIPLE CHOICE DIRECTIONS: Read and understand the statements carefully. Choose the BEST answer. Write the letter of your answer. (2 points each) 1. A business corporation spends more on which of the following operating expenses? A. Rent Expense B. Interest expenses C Depreciation expense D. Salaries and wages expenses 2. What should a company present to financial institutions if they plan to avail funds? A. Historical financial statements B. Projected financial statements C. Comparative financial statements D. Horizontal and Vertical analysis of comparative financial statements 3. Which one is NOT part of the capital structure? A. Assets B. Equity C. Liabilities D. None of the above 4. Mr. Boone projected that they can achieve the 10,000 units of boxes on or before the year-end considering their available raw materials. What characteristic of an effective plan refers to the situation? A. Specific B. Realistic C. Achievable D. Time-related 5. Refer to ADM Manufacturing Corporation sales budget in Lesson 4. If the assumption, the company projected a 15% quarterly income, what are the total sales for the second quarter? A. P220,000 B. 230,000 CP 264,500 D. P 304,175 6. Refer to ADM Manufacturing Corporation production budget in Lesson 4. What would be the beginning inventory in the first quarter of 2022? A. 50 B. 100 C. 50 units D. 100 units 7. Refer to ADM Manufacturing Corporation cash budget in Lesson 4. How much are the total payments for purchases if the cost per unit in the 2nd quarter increases from 250 to 75 and no other assumptions were made? A. P102,500 B. 165,000 C212,500 D. 275,000