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11.. The primary focus of accounting reports has been on meeting the needs of which of the following groups? a. National and local offices of the BIR b. Existing and potential investors, lenders and other creditors c. Managers of an entity d. Independent accountants 12. The overall objective of accounting reports is to provide information a. About an entity's assets, liabilities and capital b. About an entity's financial performance during a period c. That allows owners to assess management performance d. That is useful for decision making 13. Represents the equity or right of the owner for cash invested in the business. a. Assets c. Liabilities b. Capital d. Revenues 14. Evidence that support all business transactions. a. Printed forms c. Cash register slip b. Checks d. Check stub 15. May be defined as economic resources of a business that possess monetary values, and that it can be bought or sold. a. Assets c. Drawing b. Liabilities d. Owner's equity 16. Withdrawal of cash deposited in the bank are made by: a.. Issuance of check c. Issuance of check voucher b.. Issuance of official receipt d. Issuance of credit memo 17. Investment of cash and some non-cash assets a. Assets increased; other non-cash asset decreased b. Assets decreased; other non-cash asset decreased c. Asset decreased; other non-cash asset increased. d. Asset increased; other non-cash asset increased 18. Is an order to the bank signed by the person issuing it, to pay to bearer or order a certain sum of money. a. official receipts b. sales involice c. check d. cash register slip 19. These are issued every time the business receives cash. a. credit memo b. official receipt c. invoice d. deposit slip 20. Evidence that support all business transactions. a. checks b. printed forms c. cash register slips d. journal voucher

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