Senior High School Business Finance Module 1 Quiz
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Questions and Answers

According to Republic Act 8293, section 176, what is the status of copyright in any work of the Government of the Philippines?

  • Copyright shall not subsist, but exploitation for profit requires prior approval (correct)
  • Copyright shall subsist only for non-profit exploitation
  • Copyright shall not subsist and can be exploited without any approval
  • Copyright shall subsist without any conditions

    • What is one of the conditions that the government agency or office may impose for the exploitation of government work for profit?

  • Free distribution of the work
  • Mandatory public disclosure of the work
  • Payment of royalties (correct)
  • Exclusive rights to a private entity

    • Which of the following materials included in the module are owned by their respective copyright holders?

  • Songs and stories
  • Photos and brand names
  • Poems and pictures
  • All of the above (correct)

    • What is required if someone wants to exploit government work for profit?

    <p>Approval from any government agency or office</p> Signup and view all the answers

    What is the role of the publisher and authors regarding the borrowed materials included in the module?

    <p>They seek permission to use the materials but do not claim ownership over them</p> Signup and view all the answers

    In which specific section of Republic Act 8293 is it stated that no copyright shall subsist in any work of the Government of the Philippines?

    <p>Section 176</p> Signup and view all the answers

    What is the purpose of the Business Finance Alternative Delivery Mode (ADM) Module?

    <p>To engage learners in guided and independent learning activities</p> Signup and view all the answers

    Who collaborated in designing, developing, and reviewing the Business Finance ADM Module?

    <p>Educators from public and private institutions</p> Signup and view all the answers

    What does the hand symbolize in the learning resource?

    <p>Capability and empowerment of the learner</p> Signup and view all the answers

    What does the 'What I Know' part of the module include?

    <p>An activity to check what the learner already knows about the lesson</p> Signup and view all the answers

    Who is expected to orient the learners on how to use the module?

    <p>The facilitator</p> Signup and view all the answers

    What should the facilitator keep track of while using the module?

    <p>The learners' progress</p> Signup and view all the answers

    What is contained in the 'Notes to the Teacher' part of the module?

    <p>Helpful tips or strategies for guiding the learners</p> Signup and view all the answers

    In addition to the main text, what will learners see in the module?

    <p>A box containing helpful tips or strategies for guiding the learners</p> Signup and view all the answers

    What is the aim of the learning resource for the learners?

    <p>To engage in guided and independent learning at their own pace and time</p> Signup and view all the answers

    Where was this module printed?

    <p>Philippines by Department of Education – National Capital Region Office</p> Signup and view all the answers

    What is the purpose of a bank reconciliation statement?

    <p>To compare the cash balance of the business record with the amount of the bank statement</p> Signup and view all the answers

    What is the Book to Bank method for preparing a bank reconciliation statement?

    <p>A method that adjusts the book balance to agree with the bank balance</p> Signup and view all the answers

    What are Credit Memos in the context of a bank reconciliation statement?

    <p>Additions made by the bank to the account of the depositor, such as bank collections and interest income</p> Signup and view all the answers

    What is a common cause of discrepancy in a bank reconciliation statement?

    <p>Preventing both the company and the bank from recording transactions from the same period</p> Signup and view all the answers

    What is the Adjusted method for preparing a bank reconciliation statement?

    <p>A method that adjusts both balances per bank and per book to determine the correct cash balance separately</p> Signup and view all the answers

    What is a Bank Reconciliation Statement used for?

    <p>To reconcile two reciprocal accounts: cash balance per book report and cash per bank balance</p> Signup and view all the answers

    What is the meaning of NSF check in banking?

    <p>A check that was dishonored and returned by the bank due to insufficient funds</p> Signup and view all the answers

    What are 'Debit Memos' in banking typically used for?

    <p>Deducting fees such as bank service charges and returned check charges</p> Signup and view all the answers

    What are 'Reconciling Items per Bank' in accounting?

    <p>Amounts recorded by the company but not yet deposited with the bank</p> Signup and view all the answers

    What does 'Deposit in Transit' refer to in banking?

    <p>Amounts received and recorded by the company but not yet deposited with the bank</p> Signup and view all the answers

    What are 'Outstanding Checks' in banking?

    <p>Checks issued by the company but not yet encashed with the bank</p> Signup and view all the answers

    What are 'Book Errors' in accounting?

    <p>Items erroneously recorded by the company</p> Signup and view all the answers

    Study Notes

    • According to Republic Act 8293, Section 176, no copyright shall subsist in any work of the Government of the Philippines.
    • Government works can be exploited for profit, but the government agency or office may impose certain conditions.

    Module Ownership and Usage

    • The module includes materials owned by their respective copyright holders.
    • To exploit government work for profit, permission is required.
    • The publisher and authors are responsible for borrowed materials included in the module.

    Module Development and Purpose

    • The Business Finance Alternative Delivery Mode (ADM) Module was designed, developed, and reviewed by a collaborative effort.
    • The module's purpose is to provide a learning resource for business finance.

    Module Structure and Content

    • The 'What I Know' part of the module includes prior knowledge or experiences.
    • The facilitator is expected to orient learners on how to use the module.
    • The 'Notes to the Teacher' part of the module provides guidance for facilitators.
    • In addition to the main text, learners will see graphics, images, and other multimedia elements.

    Learning Resource Symbolism

    • The hand symbolizes the learning resource.

    Module Printing and Aim

    • The module was printed in the Philippines.
    • The aim of the learning resource is to provide a comprehensive guide for learners.

    Bank Reconciliation Statement

    • A bank reconciliation statement is used to reconcile differences between a company's accounting records and its bank statement.
    • The purpose of a bank reconciliation statement is to identify and correct errors or discrepancies.
    • The Book to Bank method involves preparing a reconciliation statement by comparing the company's accounting records with the bank statement.
    • Credit Memos are used to record increases in the bank account.
    • A common cause of discrepancy in a bank reconciliation statement is errors in accounting records or bank statements.
    • The Adjusted method involves adjusting the company's accounting records to match the bank statement.
    • NSF (Not Sufficient Funds) checks are checks that are returned due to insufficient funds.
    • Debit Memos are used to record decreases in the bank account.
    • Reconciling Items per Bank refers to the process of reconciling differences between the company's accounting records and its bank statement.
    • Deposit in Transit refers to deposits that have not yet been recorded by the bank.
    • Outstanding Checks refer to checks that have been written but not yet cleared.
    • Book Errors refer to errors or discrepancies in the company's accounting records.

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    Description

    Test your knowledge of Business Finance with this quiz based on the Senior High School Learning Module for Business Finance. Explore topics such as Republic Act 8293 and government works copyright.

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