1. When TC > R, the value of P < 0 which implies that the business will occur loss.

However, when the

company earns a profit when:
A. TC = R B. TC > R C. TC = P D. P > 0
2. What is the product of the price and the quantity or number of units from which all costs and expenses
is subtracted to arrive at net income?
A. Break – even B. Fixed Cost C. Revenue D. Variable cost
3. Ana borrowed a Php200,000 from the bank and a rate of 0.2%. The amount of money borrowed by Ana
is called:
A. Amount Due B. Interest C. Principal D. Profit
4. Which has greater discount for an item worth Php10,000, discount series of 20%, 15%, and 10% or
discount of 10%, 20%, and 15%?
A. Same discount for an item. C. 10%, 20% and 15% has greater discount.
B. 20%, 15% and 10% has greater discount. D. None of the discount series have a greater discount.
5. Ben bought a pen at Php10 each and sold it for Php15. Did Ben have a loss in selling his pen?
A. Yes, because his profit is Php5.
B. Yes, because he wants it to sell.
C. Yes because he sell it for Php15.
D. Yes, because his profit is Php15.

6. Leave without pay is:

A. Benefit of a wage earner. C. Taxable according to its salary.
B. Not a benefit of a wage earner. D. Non-taxable
7. Mr. Adrian’s 30 – year annual basic income is given by the formula:
Y = 130,000 + 20,000 (x-1980),
where x is the year and y is the basic income. He started working in 1981 and retired in 2010. How much
is his retirement pay after 30 years of service in the company? (24 x 12)
A. Php500,000 B. Php670,000 C. Php700,000 D. Php880,000
8. The CNA (Collective Negotiation Agreement) is considered as a benefit for public employees computed
in one year.
Given the formula below:
CNA + 13th month pay + other benefits > Php 30,000 are taxable.
Suppose a certain government employee earns a CNA = Php12,764.12, 13 th month pay = Php24,291.78,
and he has no other benefits. How much of his additional earnings will be taxed?
A. Php 7,055.9 B. Php 37,055.9 C. 30,000 D. Php61,347.68
9. In connection with the previous problem, suppose a certain government employee earns a CNA =
Php2,214.12/month, 13th month pay = Php 12,119.72, and he has other benefit amounting to Php4,000.
How much of the additional earning will be taxed?
A. Php69258.56 B. Php42, 689.12 C. Php30,000 D. 12, 689.12
10. How many days of vacation leave credits of private employees will be monetized every year?
A. 10 days B. 12 days C. 15 days D. 18 days
11. Which of the following is NOT a deduction in the payslips of an employee?
A. Miscellaneous B. SSS Premium C. Withholding Tax D. 13th month pay
12. What is the fixed regular payment of an employee, typically paid on monthly or biweekly basis but often
expressed as an annual sum?
A. Benefit B. Income C. Salary D. Wage
13. A night shift differential refers to an additional amount added to the hourly rate. The amount is only
added if an employee works anytime from 10:00 pm to 6:00 am. The amount is equal to:
A. 1.5h B. 1.3h C. 1.25h D. 1.1h
14. May monetized her 12-day leave credits. She has a Php22,000 basic salary. How much will he
monetized?
A. Php10, 256.45 B. Php12,722.87 C. Php15,434.67 D. Php15,277.89

15. The mean of the data is 100. If each score in this data is increased by 10, what happens to the mean of
the new set of data?
A. It depends. C. Insufficient information
B. It will decrease by 10. D. It will also increase by 10.
16. What is the standard deviation of a set of data if its variance is 36?
A. 36 B. 12 C. 6 D. 3
17. What happens to the standard deviation of a set of data if each score is increased by 2 points?
A. Unchanged B. Twice as much C. 2 points higher D. 2 points lower
18. Refer to the given data below. The following frequency table shows the IQs of 100 Grade 11 students of
a certain SHS.

IQ RANGE NUMBER OF STUDENTS

80-89 7
90-99 23
100-109 40
110-119 20
120-129 5
130-139 5
What percentage of these students has an IQ of 100 or above?
A. 7% B. 23% C. 30% D. 70%
19. Refer to the given data in number 18. What is the relative frequency of the lowest IQ Range?
A. 0.07 B. 0.23 C. 0.40 D. 0.70
20. All of the following are properties of the interquartile range except:
A. It covers 50% of the data set. C. It is quick and easy to compute.
B. It is not easy to compute as the range. D. It eliminates the influence of extreme scores.
21. The first quartile or the lower quartile is the value that separates the lower 25% from the larger ____ of
the scores.
A. 50% B 75% C. 100% D. 125%
22. The following are the ratings (in %) of CPA Board Exam last May and October 2019. Given the following
data of mean, standard deviation, and coefficient of variation of each group.

MAY 2019 OCTOBER 2019

x 1= 92.744 x 1= 94.486
 S1=0.682 S1=1.165
CV 1=0.735% CV 1=1.233%
Which group have the higher spread of score?
A. May 2019 C. October 2019
B. May and October 2019 D. None of them because of the Coefficient Variation
23. Given the following data, what is the mode?
100,150,175,200,225,100,250,175,100,150,100,300
A. 250 B. 225 C. 150 D. 100
th
24. Lee, an 11 grader, made a survey on the daily allowance of her classmates. The results are:
250 150 100 200 225 100 100 175 225 250
What is the mean allowance of her classmates?
A. Php150 B. Php167.5 C. Php177.5 D. Php180