Finals

Question 1

For registering yourself or your company as an employer and for remitting your employees’ contribution together with your employer’s share

Answer 1

SSS, PhilHealth, and Pag-ibig Fund registration

Question 2

For getting the license to operate in the city or municipality and payment of your local business taxes

Answer 2

Mayor’s Business Permit

Question 3

For getting TIN, official receipts an invoices, registering your books of accounts and paying your national internal revenue taxes

Answer 3

Bureau of Internal Revenue (BIR)

Question 4

For partnership or corporation

Answer 4

Securities and exchange commission (SEC) Registration

Question 5

For your business tradename

Answer 5

Department of trade and industry (DTI) Registration

Question 6

Account type:
Assets
Expenses

Answer 6

Debit

Question 7

Account type:
Liabilities
Owner’s Equity
Revenue

Answer 7

Credit

Question 8

T- Accounts/ 5 Major Accounts

Answer 8

Owner’s Equity
Assets
Revenue
Liability
Expense