MULTIPLE CHOICE
Which of the following statements correctly describes a daily wage?
A. It is a fixed amount an employee earns every month regardless of attendance days.
B. It is the amount earned for each day of actual work and excludes unpaid rest days unless required by law.
C. It is the extra financial compensation given for working past the regular 8-hour shift layout.
B. It is the amount earned for each day of actual work and excludes unpaid rest days unless required by law.
If an employer sums up an employee's basic pay, overtime pay, allowances, and commissions before any deductions, what is this total called?
A. Net Pay
B. Gross Pay
C. Taxable Base
B. Gross Pay
Net pay refers to the total monetary earnings an employee receives before any deductions are removed.
False=>Net pay=>Gross pay
An employee at Academia System Global Colleges earns a regular hourly wage of ₱160. During a busy week, they work 50 hours. The payroll assistant calculates their gross pay as:
What is the employee's regular hourly wage?
₱160 per hour
Which of the following statements correctly describes a daily wage?
A. It is a fixed amount an employee earns every month regardless of attendance days.
B. It is the amount earned for each day of actual work and excludes unpaid rest days unless required by law.
C. It is the extra financial compensation given for working past the regular 8-hour shift layout.
B. It is the amount earned for each day of actual work and excludes unpaid rest days unless required by law.
What is the primary difference between an arithmetic sequence and a geometric sequence?
A. Arithmetic sequences utilize a common ratio, while geometric sequences rely on a common difference.
B. Geometric sequences grow slower than arithmetic sequences over a long duration of steps.
C. Arithmetic sequences add a constant value to get the next term, while geometric sequences multiply by a constant value.
C. Arithmetic sequences add a constant value to get the next term, while geometric sequences multiply by a constant value.
What distinct mathematical rule governs the generation of terms within the classic Fibonacci sequence?
A. Multiply the current term by a constant value of two.
B. Add the two immediate previous numbers to get the next number.
C. Find the constant common difference using subtraction values.
B. Add the two immediate previous numbers to get the next number.
Overtime pay in the Philippines is given for working past the regular 8 hours at an additional rate of 25% of the regular wage.
TRUE
An employee at Academia System Global Colleges earns a regular hourly wage of ₱160. During a busy week, they work 50 hours. The payroll assistant calculates their gross pay as:
How many regular working hours and overtime hours did the employee render based on the labor standard?
Overtime hours = Total hours worked − Regular working hours
Overtime Hours=50−40=10 hours
What term describes the continuous, steady increase in the general prices of goods and services over time?
A. Inflation B. Mark-up C. Markdown
A. Inflation
Observe the pattern: 5, 10, 15, 20, 25, ... What is the value of the next term?
A. 30 B. 35 C. 40
A. 30
Determine the common ratio ( ) of the given geometric sequence: 3, 6, 12, 24, ...
A. r=2 B. r=3 C. r=4
A. r=2
When the actual retail selling price of merchandise is higher than its initial cost price, the business records a loss.
False=>Loss=>Profit
An employee at Academia System Global Colleges earns a regular hourly wage of ₱160. During a busy week, they work 50 hours. The payroll assistant calculates their gross pay as:
Is the payroll assistant's computation correct? Write Yes or No
NO
When a small business owner adds an extra financial amount to the net cost of a product to determine its consumer retail price, what is this addition called?
A. Discount B. Mark-up
C. Value Added Tax
B. Mark-up
Ms. Paez works as a part-time teacher and renders 40 hours of work in one week. If her hourly rate is ₱120, how much is her weekly wage?
A. ₱4,000 B. ₱4,800 C. ₱5,200
B. ₱4,800
Two TikTok accounts track their daily view growth over 3 days:
How do their growth types compare?
A. Both accounts grow arithmetically.
B. Account A is geometric (multiplying), while Account B is arithmetic (adding).
C. Account A is arithmetic (adding), while Account B is geometric (multiplying).
B. Account A is geometric (multiplying), while Account B is arithmetic (adding).
The National Internal Revenue Code enforces a Value-Added Tax (VAT) rate of 12% on most consumer transactions.
TRUE
An employee at Academia System Global Colleges earns a regular hourly wage of ₱160. During a busy week, they work 50 hours. The payroll assistant calculates their gross pay as:
Compute the correct gross pay, including overtime pay. Show your solution.
REGULAR PAY: 40 hours×₱160=₱6,400
OVERTIME PAY: 10 hours×₱200=₱2,000
Gross Pay=₱6,400+₱2,000=₱8,400
What is the standard Value Added Tax (VAT) percentage currently imposed on most commercial goods and services in the Philippines?
A. 5% B. 10% C. 12%
C. 12%
A local shop changes the retail pricing of a product from an original price of ₱2,000 to a new price of ₱2,400. Find the percentage increase.
A. 15% B. 20% C. 25%
B. 20%
Maria compares two 3-week savings options for a college laptop:
For this quick 3-week timeline, which conclusion is correct?
A. Plan A is better because it builds a larger total sum within 3 weeks.
B. Plan B is automatically better because geometric growth is always larger.
C. Both plans save the exact same amount of total money by week 3.
A. Plan A is better because it builds a larger total sum within 3 weeks.
In an arithmetic sequence, the constant value added to each term to yield the next term is termed the common ratio.
False=>(common ratio)=>(common) difference
Juan is offered two sales representative positions at a local appliance store.
Juan expects to sell ₱200,000 worth of products every month.
Compute Juan's monthly income under Offer A.
Commission=Sales × Commission Rate Commission=₱200,000×0.08=₱16,000
Which functional formula accurately expresses the calculation of business profit?
A. Profit = Cost Price - Selling Price
B. Profit = Selling Price - Cost Price
C. Profit = Selling Price × 12%
B. Profit = Selling Price - Cost Price