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Activity 5: Advancing Capability and Potential of Knowing Business and
Accounting Practice.
What to do?
1. Identify at least one business in your community/locality (single/sole
proprietorship business).
2. Ask the following questions to the owner:
a. Since when did you start your business?
b. Do you have an accounting practice in your business?
c. Do you maintain a book of accounts in your business?
d. Is your reporting period, monthly, quarterly, semi-annual, or annually?
3. Ask the owner (if you may be allowed), their initial (beginning) capital,
additional investment (if any), income, and withdrawals (if any).
4. Make a summary and discussion report of your interview and prepare the
Statement of Changes in Equity given the data that you need.
Rubrics in Rating Activity 7
5 4 3 2 1
Category Scoring Data VGE GE SE LE N
Organization Ideas were logically arrange
Appropriate organization as pattern
was observed
Content Content was relevant
Purpose was well defined
Preparation/
presentation
of report
Presentation of report was proper
and organized
Legend: VGE – To a very great extent LE – To a little extent
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