Beruflich Dokumente
Kultur Dokumente
SEM A141
1.
2.
3.
4.
5.
6.
Which of the following groups use accounting information primarily to help protect
the public?
A.
B.
C.
D.
Management
Regulatory agencies
Taxing authorities
Economic planners
7.
8.
9.
The accounting equation should remain in balance because every transaction affects:
A.
B.
C.
D.
12.
historical cost.
matching principle.
objectively principle.
full disclosure.
The sources and uses of cash over a stated period of time are reflected on the:
A.
B.
C.
D.
11.
it is trusted by users.
it is helpful in contrasting organizations.
it is timely presented.
it affects the decision of its users.
The Statement of Profit or Lose and Other Comprehensive Income reports the
revenues and expenses for a period of time based on the:
A.
B.
C.
D.
10.
relevance.
reliability.
creativity.
comparability.
For question 13-14, please indicate the BEST effect of the transactions on the
accounting equation.
13.
On 28 July 2014, Crisp Laundry received cash of RM35,000 from the owner,
Cristiano Phonaldo as additional investment.
On 30 July 2014, a total cash of RM11,500 was used to pay the salary of the
employees and another RM5,000 was used to pay the bank loan. The changes caused
by these transactions may include:
A.
B.
C.
D.
14.
On 10 September 2014, Hussein Bald purchased office supplies for RM4,500, paid
RM1,000 and agreed with the supplier to pay the remaining in the following month.
A.
B.
C.
D.
15.
D.
This concept is normally uphold by accountants to avoid from having assets and
revenues overstated and liabilities and expenses understated is known as
_____________
A.
B.
C.
D.
17.
16.
C. when realized
D. when realized or realizable and earned
18.
____________ works with the Financial Reporting Foundation (FRF) to make up the
new framework for financial reporting in Malaysia, with representation from all
relevant parties in the standard-setting process.
A.
B.
C.
D.
19.
20.
A business receives a utility bill and intends to pay the bill next month. When the
business receives the bill, how does this event affect the accounting equation?
A.
B.
C.
D.
23.
A RM10,000 account payable is paid by the business. How is the accounting equation
affected?
A.
B.
C.
D.
22.
21.
A shop-house is purchased by a business for RM300,000. The company pays for the
shop-house with a RM60,000 cash payment and the execution of an RM240,000
promissory note payable to the seller. How does this purchase affect the business's
accounting equation?
A.
B.
C.
D.
24.
Jasmine Bakery started the year with total assets of RM120,000 and total liabilities of
RM60,000. During the year, the business earned revenues of RM180,000 and incurred
expenses of RM105,000. There is no capital contributions during the year, but the
owner make withdrawals of RM90,000. What is the amount of owner's equity at the
end of the year?
A.
B.
C.
D.
25.
RM60,000
RM75,000
RM45,000
RM15,000
26.
A utility bill is received for expenses incurred. It will be paid in the following
accounting period. Which of the following would be TRUE as a result of the receipt
of the utility bill?
A.
B.
C.
D.
END OF QUESTION
GROUP: _____
______________________________________
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