Balance Sheet

Which of the following can be classified as an intangible asset?

• Accounts receivable

• Trademark

• Goodwill

• Marketable securities

Which of the following statement is INCORRECT?

• Asset - Equity = Liabilities

• Liabilities + Equity = Assets

• Assets - Liabilities = Equity

• Liabilities + Assets = Equity

Which of the following transaction is NOT a revenue?

• Performed a services worth RM3,000 on credit for Aliff and further services worth RM5,500 cash

• Purchased RM6,000 worth of drying fuel and RM3,000 worth of machinery lubricants

• Received subsidy of RM7,000 and interest of RM4,000

• Sold RM9,000 worth of grain crops for cash and a small tractor costing RM12,000 for RM20,000

Which of the following is NOT an example of owner's equity?

• Retained earnings

• Machinery

• Common stock

• Plants and equipments

Balance sheet summarizes the __________ of the business at a point in time

______ measures the ability of the business to meet current financial obligations as they come due without disrupting normal business

Which of the following does not affecting the owner's equity?

• purchase of fixed asset

• change in value of asset

• the business has profit or loss

• owner invest more money or withdraws money from business

All of the followings are advantages of market basis asset valuation method EXCEPT

• More accurate for determining collateral

• More accurate indication of the current

  financial condition

• More accurate measure of farm’s

  current financial health

• Comparable with balance sheets from

  other types of businesses

All of these ratio would prefer a higher value to indicate that the business is doing good EXCEPT for

• Current ratio

• Net capital ratio

• Debt asset ratio

• Debt structure ratio

The owner's equity will increase when ........

i - a business obtained net profit

ii - a business incurred net loss

iii - the owner withdrew cash from the company

iv- the owner brought in machinery to use in the business

• i and iv

• ii and iii

• i and iii

• ii and iv