Financial reporting
Authored by Renee Lim
Arts
University
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6 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The two main statute governing financial reporting by companies are Financial Reporting Act 1997 and Companies Act 2016.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Companies Act 2016 creates two independent bodies which are Financial Reporting Foundation and Malaysian Accounting Standards Board.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of Financial Reporting Foundation?
To issue new accounting standards
To review, revise or adopt standards as existing accounting standards
To develop conceptual framework
To supervise the activities of MASB
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
________ is a regulatory body that is responsible to promote monetary and financial stability.
Bank Negara Malaysia
Maybank Malaysia
Securities Commission
Registrar of Companies
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
________ is a regulatory body that is responsible to develop and regulate capital market in Malaysia.
Bank Negara Malaysia
Malaysian Accounting Standards Board
Securities Commission
Registrar of Companies
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is false about keeping accounting records?
To sufficiently explain the transactions of the company
Records need to be retained for five years
Records are to be kept at the registered office
Audit can be carried out conveniently and properly
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