AGR323 - CHAPTER 4
Quiz
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Social Studies
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University
•
Medium
HAZWANI AZAM
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
2.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Select ALL statements related to market basis balance sheet (more than 1 answer)
asset value is equal to current market value minus selling costs
asset value is equal to cost of producing the asset
has higher asset value
asset value is equal to purchase minus depreciation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sun Farm bought seed and fertilizer on credit from One Nursery Sdn Bdh. What is the effect of this transaction?
Increase in both asset and liability
Increase in asset and decrease in liability
Increase liability and decrease in asset
Decrease in both asset and liability
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets = $25,000 and Liabilities= $15,000 what is the value of capital?
5000
10000
40000
25000
7.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
The balance sheet is also known as
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