Quiz for Accounting

X > Ledger > Trial Balance

What is X?

• Journal

• Adjusting Trial Balance

• Income Statement

• Balance Sheet

Answer explanation

After identify transaction, must do the Journal.

Which ONE is not the Purpose of Accounting?

• Is my business making money?

• How much are my sales in the first three months?

• How much other people owe me?

• How are YOU?

What is ACCOUNTING?

• Identify, Record and Present

• Identify, Record and Communicate

• Knowledge, Record and Communicate

How many TYPES of Basis Accounting?

• 5

• 4

• 3

• 2

Which ONE is Internal Users?

• LHDN

• Investors

• Management

• Banks

Which ONE is External Users?

• HR Dept.

• Creditors

• Finance Dept.

• Marketing Dept.

Is this TRUE?

Assets = Liabilities + Owner's equity

• TRUE

• FALSE

Is this TRUE?

Owner's equity + Assets = Liabilities

• TRUE

• FALSE

Is this TRUE?

Revenue - Expenses = Net income/loss

• TRUE

• FALSE

Building is ???

• Current Assets

• Current Liabilities

• Non-current Assets

• Non-current liabilities