TING 4_PENGENALAN PERAKAUNAN

Which of the following statements is true about accounting?

• I, II and III

• I, III and IV

• I, II and IV

• II, III and IV

Who is responsible for introducing the double-entry bookkeeping system used today?

• Luca Pacioli

• Vanida Imren

• Jothan Smith

• Adam Keynes

Who are the internal users of financial statements?

• Inland Revenue Board (LHDN)

• Banks

• Investors

• Business owners

What is the subfield of accounting that involves the review of financial records to ensure a transaction has actually occurred?

• Taxation

• Auditing

• Financial accounting

• Management accounting

The following information relates to accounting ethics. Accountants must be honest and transparent in professional relationships. What is this ethics?

• Integrity

• Confidentiality

• Professionalism

• Transparency

Choose the characteristics of a public limited company.

• Liability is limited.

• Capital is obtained from personal savings.

• Subject to individual income tax.

• Business profits are distributed in the form of dividends.

Nurin Balqis's business recorded a salary of RM2,500 in the financial statement, including unpaid salary of RM300. What accounting principle is adhered to?

• Consistency

• Going concern

• Separate entity

• Recognition of income and expenses

Fauzi's business has set its office equipment to be depreciated at 10% per year on cost. Its accounting period ends on December 30 each year. What assumption and accounting principle relates to this statement?

• Consistency

• Cost principle

• Accounting period

• Money as a measure

The body that formulates accounting standards in Malaysia is

• MASB

• CIMA

• ACCA

• MICPA

Qualitative characteristics of financial statements include

• Comparability

• Understandability

• Uniformity

• Materiality