
Key Financial Components
Quiz
•
Other
•
Professional Development
•
Practice Problem
•
Easy
noor seman
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 5 pts
You are asked to check how many laptops your department owns. This information is recorded as:
A liability
An asset
An expense
An income
2.
MULTIPLE CHOICE QUESTION
20 sec • 5 pts
Your agency still owes RM15,000 to a contractor. This amount is a:
Profit
Asset
Equity
Liability
3.
MULTIPLE CHOICE QUESTION
20 sec • 5 pts
Which of the following is usually listed in a Balance Sheet?
Number of officers
Total annual meetings
Cash and equipment
Training activities
4.
MULTIPLE CHOICE QUESTION
20 sec • 5 pts
Rohan uses RM5,000 of a government grant to buy a printer for his new business. What happens?
Asset goes down
Expense increases
One asset is exchanged for another
Liability increases
5.
MULTIPLE CHOICE QUESTION
20 sec • 5 pts
Why is the Balance Sheet important for officers like you?
To plan events
To manage human resources
To monitor public funds and assets
To prepare speeches
6.
MULTIPLE CHOICE QUESTION
20 sec • 5 pts
Your department receives RM100,000 from the federal government for a new system. This money is recorded as:
Income
Expense
Equity (government fund)
Liability
7.
MULTIPLE CHOICE QUESTION
20 sec • 5 pts
Your unit purchases new air conditioners worth RM30,000 using a loan. What increases?
Asset and liability
Asset and equity
Liability and expense
Cash and inventory
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