Key Financial Components

You are asked to check how many laptops your department owns. This information is recorded as:

• A liability

• An asset

• An expense

• An income

Your agency still owes RM15,000 to a contractor. This amount is a:

• Profit

• Asset

• Equity

• Liability

Which of the following is usually listed in a Balance Sheet?

• Number of officers

• Total annual meetings

• Cash and equipment

• Training activities

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

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

Your department receives RM100,000 from the federal government for a new system. This money is recorded as:

• Income

• Expense

• Equity (government fund)

• Liability

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

Your organization has invested in a new software system worth RM50,000. How is this recorded?

• Equity

• A liability

• An expense

• An asset

Which of the following represents a source of funding for a non-profit organization?

• Donations

• Expenses

• Liabilities

• Assets

Your department has a total of RM25,000 in cash and RM10,000 in accounts receivable. What is the total current asset?

• RM10,000

• RM25,000

• RM35,000

• RM15,000