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WorksheetsQuiz Topic 1 Introduction To Accounting
Total questions: 10
Worksheet time: 2mins
Which of the following is definition of accounting?
It's a process of classifying, recording, and summarizing the business transaction in monetary unit, communicating and interpretating the data in assist stakeholders in making decision.
It's a process of recording, classifying, and summarizing the business transaction in monetary unit and interpretating the data in assist stakeholders in making decision.
It's a process of classifying, recording, and summarizing the business transaction interpreting the data in assist stakeholders in making decision.
Which of the following is the external user of accounting information?
Manager
Financial institutions
Business owners
Current investor
Which of the following are services
business activities?
Book Store
Lawyer Firm
Bakery
Tax Consultant Firm
Which form of business ownership does the following statement refer to?
-organized as a separate legal entity
-enjoys an unlimited life
Sole proprietorship
Partnership
Company
Which is NOT accounting process in bookkeeping
Classifying
Recording
Interpreting
Summarizing
What is the accounting process no 3?
Adjustment
Ledgers
Financial Statement
The financial statement that reports the cash inflows and outflows in to the business is the:
Balance Sheet
Income Statement
Statement of Cash Flows
Resources owned by a company (such as cash, accounts receivable, vehicles) are reported on the balance sheet and are referred to as __________.
Liabilities
Assets
Income
Owner Equity
Which is NOT a professional accounting bodies in Malaysia ?
Malaysian Accounting Standards Board
Malaysian Institute of Accountants
Inland Revenue Board of Malaysia
Malaysian Institute of Certified Public Accountants
Which of the following are the types of financial statements
1.Statement of Cash Flow
2.Statement of Comprehensive Income
3.Statement of Financial Position
4. Trial balance
1, 2, 3 and 4
1, 2 and 3
2 and 4
2, 3 and 4
