The net income for a period of time is shown in the (a)   statement.

(a)   are obligations of a business to others.

An increase in capital arising from the sale of merchandise is called (a)   .

A decrease in capital due to performing a function necessary for obtaining revenue is termed a (n) (a)   .

Resources used up in producing goods or services are called (a)   .

If revenue exceed expenses, the difference is called (a)   .

Under accrual accounting, revenue is recognized when ________________ and expenses are recognized when _________________.

(a)  

When the owner of a business withdraws money for personal use, the _____________ account and _______________ will be reduced.

(a)  

Listed in the Financial Position Statement are the _________________, ____________________ and ___________________ .

(a)  

A patents is an example of a (n) (a)   asset.

Advertising payable is an example of a (n) (a)   .

The right side of an account is called a (n) (a)   .

An increase in an asset or expense requires a (n) (a)   .

The essence of the double entry system is the equality of ________________ and _________________.

(a)  

Notes receivable is an example of a (n) (a)   .

Mortgage is an example of a (n) (a)   .

According to accounting equation, assets equal liabilities plus (a)   .

Resources received for goods or services are referred to (a)   .

The purchase of a vehicles on account will increases _________________ and _________________.

(a)  

The payment of utility payable reduces _____________ and _________________.

(a)  

Receiving cash for professional fees rendered increases _______________ and ____________________.

(a)  

Assets which will be converted into cash within one year are classified as (a)   .

Only transaction data that being expressed in terms of money will be recorded in accounting. What accounting concept is that?

(a)  

What will happen to owners' equity if the debtor settled his debts?

(a)  

A business is assumed to operate continuously for an indefinite period. Which accounting concept comply to this statement?

(a)  

Ameer Enterprise closed deal with a customer to order a bundle of printed t-shirts for next year event worth RM1,500 but the owner didn't record it as sales for the current year. Which concept that she comply with?

(a)  

State four (4) examples of intangible assets.

(a)  

The correct concept requires the business to maintain all accounting methods used when providing financial reporting. What is the concept?

(a)  

What is the basic accounting equation?

(a)