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WorksheetsTOPIC 1 (Part 1) AFRB114/ARFB123
Total questions: 10
Worksheet time: 3mins
Which of the following is a key purpose of accounting?
Forecasting future stock prices
Minimizing tax liabilities
Providing information for decision-making
Designing advertising campaigns
How many types of financial reports?
Two
Three
Four
Six
What is the FISRT NAME of accounting standard in Malaysia?
Financial reporting standards (FRS)
Malaysian accounting standards (MAS)
Malaysian financial reporting standards (MFRS)
Malaysian private entities reporting standards (MPERS)
Which is the bodies below is regards as proffessional bodies
Bursa Malaysia
Companies Commission of Malaysia (CCM)
CPA Australia
Malaysian Accounting Standard board (MASB)
What is a key reason for issuing accounting standards in Malaysia?
To increase tax revenue
To ensure consistency and transparency in financial reporting
To reduce the number of financial audits
Which act governs financial reporting requirements for companies in Malaysia?
Companies Act 2016
Financial Reporting Act 1997
Securities Commission Act 1993
Which of the following statements is correct regarding private entities (PE) in Malaysia?
A private entity can choose to apply either the MFRS or MPERS
A private entity is required to use MFRS
A private entity must prepare financial statements under the regulations of the Securities Commission Malaysia.
Who is responsible for reviewing the performance of the MASB
Bursa Malaysia
Finacial Reporting Foundation (FRF)
Interpretation committee
Working group committee
Which of the following is an example of a reporting entity?
A student keeping monthly expenses
A listed company
A small family gathering
A sports team without registration
What is Madam’s full name?
Nur Shuhada Yaakob
Nur Syuhada Yaakob
Nur Shuhada Yaacob
Nur Syuhada Yaacob
