WorksheetsPOP QUIZ TOPIC 1 BA
Total questions: 10
Worksheet time: 4mins
The activities of classifying, recording and summarizing the business transaction can be described as :
Auditing
Accounting
Book-keeping
The art of measuring, communicating and interpreting financial activities is called
Management accounting
Financial accounting
Cost accounting
The main purpose of financial accounting is
Provide financial information to shareholders
To maintain balance sheet
To minimize taxes
Who is an external user of financial statements?
Shareholder
Manager
Creditor
Which organization is involved in development of approved accounting standards in Malaysia?
Malaysian Institute of Accountant (MIA)
Malaysian Accounting Standard Board (MASB)
Companies Commission of Malaysia (CCM)
Which one is the internal user?
Potential investor
Creditor
Management of a company
What is the primary purpose of auditing in business?
To prepare financial statements
To ensure compliance with laws and regulations
To manage day-to-day operations
What is the primary objective of cost accounting?
Maximizing profits
Cost control
Financial reporting
Which accounting method focuses on providing information for internal decision-making?
Management accounting
Financial accounting
Cost accounting
Which is NOT a professional accounting bodies in Malaysia ?
Malaysian Accounting Standards Board
Inland Revenue Board of Malaysia
Malaysian Institute of Accountants
