WorksheetsFinancial accounting Topic 3
Total questions: 5
Worksheet time: 3mins
Which of the following are income?
l Motor vehicle
ll Salaries
lll Service revenue
IV Commision received
I and IV
Il and lll
lll and lV
ll and lV
Which one of these statements is true about al non-current asset?
An asset found as a separate classification in the statement of profit or loss
The latest item purchased by a business
It is expected to be realised in cash, sold or consumed within one year of the date of the statement of financial position or an enterprise's operating cycle, whichever is longer
Assets that have a useful life of more than one year and that are acquired/bought not for resale but for use in the day-to-day business operations.
Which one of the following can be classified as an intangible asset?)
Accounts receivables
Loan
Inventories
Goodwill
Which one of the following statements is CORRECT?
Assets + Capital = Liabilities
Liabilities - Capital = Assets
Assets + Liabilities = Capital
Liabilities + Capital = Assets
Which one of the following transactions is NOT revenue?
Performed services worth RM3,000 on credit
Purchased a computer worth RM6,000 and RM3,000 worth of goods for cash
(Received) a cheque for commission of RM2,000
Sold RM9,000 worth of goods on credit
