WorksheetsIntroduction to accounting
Total questions: 15
Worksheet time: 1hrs 15mins
Ownership for partnership
Single owner
2-20 partners
2-20 shareholder
unlimited number of shareholder
Ownership for sole proprietorship
Single owner
2-20 partners
2-20 shareholder
Ownership for limited companies
Single owner
2-20 partners
2-20 shareholder
Capital contributed by personal savings, loans and relative
sole proprietorship
partnership
limited company
Registered with Companies Commission of Malaysia and Business Registration Act
Sole proprietorship
Partnership
Limited companies
Capital contributed by the partners according to the agreement
Sole proprietorships
Partnership
Limited companies
Unlimited liability - owner will bear all debts and losses
Sole proprietorship
Partnership
Limited companies
Unlimited liability - Partners will bear all debts and losses
Sole proprietorship
Partnership
Limited companies
Registered with Business Registration Act only
Sole proprietorship
Partnership
Limited companies
Proper books of account must be kept & annual accounts must be sent to Companies Commission of Malaysia
Sole proprietorship
Partnership
Limited companies
Bookkeeping involve
Classifying
Recording
Summarizing
Interpreting
All above
Accounting involve
Classifying
Recording
Summarizing
Interpreting
All above
External user of accounting information
Banker
Owner
Manager
Employee
Internal user of accounting information
Consumer
Investor
Banker
Owner
The purpose of accounting
For easier reference
To know financial status of organization
To avoid misleading
All above
