WorksheetsPrinsip Perakaunan SPM 2024
Total questions: 40
Worksheet time: 20mins
Who is the Father of Accounting who wrote a mathematics book that included a section on accounting rules for a business?
Pacioli Luca
Luka Pacioli
Luca Pacioli
Lucha Paciolli
The following information refers to Safuan Enterprise. What accounting concept is involved?
Consistency
Cost principle
Benefit-cost
Money as a measure
Which statement is not a characteristic of the Multi-Purpose Cooperative of Kampung Dato’ Bentara?
Liability is unlimited.
The minimum number of members is 50.
Profits are distributed in the form of dividends.
The business is managed by the Board of Cooperatives.
Which of the following is a component of cost of goods sold?
Sales returns
Freight in
Freight out
Discount received
The following information is obtained from the business book of Butik Muslimah Musalmah. What is the effect of the transaction on the accounting equation?
Decrease Decrease No effect
Increase Increase No effect
Decrease No effect Decrease
Increase No effect Increase
In the accounting recording system, vehicles have been recorded in the asset category on page 18 of Abu's business ledger showing code 10018. What is the name of this system?
Chart of accounts system
Double-entry system
Contra entry system
Accounting information system
Izzah Enterprise has received dividends on its investment in Maybank Investment Bhd. The bank has transferred the dividend to its account and a document has been sent by the bank. What is the name of that document?
Debit Note
Credit Note
Debit Notification
Credit Notification
Non-source documents are one of the important reference documents in the accounting system. What is an example of such a document?
Invoice
Cash bill
Bank statement
Electronic banking transaction slip
The management of Juan Ling Sdn. Bhd. has stipulated that every small purchase transaction below RM300 must be recorded in a business book. What is that book?
Cash Book
Retail Cash Book
First Record Book
Inventory Record Book
Nina's supplier has sent a debit note for an additional charge to Hamizah's business due to a missing entry in the invoice sent. Which first record book should be used to record that transaction?
Purchase Journal
Sales Journal
Purchase Return Journal
Sales Return Journal
Among the following, which transaction should be recorded in the Cash Book?
Buying furniture in cash.
Buying a vehicle on credit.
Taking inventory for personal use.
Paying shop rent by cheque.
Among the following, which is an example of Nominal Account?
Purchases
Premises
Loans
General expenses
Which of the following is an example of a Nominal Account?
Purchases
Premises
Loans
General Expenses
Miza Retail Store pays a debt to Ikmal Company amounting to RM700 by cheque. What is the double entry in Miza Retail Store's books?
Ikmal Company Bank Account
Ikmal Company Bank
Miza Retail Store Bank Account
Miza Retail Store Bank
The following information is obtained from Jojo Jaya Company. How much is Jojo Jaya's sales?
RM64,450
RM67,970
RM94,950
RM94,070
Which statement describes the function of the Trial Balance?
Calculating total capital
Recording the closure of ledger accounts
Testing the accuracy of double entries
Calculating total assets and liabilities
What is the correct closing entry to record the ending inventory in the journal?
Profit and Loss Account Inventory Account
Trading Account Inventory Account
Inventory Account Profit and Loss Account
Inventory Account Trading Account
What details are used to calculate the cost of goods sold?
Purchases, opening inventory, import duties
Sales, closing inventory, wages on purchases
Sales, closing inventory, returns inwards
Purchases, opening inventory, insurance on purchases
Choose the correct closing entry for the Sales Account.
Sales Account Trading Account
Bank Sales Account Trading Account
Profit and Loss Sales Account Bank
Sales Account Bank Profit and Loss
Which pair of accounts and balances is correct?
Accrued wages - debit balance
Prepaid insurance - credit balance
Accrued interest - debit balance
Accrued rent - debit balance
The following information is taken from the business books of Bersatu Indah Sdn. Bhd. What is the recorded value of small tools in the Profit and Loss Account?
RM180
RM240
RM460
RM600
Amy's store purchased a fixture for RM18,000 on January 1, 2022. The depreciation rate is 10% per year on the book value. On December 31, 2023, the fixture was sold for RM10,000. Calculate the profit or loss on the disposal of the machine.
Loss on disposal RM3,420
Profit on disposal RM3,420
Loss on disposal RM4,580
Profit on disposal RM4,580
Which error is not significant in the Trial Balance?
Cash payment of RM600 recorded only in the Cash Book.
Discount given of RM70 recorded in the Discount Received Account.
Office equipment purchases of RM500 recorded in the Purchases Account.
Credit sales of RM255 recorded as RM225 in the Sales Account.
After the Trading and Profit and Loss Accounts are prepared and the net profit is estimated at RM9,700, the following errors were detected: (i) Sales returns overstated by RM150. (ii) Closing inventory overstated by RM240. (iii) Discounts received RM80 incorrectly recorded in the Discounts Given Account. (iv) Cash payment to Wandy Enterprise not recorded RM200. What is the net profit after adjustments?
RM9,490
RM9,690
RM9,770
RM9,890
If you want to make an investment and set a target return on capital of 25%, how much capital do you need?
RM320,000
RM240,000
RM160,000
RM80,000
How is net profit calculated if the trader does not record accounting entries completely?
Ending capital + Drawings - Beginning capital - Additional capital
Beginning capital - Drawings + Ending capital + Additional capital
Beginning capital + Additional capital - Ending capital - Drawings
Ending capital - Beginning capital + Additional capital - Drawings
What is the net profit value of the business?
RM19,000
RM29,250
RM30,700
RM53,300
Calculate the total purchases.
RM9,550
RM9,950
RM14,070
RM14,520
The cash control system is implemented to ensure the business
achieves target profit.
obtains optimum sales.
keeps a lot of cash in the bank.
has sufficient cash flow.
What are X and Y in the formula used to calculate the surplus or deficit in the cash budget?
Total payments Total receipts
Total receipts Total payments
Total income Total expenses
Total expenses Total income
How can the problem in the partnership business of Amar and Amir be resolved?
Refer to the Companies Act 2016
Refer to the Partnership Act 1961
Refer to Business Registration
Refer to the decision of each partner
What is the realization loss?
RM9,400
RM13,400
RM25,400
RM28,400
Company Suria Berhad has issued 700,000 ordinary shares at RM1.50 each on January 1, 2023. All shares have been applied for and fully paid at the time of application. The business financial period ends on December 31 each year. Choose the most accurate Financial Position Statement (owner's equity section) as of December 31, 2023 to record the company's capital position.
Financial Position Statement as of December 31, 2023 Owner's Equity RM Issued and fully paid capital Ordinary shares 1,050,000
Financial Position Statement as of December 31, 2023 Owner's Equity RM Issued and fully paid capital 1,050,000 units Ordinary shares 1,050,000
Financial Position Statement as of December 31, 2023 Owner's Equity RM Issued and fully paid capital 700,000 units Ordinary shares 1,050,000
Financial Position Statement as of December 31, 2023 Owner's Equity RM Issued and fully paid capital 700,000 units Ordinary shares 700,000
What is meant by interim dividend?
Dividends paid to ordinary shareholders
Dividends paid to preference shareholders
Dividends paid to shareholders before the actual profits of the company are known
Dividends paid to shareholders after the actual profits of the company are known
The Arts Silat Club has 100 members. On January 1, 2023, the following balances were obtained from the club's books. RM Unreceived fees 1,020 Unearned fees 500 For the year ending December 31, 2023, the club received fees amounting to RM10,500. This amount includes RM300 received for the year 2024. How much fees should have been received in 2023?
RM11,200
RM10,720
RM9,980
RM9,680
The following information was obtained from the accounts of the Tanjung Arts Club. RM Restaurant sales 18,460 Restaurant purchases 12,300 Beginning inventory 4,720 Ending inventory 3,740 Employee wages 4,000 Additional information: 40% of employee wages are restaurant employee wages. What is the profit of the club's restaurant?
RM9,180
RM6,780
RM3,580
RM1,180
The following excerpt from the Financial Position Statement was obtained from the Lotus Sports Club. Lotus Sports Club Financial Position Statement as of December 31, 2023 RM Accumulated Fund 8,500 Add: X 1,500 10,000 Add: Entrance fees 2,600 Ending accumulated fund 12,600 Where did the value of X come from?
Bank Account
Fees Account
Profit and Loss Account
Income and Expenditure Account
The diagram below relates to the components of production costs. What are X and Y?
Prime Cost Direct Expenses
Direct Expenses Work in Process
Direct Expenses Overhead Cost
Overhead Cost Work in Process
The following information was obtained from a shoe manufacturing firm as of December 31, 2023. RM Sales of finished goods Direct material costs used Overhead costs Direct labor Direct expenses Beginning work in process Ending work in process 368,850 81,300 51,315 15,390 7,500 19,125 15,210 Calculate the cost of shoe production.
RM151,500
RM159,420
RM170,715
RM224,430
The following information is taken from Lance Flower Shop, which sells decorative wall flowers at RM120 each. RM Direct material (per unit) 45 Direct labor (per unit) 25 Premises rent 10,000 The company targets a profit of RM20,000. How many units of decorative wall flowers need to be produced?
200 units
250 units
400 units
600 units
