DPA10183 Quiz 1

Bookkeeping is used to evaluate performance of a company.

• TRUE

• FALSE

Bookkeeping is more on clerical works for daily routine job.

• TRUE

• FALSE

There are THREE groups of users of financial statements

• TRUE

• FALSE

Lembaga Hasil Dalam Negeri (LHDN) is part of Internal users of financial statement

• TRUE

• FALSE

Managers is external user of financial statement.

• TRUE

• FALSE

Historical cost concept states that all assets must be recorded as MARKET PRICE at the time of acquisition

• TRUE

• FALSE

Under Objectivity Concepts, all transactions must be supported by evidence to make proper records.

• TRUE

• FALSE

Only transactions that can be measured by monetary value be recorded and presented in financial statements

• TRUE

• FALSE

The value of RM1,000 is considered as IMMATERIAL for company which has RM1 billion of share capital.

• TRUE

• FALSE

All accounting period of business entity must be ended on 31 December every year.

• TRUE

• FALSE