Introduction to ABAD113

Quiz
•
Business
•
1st Grade
•
Hard
Norlaili A. Rahman
Used 5+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many TYPES of accounting users?
1
3
2
4
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Choose the correct types of profit making business formation
Sole proprietorships, Partnerships, Corporation & Co-operatives
Sole proprietorships, Partnerships, Corporation & Government agencies
Sole proprietorships, Partnerships & Corporation
Sole proprietorships, Partnerships & Clubs and societies
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Choose the correct types of non-profit making business formation
Clubs and societies, Government agencies & Co-operatives
Clubs and societies, Government agencies, Co-operatives & Corporation
Sole proprietorships, Partnerships & Corporation
Government agencies, Partnerships & Clubs and societies
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Choose the characteristics of SOLE PROPRIETORSHIP
Owners have unlimited liability
Limited fund raising power
Transfer of ownership through sale of business
Enhanced by more owners
5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Choose the characteristics of PARTNERSHIP
Owners have unlimited liability
Limited fund raising power
Difficult to liquidated or transfer partnership
Enhanced by more owners
May have to cover debts of other partners
6.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Choose the characteristics of CORPORATION
Has better access to financing via sale of ownership i.e. issue of shares
Limited fund raising power
Ownership is readily transferable through buying and selling of shares at a stock exchange e.g. Bursa Malaysia
Owners have limited liability
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
________________ indicates that personal and business record-keeping should be separately maintained.
Prudence concept
Periodicity concept
Materiality concept
Entity concept
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