CHAPTER 2 BUSINESS MANAGEMENT & ACCOUNTING BASIC

Identify the following characteristics of management in business which is

NOT TRUE.

• It is a process or series of continuing and related activities.

• It involves and concentrates on reaching organizational goals.

• It reaches these goals by working with and through people and other

  organizational resources

• It includes every form of trade, commerce, craftsmanship, occupation,

  profession or other activities that is carried out

Have a right granted to an individual or group to market a company's goods or services within a certain territory or location.

Identify the right term based on this statement.

• Franchise

• Partnership

• Public Limited

• Sole proprietorship

Ahmad has an idea for a new business. He wants to start the business as soon as possible with the minimum amount of expenses. He also wants to be the boss and keeps all of the expected profits earn for him.

Identify the type of business ownership that Ahmad would prefer to set up

• Sole proprietorship

• Partnership

• Private limited

• Public limited

AgroBank

Majlis Amanah Rakyat (MARA)

Amanah Ikhtiar Malaysia (AIM)

Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN NASIONAL)

Identify the service offered by the institutions.

• Provide funding to start a business or implement a business

• Assist in reducing the problem of retail space and industrial sites in the area of strategic and viable

• To increase the technical knowledge available among the entrepreneurs to attend the education provided.

• Assistance in the form of information relating to business opportunities, statistics, new discoveries, research.

Choose the following terms that is NOT fixed assets.

• Vehicles

• Leasehold

• Debtors

• Office equipment

Maryam have to prepare a Balance Sheet of her own company. Select the term that is NOT included in Balance Sheet.

• Non-current assets

• Expenses

• Owner’s equity

• Current liabilities

Identify the right activities involved in Cash Flow Statement.

i. Financing Activities

ii. Operating Activities

iii. Cash Balance Activities

iv. Investing Activities

• i,ii and iii

• i,ii and iv

• ii,iii and iv

• i,iii and iv

Choose the various ways to start a business.

i. Buying an existing business

ii. Running a franchise

iii. Inheriting a family business

iv. Establishing a new business

• i and ii

• ii and iii

• i, ii and iii

• i, ii and iv

Financial Year of Nini Business expires June 30, 2018.

Select the correct title for this income statement.

• Income Statement on July 1, 2017

• The income statement ends June 30, 2018

• Income Statement for the year ended July 1, 2017

• Income Statement for the year ended June 30, 2018

Select the financial statement that displays the revenues and expenses of a company for a period of time.

• Balance sheet

• Income statement

• Cash flow statement

• Statement of stockholder’s equity