总复习CH1-CH11

Which of the following is the main aim of account?

• To prepare Income Statement

• To prepare Statement Of Financiaol Position

• To communicate accounting information to users

• To write up all the accounts for business transaction

If a proprietor uses his private resource to pay the business liability, this will have which of the following effects?

• Decrease in liabilities and decrease in owner’s equity

• Decrease in liabilities and increase in owner’s equity

• Decrease in assets and increase in owner’s equity

• Increase in both assets and owner’s equity

Which of the following does follow the rule of debit and credit?

• Increase of goods for resale:

  Dr Suppler

  Cr Purchases

• Decrease of non-current assets:

  Dr Disposal of Fixed Assets

  Cr Non-Current Assets

• Decrease in Allowance for bad debts on debts:

  Dr Profit and Loss Account

  Cr Allowance for Bad Debts

• Increase of interests on bank loan:

  Dr Bank

  Cr Interests on Bank Loan

Which of the following does the Statement Of Financial Position show?

• Non-Current Assets and Current Assets

• The operation result of a business

• The financial position of a business

• Current Liabilities and Non-Current Liabilities

The main purpose of drawing up a Trial Balance is to check________.

• the accuracy of the double entry

• whether all journal entries have been posted

• the difference between the Cash Book balance and the Bank Statement balance

• whether all invoices have been sent out

Which of the following items does not belong to the intangible asset?

• Royalty

• Trademark

• Premises

• Goodwill

Which of the following is a debit balance?

• Accounts Payable

• Capital

• Bank Overdraft

• Loan to Employees

The following particulars of a company were available for the year of Year 5:

Cash Purchases RM90,750

Closing Inventory RM 9,245

Opening Inventory RM 5,290

Credit Purchases RM 6,600

Cost of Sales of the company for Year 5 was RM________.

• 106,595

• 93,395

• 88,105

• 74,905

If a supplier provides a free delivery service to customers, the cost of the service is recorded in the _____Account of the supplier’s ledger.

• Carriage Outwards

• Returns Outwards

• Carriage Inwards

• Returns Inwards

A trader bought RM20,000 worth of goods, he sold  $\frac{3}{4}$   of them for RM28,500. The total expenses incurred was RM6,300. The net profit was RM_________.

• 2,200

• 7,200

• 8,500

• 13,500