QUIZ 1 - SPAF123

Quiz
•
Education
•
University
•
Medium
Maziah Mokhtar
Used 4+ times
FREE Resource
19 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Duane Reade Sdn. Bhd. is carrying inventory at its current market value of RM150,000. Inventory had an original cost of RM100,000.
Historical Cost Concept
Materiality Concept
Consistency Concept
Prudence Concept
2.
FILL IN THE BLANK QUESTION
20 sec • 2 pts
ACCOUNTING is a system or process of ________, summarizing business and financial transactions, analysing, verifying and reporting that money related activities to permit individuals and business to make informed__________.
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
A large company purchases a RM10 wastebasket and recorded it as an asset for the company.
Historical Cost Concept
Materiality Concept
Accrual Concept
Business Entity Concept
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Rania family treated the company assets as their own.
Consistency Concept
Prudence Concept
Going - concern Concept
Business Entity Concept
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Recognized RM200,000 in revenue in periods earlier than should have been recognized.
Cost Concept
Periodicity Concept
Accrual Concept
Matching Concept
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Mars Berhad keep on changing their accounting treatment for the depreciation of its non-current assets.
Matching Concept
Consistency Concept
Double entry Concept
Prudence Concept
7.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Owner of the DEF Enterprise bought a car for the personal use of his wife. He has recorded this in his business, including the petrol paid for the car.
Going - concern Concept
Prudence Concept
Business Entity Concept
Accrual Concept
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