QUIZ 2- A015 (CHAP 1 & 2)

Quiz
•
Other
•
12th Grade
•
Medium
NORKHAIRUL AZLINA BM
Used 23+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
___________ is the process of identifying, recording and classifying, summarizing, analysing and interpreting business transaction.
Bookkeeping
Transaction
Accounting
Financing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The body that issues accounting standards in Malaysia is
Bursa Malaysia
The Malaysian Accounting Standards Board
Bank Negara Malaysia
Malaysian Institute of Accountants
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is one of the branches of accounting?
Taxation
Marketing
Mathematics
Econometrics
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would not be considered an external user of accounting data for a company?
Inland Revenue Department (LHDN)
Management
Creditors
Investors
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Types of business activities are:
Services, manufacturing, and company
Services, manufacturing, and merchandising
Services, partnership, and manufacturing
Services and merchandising
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The three types of business ownership are:
Sole proprietorships, small businesses, and partnerships
Sole proprietorships, partnerships, and companies
Sole proprietorships, partnerships, and large businesses
Financial, manufacturing, and service companies
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is false?
A statement of cash flows summarizes the information about the cash flows (receipts) and outflows (payments) for a specific period of time.
A statement of financial position reports the assets, liabilities, and owner’s equity at a specific date.
An income statement presents the revenues, expenses, changes in owner’s equity, and resulting net income or net loss for a specific period of time.
An owner’s equity statement summarizes the changes in owner’s equity for a specific period of time.
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