Nurina, an accountant in Ains Ltd thinks that there is a need to assume that business can be operate for only one year.
EBAB123 Topic 1
University
•10 Qs
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EBAB123 Topic 1
Quiz
•
Mathematics
•
University
•
Medium
Farhah Shafiy
Used 36+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Agree - Going Concern Concept
Disagree - Going Concern Concept
Disagree - Consistency Concept
Agree - Consistency Concept
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jasmine felt that an item can be recognised and recorded in financial report must be expressed by Ringgit Malaysia only.
Agree - Monetary Concept
Agree - Cost Concept
Disagree - Monetary Concept
Disagree - Cost Concept
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Daisy withdrew RM25,000 to make additional investment. She used RM500 from cash to pay fee for daughter and recorded as drawing.
Agree - Going concern Concept
Disagree - Going concern Concept
Agree - Entity Concept
Disagree - Entity Concept
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Humaisya thinks that depreciation expenses should be charged and recorded for business’s assets.
Disagree - Entity Concept
Agree - Entity Concept
Agree - Matching Concept
Disagree - Matching Concept
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Adam & Aqeel Inc. bought a land at a price of RM175,000 in 2024. The account manager recorded the value as it is.
Agree - Matching Concept
Disagree - Matching Concept
Disagree - Cost Concept
Agree - Cost Concept
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Perniagaan Naqie thinks that costing inventory method of First In First Out (FIFO) can be changed to Last in First Out (LIFO) at anytime they want.
Agree - Consistency Concept
Disagree - Realization Concept
Disagree - Consistency Concept
Agree - Realization Concept
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. Arissa Ltd decided to not record an unpaid rental for Dec 2024 until they make a payment.
Disagree - Accrual Concept
Agree - Matching Concept
Agree - Accrual Concept
Disagree - Matching Concept
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