1. Besta Corporation has total current assets of RM800,000; total current liabilities of RM450,000; and long-term assets of RM300,000. How much is the firm's Total Liabilities & Equity? A. RM190,000 B. RM650,000 c. RM950,000 D.RM1,100,000 2. Bilal Holdings has total current assets of RM800,000; total current liabilities of RM450,000; long-term assets of RM300,000; and long-term debt of RM200,000. How much is the firm's total equity? A. RM150,000 B. RM450,000 c. RM750,000 D. RM1,150,000 5. Differentiate between financial and management accounting reporting in term of: i. Users ii. Type of information data iii. Decision-making iv. Objective 7. Briefly discuss the meaning of the following accounting concepts: (8 marks) i. Going Concern ii. Business Entity 8. What do you understand by an accounting period? 9. Contrast between assets and liabilities. 10. Briefly discuss any TWO (2) accounting concepts