1. CEO of Aftab Sdn Bhd asked the company accountant, Ali not to record the RM50 million sales for the year 2020. However, Ali accidentally record the cost associated with the sales of RM45 million. Which are the concepts that Ali did not follow?

1. Matching
2. Realization
3. Conservatism
4. Materiality

1. (i) & (iv)
2. (ii), (iii) & (iv)
3. (i) & (ii)
4. (i), (ii) & (iii)

2. Accounting transactions should be supported by sufficient evidence such as invoices or payment vouchers. Which is the concept these statements refer to?

(a) Accruals

(b) Objectivity

(c) Realization

(d) Consistency

3. Buy RM100,000 worth of Proton Perdana by using bank loan would be recorded in the ledger accounts as?

(a) Dr. Proton Perdana 100K & Cr. Bank 100K

2. Dr. Proton Perdana 100K & Cr. Creditors 100K
3. Dr. Proton Perdana 100K & Cr. Long Term Loan 100K
4. Dr. Proton Perdana 100K & Cr. Short Term Loan 100K 4) As per mentioned below are the purpose of preparing Trial Balance except:

(i) To check whether the business transactions have been accurately posted to each ledger account.

(ii) To facilitate the accountant in preparing the financial statements

(iii) To check whether debit balances equal credit balances

(iv) To check whether any error has been made or not

(a) (i), (ii) & (iii)

2. (i), (iii) & (iv)
3. (i), (ii), (iii) & (iv)
4. (i), (ii) & (iv)

5) What would be the effect of not recording Accrued Telephone Charges in the company account?

(a) Understate Net Profit & Overstate Liabilities

2. Understate Net Profit & Understate Liabilities

(c ) Overstate Net Profit & Overstate Liabilities

(d ) Overstate Net Profit & Understate Liabilities