1) Dividend will reduce ________________?

1. Owner Investment
2. Assets
3. Liabilities
4. None of the above

2) Accountants record business transactions based on standards issued by MASB. The concept that can explain the reason for doing so would be?

(a) Materiality Concept

(b) Conservatism Concept

(c) Objectivity Concept

(d) Realisation Concept

3) Financial Statements of a company include the following, except for?

(i) Statement of financial position

(ii) Statement of Profit or Loss

(iii) Statement of Cash flows

(iv) Statement of Changes in Equity

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

(b) (i), (ii) & (iii)

(c) (i), (ii) (iii) & (iv)

(d) None of the above

4) Income tax expenses will reduce ________________.

(i) Shareholders capital

(ii) Net Profit

(iii) Assets

(iv) Liabilities

(a) (i) & (ii)

(b) (i), (ii) & (iv)

(c) (ii), (iii) & (iv)

(d) (ii) & (iv)