10: At which point does the business recognise that there has been a transfer of ownership of goods and that the business has the legally enforceable right to receive payment for the goods?

Hint: Consider the points when revenue can be recognised.

When the goods are produced.

When the customer places an order for the goods.

When the customer receives and accepts the goods

When the customer pays for the goods.

11: The activities of DEF Ltd. for the year ended 31 December 2022 are listed: What is the annual cost of sales?

Hint: Consider the calculation of the Cost of Sales (also known as Cost of Goods Sold).

A. RM 121,300

B. RM 272,000

C. RM 394,000

D. RM 406,000

12: The activities of DEF Ltd. for the year ended 31 December 2022 are listed: What are the annual operating expenses?

Clear Selection

Hint: Add up all the expenses

A. RM 121,300

B. RM 272,700

C. RM 394,000

D. RM 406,000