15. Salaries of RM 5,100 were wrongly posted to the salaries account as RM 1,500. This is an example of ___________. A. Error of principle B. Error of posting C. Error of commission D. Compensating error 16. When a transaction is recorded without due regard to the fundamental principles of accounting, it is an example of ________________. A. Error of omission B. Error of posting C. Error of casting D. Error of principle 17. One-sided errors are corrected via _________. A. Journal B. Profit and loss adjustment account C. Trial balance D. Suspense account 18. The profit made by a business in 2020 was RM35, 400. The proprietor injected new capital of RM10, 200 during the year and withdrew a monthly salary of RM 500. If net assets at the end of 2020 were RM95, 100, what was the proprietors capital at the beginning of the year? A. RM 50,000 B. RM 55,500 C. RM 63,500 D. RM 134,700 19. Trial Balance might match in spite of presence of _____________. A. Errors of complete omission and error of principle B. Error of complete omission C. Error of commission D. Error of principle

BBD2104/BBD2104N/ Set A Page 8 of 13 20. Misstating the information could influence users of the financial statements. Which accounting concept best describe above statement? A. The qualitative concept B. The historical concept C. The materiality concept D. The going concern concept 21. RM 2,000 received from Smith whose account was previously written off as a bad debt should be credited to ____________. A. Bad debts recovered account B. Smith account C. Cash account D. None of above 22. A machine with a cost of RM 40,000 and accumulated depreciation of RM 36,500 is sold for RM 5,500. What is the amount of the gain or loss on disposal of the fixed asset? A. RM 2,500 loss B. RM 1,000 loss C. RM 2,000 loss D. RM 2,000 gain 23. A vehicle with a cost of RM 120,000 has an estimated residual value of RM 8,000 and an estimated life of 7 years. What is the amount of depreciation for the third full year, using the straight line method? A. RM 21,666 B. RM 18,000 C. RM 18, 720 D. RM 16, 000 24. The estimated value of fixed assets at the time it is to be retired from service is refer to _____________. A. Net value B. Residual value C. Cost value D. Carrying value

BBD2104/BBD2104N/ Set A Page 9 of 13 25. Net realizable value of accounts receivable is __________. A. Accounts receivable plus allowance for doubtful debts B. The same as accounts receivable because all accounts receivable are assumed to be collectible C. Accounts receivable minus allowance for doubtful debts D. None.