6. Abdul Hadee Enterprise is involved in the trading of electrical appliances. A customer placed an order to buy a washing machine at a price of RM1,950 on 30 April 2021 but no deposit was paid. Due to shortage of inventory, the business delivered the washing machine only on 2 May 2021. The customer paid RM950 on 3 May 2021 and the balance of RM1,000 on 3 June 2021. Assuming that the accounting period of the business ended on 30 April 2021, when should the sales revenue transaction be recorded? A. B. C. D. 30 April 2021 2 May 2021 3 May 2021 3 June 2021 7. Accrued revenue of an entity may be defined as A B. C. D. the amount earned but not yet received by the entity during a particular financial year. the amount incurred but not yet paid by the entity during a particular financial year. the amount received but not yet earned by the entity during a particular financial year. the amount earned and received by the entity during a particular financial year. 8. Failure to make adjustment to the amount of prepaid expenses at the financial year-end would have the following effects A. B. C. D. net profit is overstated; asset is overstated. net profit is understated; asset is understated. net profit is overstated; asset is understated. net profit is understated; asset is overstated. 9. When is the cost of goods sold determined in a periodic inventory system? A. B. C. D. At the end of the accounting period. Each time a sale occurs. When customers settle their bills. None of the above. 10. A monthly bank statement might show the following items EXCEPT A. B. C. D. standing order unpresented cheque charges imposed by the bank inter-bank fund transfer