Among the following branches of accounting, which branch focuses on the production of accounting information for business management to enable them to manage and control daily operations and make business plans? A. Management accounting B. Financial accounting C. Auditing D. Accounting information systems

Based on the principle of revenue recognition, revenue is recorded: A. When it has been collected .. B. Only when it has been collected and all expenses corresponding to the revenue have been paid. C. When it is obtained D. Any time deemed appropriate by the accountant.

When a business chooses a particular accounting method or procedure and is to be used from one accounting period to another, this is in line with the principle A. objectivity B. full exposure C. revenue recognition D. consistency

When a company buys land on loan, what is the effect of this transaction on the accounting equation? A. Decline in assets and liabilities. B. A decrease in assets and an increase in owners equity. C. Increase in assets and liabilities. D. Increase in owner's liabilities and equity.

The ABU business bought furniture worth RM38,500, of which 50% was paid in cash and the rest on credit. The exact journal entries for this transaction are: A. Furniture Debit RM38,500, Cash Credit RM19,250, ABB Credit RM19,500. B. Furniture Debit RM38,500, Cash Credit RM19,500, ABB Credit RM19,250. C. Furniture Debit RM38,500, Cash Credit RM19,250, ABB Credit RM19,250. D. Furniture Credit RM19,250 Cash Credit RM19,500, ABB Debit RM38,500.

The principle of conservatism in accounting is A. Choose a method of increasing profits. B. Choose a method of reducing profits. C. Choose a method of increasing assets D. Choose the method of deferring losses.

A business that changes the input of goods sold to a customer is referred to as a business: A. service B. manufacturing C. trade D. singular

The accounting concepts that require economic data to be recorded in ringgit are: A. cost concept B. objective concept C. the concept of a business entity D. the concept of units of measure

Which one of the following is an accounting equation? A. Assets + Liabilities = Owners Equity B. Owners Equity + Assets = Liabilities C. Assets = Owner's Equity - Liabilities D. Assets - Liabilities = Owner's Equity

If total liabilities increase by RM20,000 and owner's equity increases by RM5,000, the change in total assets is: A. increased RM20,000 B. decreased RM20,000 C. decreased RM25,000 D. increased RM25,000