BAAB 1014 BUSINESS ACCOUNTING Assignment Guidelines and Rubrics TEST - 20% Learning outcomes 1. Explain the basic concepts of accounting, bookkeeping and cost accounting terminology. 2. Systematically recording business transactions in appropriate accounting records. 3. Prepare basic financial statements, management reports and various alternative cost management system Instructions: Answer all questions. QUESTION 1 Multi Cakes Sdn Bhd is involved in selling cakes. You are required to classify the following costs according to their behaviour. No. Cost items Fixed cost Variable Semi-variable costs costs 1 . Flour 2. Electricity expenses 3. Sugar 4. Salary of baker 5. Salary of cashier 6. Depreciation of machine 7 . Insurance 8. Telephone expenses 9. Directors Salary 10. Baking powder (Total: 5 Marks)