Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need asap thank you a.Sold goods is uses of cash. Select one: True False b.Purchase refers to purchase of inventory. Purchases of any other

i need asap thank you

a.Sold goods is uses of cash.

Select one:

True

False

b.Purchase refers to purchase of inventory. Purchases of any other assets, such as van, equipment and building, are never described as purchase.

Select one:

True

False

c.

For the following question, please refer to Case Study 1 (refer to Times main page).

Calculate the total current liabilities.

Select one:

a. RM42,426

b. RM32,246

c. RM42,246

d. RM32,426

d. Gross profit is calculated in the trading account.

Select one:

True

False

e.

Which of the following statements is true about the purpose of statement of cash flow?

Select one:

a. To assess how far the business will be able to meet future commitments.

b. To assess the profitability of the company.

c. To assess the liquidity position of the company.

d. To assess the leverage position of the company.

f.

In accounting record, all non current assets should be recorded based on market price.

Select one:

True

False

g.

For the following question, please refer to Case Study 1 (refer to Times main page).

How much is the net account receivables after adjustments?

Select one:

a. RM25,150

b. RM21,817

c. RM25,510

d. RM22,350

h.

Profit decreases capital.

Select one:

True

False

i.

Which of the following statements are true?

i) Sales of goods: Cash inflow

ii) Owner brought in additional capital into the business: Cash inflow

iii) Loan has been disbursed by bank: Cash outflow.

iv) Bought goods on credit: Cash outflow.

Select one:

a. iii and iv

b. i and ii

c. ii and iii

d. i and iii

j.

For the following question, please refer to Case Study 3 (refer to Times main page).

You are required to prepare the following separately and answer the following questions.

Based on the information given, compute the net cash generated from operating activities according to the statement of cash flows.

Select one:

a. RM10,600

b. RM6,600

c. RM10,800

d. RM6,400

k.

For the following question, please refer to Case Study 1 (refer to Times main page).

Compute total depreciation expenses for the current year for all non-current assets.

Select one:

a. RM19,000

b. RM22,117

c. RM16,275

d. RM55,477

l.

All assets will be depreciated except land.

Select one:

True

False

m.

For the following question, please refer to Case Study 1 (refer to Times main page).

Calculate the total operational expenses.

Select one:

a. RM104,651

b. RM104,118

c. RM100,785

d. RM101,318

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Commercial Energy Auditing Reference Handbook

Authors: Steve Doty

3rd Edition

1498769268, 978-1498769266

More Books

Students also viewed these Accounting questions

Question

Identify where SRI is practiced and explain how.

Answered: 1 week ago