Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q2). Fill up the blanks. Accountants need to record the Business Transactions according to guidelines in which the guidelines are consistent with The guidelines will

image text in transcribed

Q2). Fill up the blanks. Accountants need to record the Business Transactions according to guidelines in which the guidelines are consistent with The guidelines will promote Objectivity concepts. (4 marks) Q3) Mak Munah sells nasi lemak everyday. She allows only cash sales. Her suppliers also demanded her to pay in cash. What concept does not suite her? (2 marks) Q4). As at 31 December 2020, ABC Sdn Bhd total sales for the year are RM300 million. Alex, the CEO of ABC Sdn Bhd, instructed the Company accountant to declare / record the Company sales at RM250 million only. The undeclared sales of RM50 million will be recorded next year. However, the accountant accidentally record the expenses associated with the undeclared sales. What are two (2) Accounting Principles that ABC Sdn Bhd did not follow? (4 marks)

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_2

Step: 3

blur-text-image_3

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

Government Audit An Effective Tool For The Anti Corruption Struggle In The New Era Of Chinas Governance

Authors: Bowen Zou, Yanzhe Dr. Zhang, Yang Dr. ZHAO, Jian Dr. Zhang

1st Edition

1844646068, 978-1844646067

More Books

Students also viewed these Accounting questions

Question

Describe effectiveness of reading at night?

Answered: 1 week ago

Question

find all matrices A (a) A = 13 (b) A + A = 213

Answered: 1 week ago