Q28). Company need to record expenses and revenues when expenses are incurred and revenue are earned. Which concept described this statement?

1. Objectivity concept

(b) Materiality concept

(c) Separate Business Entity concept

(d) Accrual concept

Q29). On 1^st January 2020, ASSB paid via cash RM1,200 for rental expenses. This expenditure will result

in.. (assuming other items remain the same)?

I Assets increased by RM1,200 and Assets decreased by RM1,200

II Liabilities decreased by RM1,200 and Assets decreased by RM1,200

III Equity increased by RM1,200 and Assets decreased by RM1,200

IV Equity decreased by RM1,200 and Assets decreased by RM1,200

Q30). ASSB paid liabilities for RM5,000 will result in (assuming other items remain the same)?

(a) Equity decreased by RM5,000 and Assets decreased by RM5,000

(b) Assets decreased by RM5,000 and Liabilities decreased by RM5,000

(c ) Revenue decreased by RM5,000 and Assets decreased by RM5,000

(d ) Expenses decreased by RM5,000 and Assets decreased by RM5,000

Q31). Received telephone bills from Telekom Malaysia Berhad will be recorded in journals as?

(a) Dr Telephone Charges and Cr Bank

(b) Dr Telephone Charges and Cr Prepaid Telephone Charges

(c) Dr Telephone Charges and Cr TMB

(d) Dr TMB and Cr Telephone Charges

Q32) Chongs Brothers Sdn Bhd (CBSB) received RM5,000 from their debtors Jennifer & Sisters Sdn Bhd (JSSB). These transactions will be recorded in the journals as?

(a) Dr CBSB and Cr JSSB

(b) Dr Bank and Cr JSSB

(c) Dr Bank and Cr CBSB

(d) Dr CBSB and Cr Debtors

Q33) Buy computers on credit to be sold to the company customers will be recorded as?

(a) Dr Purchases and Cr Bank

(b) Dr Purchases and Cr Creditors

(c) Dr Computers and Cr Bank

(d) Dr Computers and Cr Creditors