Q5) Which of the following is not non-current asset?

(a) Brand

(b) Shares in other company

(c) Motor Vehicle

(d) Debtors

Q6) General Journal is best described as___________________.

1. Second book of entry
2. T account
3. List of all debit and credit balances
4. Identify which accounts need to be debited and credited

Q7) Dividend will reduce ________________?

1. Owner Investment
2. Assets
3. Liabilities

(d) None of the above

Q8) Buy RM100,000 worth of Proton Perdana by using bank loan would be recorded in the ledger accounts as?

(a) Dr. Proton Perdana 100K & Cr. Bank 100K

2. Dr. Proton Perdana 100K & Cr. Creditors 100K
3. Dr. Proton Perdana 100K & Cr. Long Term Loan 100K
4. Dr. Proton Perdana 100K & Cr. Short Term Loan 100K

Q9) When will Company recognize Revenue and Expenses under Accruals concept?

(i) Expenses Incurred

(ii) Revenue Earned

(iii) Revenue Paid

(iv) Expenses Paid

(a) (ii) & (iv)

(b) (i) & (ii)

(c) (i), (ii) & (iv)

(d) (i), (ii), (iii) & (iv)