QUESTION 1 Which of the following calculates a trader's net profit for a period? A. Closing net asset + drawings - capital introduced - opening assets B. Closing net asset- drawings + capital introduced- opening net assets C. Closing net assets-drawings- capital introduced - opening net assets D. Closing net assets + drawings + capital introduced - opening net assets QUESTION 2 A debit balance of $200 in a cash account shows that A. there was $200 cash in hand B. cash has been overspent by $200 C. the total of cash received was less than $200 D. $200 was the total of cash paid out QUESTION 3 A company's income statement for the year ended 31 December 2019 showed a net profit of RM 167,200. It was later found that RM 36,000 paid for the purchase of a motor van had been debited to motor repairs account. It is the company's policy to depreciate vans at 20% per year on the straight-line basis, with a full year's charge in the year of acquisition. What would be the adjusted net profit? A. RM 160,100 B. RM 170,100 C. RM 196,000 D. RM 210,000 MBA University of Cyberjaya 122020 AME 5323 Accounting QUIZ Page 2 of 6 QUESTION 4 Andy purchased a computer for the use in his business. The invoice for the computer showed the following costs related to the purchase: Computer RM 1,780 Additional Memory RM 190 Delivery RM 20 Installation RM 40 Maintenance (1 year) RM 50 A. RM 2,080 B. RM 2,030 C. RM2,010