Which accounting convention is that percretion must be separated from business transaction (a) Consistent (b) Gong Concem (c) Separate Entity (d) Materiality 2. Which of the equation is correct for owner'equity (a) Owner's equity - Capital) Profit Lowes Drawings b) Owner's equity - Acts Drawing (s) Owner's equity - Capital - Profil Drawings d) Owner's equity - Revenue - Expenses 3. Which of the following is NOT an external wer of accounting information Tex muthenties (b) Beard of directe c) Pential investors (d) Financial institutions 4. Which of the following is NOT ana (d) Buildings ib) Cash balance le) Account receivables (d) Capital 5. A provision fordults is rated a) when dhe become bankrupt. b) whes debes cease to be in busine. Ich provide ble bed det (d) to write of bad det When a firm received cash from customer Account Receivable amount RM500, what is the effect set of the fim (a) Increased by RMS Decreased by RMS c) Increased by RM1.000 (d) No change 1. If beginning capital was RM20.000, ending capital as RM40.000. and the ones withdrawals een RM 20,000, the mount of income or not loss was (a) Netice RM10,000 i Netice RM15,000 (c) Not loss RM10,000 Net fost RM30,000 On 30 June 21, Pomerad RM7,500 anh emament services to be performed over one your period. Pomer follows a policy of recording all prepaid expenses to set wounts at the time of cash payment. The adjusting entry on 31 December 2021 for Pamer would include: (s) debit to a prepaid expense for RM3.750 b) A debit to an expers for RM4375 (c) Acredit so bility for RM3,750. (d) A debito inexpense RMI.750 If total liabilities increased by RM2.000, then fa) als and owner's equity each increased by RMICO b) werequiry masthe increased by RM2,000 (e) asets must have increased by RM2.000, e owner's equity must have decreased by RM2,000 assets must have decreased by RM2.000 10. Ifcquity is RM300,000 and liabilities at RM190,000, then sical (a) RM190,000 b) RM300,000 (c) RM110.000 (d) RM40,000 1. Which accounting convention states that, personal transaction must be separated from business transaction? (a) Consistent (b) Going Concern. (c) Separate Entity. (d) Materiality. 2. Which of the equation is correct for owner's equity? (a) Owner's equity = Capital +/-) Profit/(Losses)-Drawings (b) Owner's equity - Assets - Drawings (e) Owner's equity Capital + Profit + Drawings (d) Owner's equity = Revenue - Expenses 3. Which of the following is NOT an external user of accounting information? (a) Tax authorities (b) Board of directors. (c) Potential investors. (d) Financial institutions. 4. Which of the following is NOT an asset? (a) Buildings, (b) Cash balance (c) Account receivables. (d) Capital 5. A provision for doubtful debts is created (a) when debtors become bankrupt. (b) when debtors cease to be in business. (c) to provide for possible bad debts. (d) to write off bad debts. 6. When a firm received cash from customer (Account Receivable) amount RM500, what is the effect to asset of the firm: (a) Increased by RM500, (b) Decreased by RM500. (c) Increased by RM1,000. (d) No change
