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- 1. Multiple Choice
Which of the following statement is true?
Bookkeeping is recording all the business transaction and owner's own transaction
Bookkeeping deals with record-keeping and is one only aspect of accounting
Bookkeeping and accounting are one and the same since the bookkeeping function is includes in accounting process
None of the above
- 2. Multiple Choice
Which of the following business has unlimited liability
Sole trader
Limited Liability Partnership
Private Limited Company
Public Limited Company
- 3. Multiple Choice
Who is Luca Pacioli
The Father of Accounting
The Mother of Accounting
Accountant
The Brother of Accounting
- 4. Multiple Choice
Which type of business organisation has the following characteristics?
- conducts business separate from its owners
- the owners have limited liability
- the organisation is a taxable entity
Sole trader
Partnership
Company/corporation
None of the above
- 5. Multiple Choice
Which of the following would NOT be considered as internal users of accounting data for a company?
External auditor
CEO of the company
President of the company
Salesman of the company
- 6. Multiple Choice
Which of the following are the types of financial statements
1.Statement of Cash Flow
2.Statement of Comprehensive Income
3.Statement of Financial Position
4. Trial balance
1, 2, 3 and 4
1, 2 and 3
2 and 4
2, 3 and 4
- 7. Multiple Choice
What is the system introduced by by Luca Pacioli?
Book Keeping
Accounting
Double Enter
Double Entry
- 8. Multiple Choice
Accounting graduates can works as
1.External Auditors
2.Lawyers
3.Accountants
4.Tax Officers
1,3 and 4
1 and 3
1, 2 and 3
3 and 4
- 9. Multiple Choice
Which type of business organization has the following characteristics?
- is owned by 2 to 20 person
- has unlimited liability
- has no legal obligation to audit the accounts
sole trader
partnership
company
none of above
- 10. Multiple Choice
Which type of business organization has a separate legal entity from its owners, and the owners are not liable for debts of business?
Sole trader
Partnership
Limited Company
None of the above
- 11. Multiple Choice
Statement of Cash Flow shows the movement in owner's equity over a period
True
False
- 12. Multiple Choice
In a partnership, all the partners can involve themselves in the management and decision making process.
True
False
- 13. Multiple Choice
A partnership business normally owned by 2 to 50 partners
True
False
- 14. Multiple Choice
The process of identify, classify, recording and communicating business transaction is called as book-keeping.
True
False
- 15. Multiple Choice
Proton Berhad is example of public limited company.
True
False
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