Option given for question below: -

5. A master budget:

a	includes only financial aspects of a plan and excludes nonfinancial aspects
b	is an aid to coordinating what needs to be done to implement a plan
c	should not be altered after it has been agreed upon
d	includes broad expectations and visionary results

6. Partner's drawings are:

a	Amounts credited for working in the partnership.
b	Money borrowed from the partnership.
c	Partner's artwork.
d	Cash amounts withdrawn or private expenses paid by the partnership on behalf of a partner, in anticipation of profits.

7. Which of the following statements is likely to be true,for a company making profits?

a	The profit for the year will be greater than the gross profit.
b	Retained profits at the year end will be greater than retained profits at the beginning of the year.
c	Retained profits at the year end will be greater than shareholders' equity.
d	The operating profit will be less than the profit for the year.

8. What is the share capital?

a	An equity account representing the amount of assets invested in the company by its employees.
b	An equity account representing the amount of drawings taken from the company.
c	An equity account representing the amount of assets invested in the company by its shareholders.
d	A liability account representing the amount of liability in the company.

9. Land improvements are:

a	Assets that increase the usefulness of land, and like land, are not depreciated.
b	Expensed in the period incurred.
c	Assets that increase the usefulness of land, but that have a limited useful life and are subject to depreciation.
d	Included in the cost of the land account.

10. Sales total RM200,000 when variable costs total RM150,000 and fixed costs total RM30,000. The breakeven point in sales dollars is:

a	RM 30,000
b	RM200,000.
c	RM 40,000
d	RM120,000.