This quiz works best with JavaScript enabled. Home > Accounting > Financial Accounting > Financial Accounting – Quiz 141 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Financial Accounting Quiz 141 (4 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The Ordinances played a major role in regulating financial reporting during this period, until the Malaysian Companies Act (based on the Victorian Act 1960) was enacted in 1965. A) True. B) False. Show Answer Correct Answer: B) False. 2. Trade discount is recorded in the books of original entry. A) True. B) False. Show Answer Correct Answer: B) False. 3. Which of the following industries is not a heavy industry. A) Cotton textile. B) Cement. C) Iron and Steel. D) Ship building. Show Answer Correct Answer: A) Cotton textile. 4. On July 1 of the current year, an entity received a one-year note receivable bearing interest at the market rate. The face amount of the note receivable and the entire amount of the interest are due in one year. When the note receivable was recorded on July 1, which of the following was debited? A) Interest receivable. B) Unearned discount on note receivable. C) Interest receivable and unearned discount on note receivable. D) Neither interest receivable nor unearned discount on note receivable. Show Answer Correct Answer: D) Neither interest receivable nor unearned discount on note receivable. ← PreviousRelated QuizzesAccounting QuizzesFinancial Accounting Quiz 1Financial Accounting Quiz 2Financial Accounting Quiz 3Financial Accounting Quiz 4Financial Accounting Quiz 5Financial Accounting Quiz 6Financial Accounting Quiz 7Financial Accounting Quiz 8Financial Accounting Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books