Reference no: EM132576891

Question 1: The contents of the Financial Reporting section in a company's annual report must comply with:

a) Bursa Malaysia Listing Requirements

b) Companies Act 2016

c) Income Tax Act 1967

d) All of the above

Question 2: Information about accounting policies adopted in the preparation of financial statement is included in the:

a) Mission statement

b) Notes to the Financial Statements

c) Statement of Cash Flow

d) Statement of Changes in Equity

Question 3: Financial statements include the followings EXCEPT:

a) Director's Report

b) Statement of Profit or Loss and Other Comprehensive Income

c) Statement of Financial Position

d) Notes to the financial statements

Question 4: Information about the accounting policies adopted in preparing the financial statements are explained in the:

a) statement of changes in owner's equity.

b). notes to the financial statements.

c) statement of cash flow.

d) corporate governance statement.

Question 5: How often is the annual report being issued?

a) Every six month

b) Every month

c) Once a year

d) None of the above is correct

Question 6: Company directors are required to include in the annual report the company's and its subsidiaries financial statements as mandatorily required in the:

a) Section 169 (5) Company Act 1965

b) International Financial Reporting Standards (IFRS)

c) Income Tax Act 1967

d) Bursa Malaysia Listing Requirement

Question 7: The opinion given on the sufficiency of financial records kept by the company in accordance to the stated act and compliance with the approved accounting standards can be found in which of the following report?

a) Director's Report

b) Audit Committee's Report

c) Chairman's Statement

d) Auditor's Report

Question 8: An annual report contains a great many statements and reports. Which of the following statements/reports is NOT required either by statute or by accounting standards?

a) Financial highlights

b) Income statement

c) Operating and financial review

d)Chairman statement

Question 9: An annual report contains a great many statements and reports. Which one of the following statements/reports is not covered either by statute or by accounting standards?

a) Periodic summary

b)Cash flow statement

c)Auditors' report

d)Directors' report

Question 10: Which of the following items will typically be found in a corporate annual report?

a)Company budgets

b)Notes to Financial Statements

c)Selected financial data for competitor companies

d)Management's declaration that the auditors are responsible for the financial statements