.7. Identify whether each of the following organizations is a private entity or a non -private entity and determine the accounting standards that should be applied by each organization:
a) Bumi Amarda Bhd.
b) BIMB Securities Sdn. Bhd. - is a subsidiary of BIMB Holdings Berhad.
c) Skop Productions Sdn. Bhd.
d) IJM Construction Sdn. Bhd. - is a subsidiary of IJM Corporation Berhad.
8. Explain the meaning of ‘Significant Accounting Policy’ by including TWO (2) examples of appropriate accounting policies.