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- 1. Multiple ChoiceWhich of these does a balance sheet showHow much gross profit a business madeIts total revenueWhat a business owns and owesHow much it paid in rent
- 2. Multiple ChoiceWhat period of time does a balance sheet cover?One quarterOne moment in timeOne yearOne tax year
- 3. Multiple ChoiceWhich of these might appear on a balance sheet?Cost of salesCash flow forecastStaff salariesCreditors
- 4. Multiple ChoiceWhich of these is a liability?Cash in bankMoney owed to other business (creditors)StockMachinery
- 5. Multiple ChoiceCurrent liabilities are Long termTrueFalse
- 6. Multiple ChoiceWhich of these is an asset?A loan to buy a vanA satisfied customerAny stock (Inventory) that you haveReduced rent
- 7. Multiple ChoiceFixed assets can be converted to cash really quicklyTrueFalse
- 8. Multiple ChoiceA bank loan is normally along term liabilitya current liabilitya fixed asseta current asset
- 9. Multiple ChoiceWhich of these does not appear on a balance sheet?A loan to the bankMachinery you ownAny cash in your bankThe breakeven point
- 10. Multiple ChoiceThe Accounting Equation is: Assets = Capital - LiabilitiesTrueFalse
- 11. Multiple ChoiceWorking Capital is:Assets - LiabilitiesCurrent Assets - Current LiabilitiesFixed Assets - Long-term LiabilitiesNone of the above
- 12. Multiple Choice
Examine the picture and select the value for Total Assets300,000800,0002,000,0002,500,000 - 13. Multiple ChoiceExamine the picture and select the value for Net Assets300,000800,0002,000,0002,500,000
- 14. Multiple ChoiceExamine the picture and select the value for Working Capital300,000800,0002,000,0002,500,000
- 15. Multiple ChoiceExamine the picture and select the value for the funds available to shareholders1,200,0001,400,000200,0002,500,000
- Answer choicesTagsAnswer choicesTags