Have an account?
Skip to Content
Introducing new Paper mode
No student devices needed. Know more
12 questions
Show Answers
See Preview
- Multiple ChoicePlease save your changes before editing any questions.
Gross profit is sales minus
Expenses
Cost of sales
Opening stock
Carriage inwards
- Multiple ChoicePlease save your changes before editing any questions.
The stock you have at the start of the year is called
Closing stock
Out of date
Opening stock
Out of date stock
- Multiple ChoicePlease save your changes before editing any questions.
A car costing £10,000 depreciating by 15% per year will be worth how much at the end of the year
£9,000
£8,000
£8,500
£1,500
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is not a trading expense
Wages
Carriage inwards
Customs duty
Purchases
- Multiple ChoicePlease save your changes before editing any questions.
Carriage outwards is cost of getting raw materials delivered to your business
True
False
- Multiple ChoicePlease save your changes before editing any questions.
The following is not a Business expense
Depreciation
Wages
Purchase new company car
Light & Heat
- Multiple ChoicePlease save your changes before editing any questions.
Fixed assets should last less than 1 year
True
False
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is not a fixed asset
Premises
Land
Machinery
Closing Stock
- Fill in the BlankPlease save your changes before editing any questions.
Closing stock, cash & debtors are examples of Current ___________
- Multiple ChoicePlease save your changes before editing any questions.
Working capital is
Current assets - current liabilities
Current assets + current liabilities
None of the above
- Multiple ChoicePlease save your changes before editing any questions.
A 5 year loan is an example of
Fixed assets
Current assets
Current liabilities
Financed by
- Multiple ChoicePlease save your changes before editing any questions.
They owe you money within a year
Bank
Creditors
Debtors
Customers