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- 1. Multiple Choice
Which one of the following is a current asset?
Mortgage
Stock
Trade creditors
Sales revenue
- 2. Multiple Choice
Which one of the following is a current asset?
Gross profit
Retained earnings
Trade creditors
Trade debtors
- 3. Multiple Choice
Which one of the following is a non current asset?
Badwill
Goodwill
Cashwill
Sharewill
- 4. Multiple Choice
Which one of the following is a non current asset?
Stock
Cash
Machinery
Dividends payable
- 5. Multiple Choice
A non current asset may also be referred to as a ???
fixed asset
sealed asset
floated asset
current liability
- 6. Multiple Choice
A statement of comprehensive income is also known as what??
Balance sheet
Break even analysis
Cash flow forecast
Profit & loss account
- 7. Multiple Choice
A statement of financial position is also known as what ???
Current ratio
Balance sheet
Cash flow forecast
Profit & loss account
- 8. Multiple Choice
Which one of the following is an example of a non current asset ???
Tax payable
Inventories
Vehicle
Trade payables
- 9. Multiple Choice
Profit kept in the business and not paid out as dividends to shareholders = ???
Retained assets
Retained liabilities
Retained earnings
Retained balance
- 10. Multiple Choice
Goodwill is an ____ asset.
income
introverted
invisible
intangible
- 11. Multiple Choice
Cash at bank and in hand is a ???
Non current asset
Current asset
Current liability
Dividend
- 12. Multiple Choice
The amount of money invested into the business by shareholders in exchange for shares = ???
Share capital
Other reserves
Share continent
Share pool
- 13. Multiple Choice
Example of a non current liability = ???
Trade payables
Bank overdraft
Bank loan
Trade receivables
- 14. Multiple Choice
Trade receivables are also known as what ???
Trade supplier
Trade debtors
Trade creditors
Trade income
- 15. Multiple Choice
Trade payables is also known as what ???
Trade debtor
Trade interest
Trade creditor
Trade supplier
- 16. Multiple Choice
Gross profit formula = ???
Sales revenue / Cost of sales x 100
Sales revenue - Cost of sales - Other expenses
Sales revenue x Cost of sales
Sales revenue - Cost of sales
- 17. Multiple Choice
Money received from selling good/services to customers = ???
Cost of sales
Revenue
Interest received
Share capital
- 18. Multiple Choice
Cost of sales include ???
Current assets
Non current liabilities
Dividends
Raw materials
- 19. Multiple Choice
Document that shows assets, liabilities and capital of a business = ???
Break even analysis
Statement of comprehensive income
Statement of profit and loss
Statement of financial position
- 20. Multiple Choice
Document which outlines the revenue and expenses of a business = ???
Statement of comprehensive income
Cash flow forecast
Statement of financial position
Balance sheet
- 21. Multiple Choice
Interest payable is an example of what ???
Operating profit
Cost of sales
Finance costs
Current asset
- 22. Multiple Choice
____ are the debts of a business.
Dividends
Liabilities
Assets
Share capital
- 23. Multiple Choice
Which one of the following is not a type of profit shown on a SOCI??
Operating profit
Gross profit
Retained profit
Net profit
- 24. Multiple Choice
Stock is also known as ???
Antiquities
Provisions
Inventories
Equivalents
- 25. Multiple Choice
Financial accounts are submitted to who ???
MENSA
UNICEF
GDPR
HMRC
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