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- 1. Multiple Choice
How is Bank classified on a Balance Sheet?
Current Liability
Current Asset
PPE
Income
- 2. Multiple Choice
How is Accounts Receivable classified on a Balance Sheet?
PPE
Current Asset
Current Account
Current Liability
- 3. Multiple Choice
How is a Vehicle classified on a Balance Sheet
PPE
Non-Current Asset
Current Asset
Investment
- 4. Multiple Choice
How is Depreciation - Vehicle classified on an Income Statement?
Administrative Expense
Finance Cost
Vehicle Expense
Income
- 5. Multiple Choice
How is Advertising classified on an Income Statement?
Type of Business Expense
Administrative Expense
Finance Cost
Income
- 6. Multiple Choice
How is Bad Debts classified on an Income Statement?
Type of Business Expense
Administrative Expense
Finance Cost
Income
- 7. Multiple Choice
How is Discount Allowed classified on an Income Statement?
Type of Business Expense
Administrative Expense
Finance Cost
Income
- 8. Multiple Choice
How is Electricity classified on an Income Statement?
Type of Business Expense
Administrative Expense
Finance Cost
Income
- 9. Multiple Choice
How is Shop Rent classified on an Income Statement?
Type of Business Expense
Administrative Expense
Finance Cost
Income
- 10. Multiple Choice
How is Interest on Loan classified on an Income Statement?
Type of Business Expense
Administrative Expense
Finance Cost
Income
- 11. Multiple Choice
How is a Accumulated Depreciation - Vehicle classified on a Balance Sheet?
PPE
Non-Current Asset
Current Asset
Non-Current Liability
- 12. Multiple Choice
How is a Loan - 5 Years classified on a Balance Sheet?
PPE
Non-Current Asset
Current Asset
Non-Current Liability
- 13. Multiple Choice
How is Goodwill classified on a Balance Sheet?
PPE
Investment Asset
Current Asset
Intangible Asset
- 14. Multiple Choice
How is Shares classified on a Balance Sheet?
PPE
Investment Asset
Current Asset
Intangible Asset
- 15. Multiple Choice
How is Shop Fittings classified on a Balance Sheet?
PPE
Investment Asset
Current Asset
Intangible Asset
- 16. Multiple Choice
How is Accounts Payable classified on a Balance Sheet?
Current Asset
Current Liability
PPE
Intangible Asset
- 17. Multiple Choice
Which of the following appears on an Income Statement and a Balance Sheet?
Capital
Owner's Equity
Net Profit
Income
- 18. Multiple Choice
How is Fees Received classified on an Income Statement?
Type of Business Expense
Administrative Expense
Finance Cost
Income
- 19. Multiple Choice
Which two numbers must be the same on a Balance Sheet?
Net Profit and Net Assets
Total Assets and Total Liabilities
Net Assets and Closing Capital
Net Assets and Opening Capital
- 20. Multiple Choice
How is Drawings classified on a Balance Sheet?
Current Asset
Current Liability
Owner's Equity
Intangible Asset
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