

Non-Current Assets Quiz
Flashcard
•
Business
•
10th Grade
•
Practice Problem
•
Hard
Nusrat 58097/TCHR/GC
FREE Resource
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11 questions
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1.
FLASHCARD QUESTION
Front
Which of the following is classified as a non-current asset? A) Cash B) Inventory C) Accounts Receivable D) Property, Plant, and Equipment.
Back
D) Property, Plant, and Equipment.
2.
FLASHCARD QUESTION
Front
Which of the following categorized as Current assets?
A) Furniture
B) Inventory
C) Land and Buildings
D) Accounts Payable
Back
B)Inventory
3.
FLASHCARD QUESTION
Front
3)Which item is NOT included in the Statement of Financial Position?
A) Revenue
B) Equity
C) Liabilities
D) Assets
Back
A) Revenue
4.
FLASHCARD QUESTION
Front
4) Current liabilities are typically expected to be settled within:
A) 6 months
B) 1 year
C) 5 years
D) 10 years
Back
B) 1 year
5.
FLASHCARD QUESTION
Front
5)Equity in the Statement of Financial Position represents:
A) Total Assets minus Total Liabilities
B) Total Revenue minus Total Expenses
C) Total Liabilities minus Total Assets
D) Total Assets plus Total Liabilities
Back
A) Total Assets minus Total Liabilities
6.
FLASHCARD QUESTION
Front
6.Calculate the amount of Current Assets from the following information as of December 31, 2023:
Cash: $10,000
Accounts Receivable: $15,000
Inventory: $20,000
Premises : $5,000
Accounts Payable: $8,000
Short-term Loans: $7,000
Back
$ 50 000
7.
FLASHCARD QUESTION
Front
Calculate the amount of Capital from the following information as of December 31, 2023:
Cash: $10,000
Accounts Receivable: $15,000
Inventory: $20,000
Premises : $5,000
Accounts Payable: $8,000
Short-term Loans: $7,000
Back
$35 000
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