Accounting Terms

In the following 10 questions, choose the option where you would slot the following financial items in................
Trading Stock

• Asset
• Inventory
• Income
• Current Asset

Bed Debts Recovered

• Other Operating Income
• Gross Profit
• Operating Expense
• Interest Income

Prepaid Expenses

• Current Asset
• Trade and Other Receivables
• Debtors Control
• Trade and Other Payables

Trading Stock Deficit

• Inventory
• Current Liabilities
• Current Assets
• Operating Expenses

Current Portion of Loan

• Trade and other Receivables
• Operating Expenses
• Trade and Other Payables
• Cash and Cash Equivalents

Capital

• Non Current Liabilities
• Owners Equity
• Capital Withdrawals
• Net Profit

Bank Overdraft

• Cash and Cash Equivalents
• Trade and Other Payables
• Non current Liabilities
• Current Liabilities

Income Received in Advance

• Trade and Other Receivables
• Current Assets
• Other Operating Income
• Trade and Other Payables

Advertising

• Owners Equity
• Other Operating Income
• Operating Expenses
• Current Liabilities

Consumable Stores

• Inventory
• Current Asset
• Owners Equity
• Operating Expenses