SOCI & SOFP

Which one of the following is a current asset?

• Mortgage

• Stock

• Trade creditors

• Sales revenue

Which one of the following is a current asset?

• Gross profit

• Retained earnings

• Trade creditors

• Trade debtors

Which one of the following is a non current asset?

• Badwill

• Goodwill

• Cashwill

• Sharewill

Which one of the following is a non current asset?

• Stock

• Cash

• Machinery

• Dividends payable

A non current asset may also be referred to as a ???

• fixed asset

• sealed asset

• floated asset

• current liability

A statement of comprehensive income is also known as what??

• Balance sheet

• Break even analysis

• Cash flow forecast

• Profit & loss account

A statement of financial position is also known as what ???

• Current ratio

• Balance sheet

• Cash flow forecast

• Profit & loss account

Which one of the following is an example of a non current asset ???

• Tax payable

• Inventories

• Vehicle

• Trade payables

Profit kept in the business and not paid out as dividends to shareholders = ???

• Retained assets

• Retained liabilities

• Retained earnings

• Retained balance

Goodwill is an ____ asset.

• income

• introverted

• invisible

• intangible