Learn more in SFP

SFP stand for?

• Statement of Finance Problem

• Statement of Financially Policies

• Statement of Financial Position

What is the other term of SFP?

• Income Statement

• Balance Sheet

• Cash Flow Statement

What are the (3) components of State of Financial Position?

• Assets

• Income

• Equity

• Liabilities

• Expense

Which is NOT a Contra Assets?

• Accumulated Depreciation

• Accounts Receivable

• Allowance in Bad Debts

What kind of SFP Form is vertically arranged?

• Account Form

• Report Form

What kind of SFP form is horizontally arranged?

• Account Form

• Report Form

Which is NOT listed in the "Heading" of every Financial Statement?

• Name of Business

• Accounting Period

• Title of the Report

• Currency

• Asset Section

"Accounts Receivable" will be listed in what particular section?

• Asset Section

• Liabilities Section

• Equity Section

"Accounts Payable" will be listed in what particular section?

• Asset Section

• Liabilities Section

• Equity Section

"Unused Supplies" will be listed in what particular section?

• Asset Section

• Liabilities Section

• Equity Section