Unit 3.4 Final accounts

What is a guiding principle for accounting information?

• Correct spelling

• Confidentiality

• You need to add images to the information

• Correct grammar

Is the Blance Sheet a main business account?

• True

• False

Gross profit: equal to sales revenue less______ of sales.

What is Window dressing method?

• Presenting the accounting information at the end of the year

• Adding curtains

• Inflating the value of intangible assets

• Presenting reliable information

What does the profit and loss account show?

• Shows how the profits after taxes are distributed between the owners

• The profit or loss of a business during a particular trading period

• If the business is engaging in ethical practices

• How many units need to be produced to reach break even