Gust

What is IFRS 10?

• Financial Instruments

• Leases

• Consolidated Financial Statement

• Impairment of Assets

Which of the following ratios is a measure of profitability?

• Long term liabilities / Shareholder's funds

• Trade receivables / revenue x 365

• Inventory / cost of sales x 365

• Revenue / total long term capital

The amount spent for capital expenditure will be reported in which section of the statement of cash flows?

• Investing activities

• Operating Activities

• Financing Activities

Which type of journal entries are made at the end of each accounting period so that the financial statements better reflect the accrual method of accounting

• Reversing

• Adjusting

• Closing

Which is defined as sales minus all variable expenses?

• Gross Profit

• Net Profit

• Contribution Margin