Financial Statements_classification

Financial Statements_classification

Professional Development

15 Qs

quiz-placeholder

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Financial Statements_classification

Financial Statements_classification

Assessment

Quiz

Business

Professional Development

Practice Problem

Medium

Created by

Dipali Krishnakumar

Used 3+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Classify the Item -Amount owed by the business to the Suppliers

Asset
Liability
Income
Expense
Owners Equity/Net Worth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Classify the Item -Bank Balance

Asset
Liability
Income
Expense
Owners Equity/Net Worth

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Classify the Item -Land And Building

Asset
Liability
Income
Expense
Owners Equity/Net Worth

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Classify the Item -Loan taken repayable in 10 years

Current Asset
Current Liability
Non Current Liability
Non current Asset
Owners Equity/Net Worth

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Classify the Item -Loan repayable next year

Current Asset
Current Liability
Non Current Liability
Non current Asset
Owners Equity/Net Worth

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Classify the Item -Advance from Customers (< 1 year) for work to be done

Current Asset
Current Liability
Non Current Liability
Non current Asset
Owners Equity/Net Worth

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Classify the Item -Rent Advance Paid by our business

Asset
Liability
Income
Expense
Owners Equity/Net Worth

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