Basics of FSA Quiz 2023

How much Sales/Revenue a business generated during the year.

• Balance Sheet
• Profit & Loss
• Cash Flow

How much the business owes to external parties

• Balance Sheet
• Profit & Loss
• Cash Flow

What were the expenses for the business during the year

• Balance Sheet
• Profit & Loss
• Cash Flow

How much cash the business generated from operating activities during the year

• Balance Sheet
• Profit & Loss
• Cash Flow

What is the value of assets owned by the business (as per books)

• Balance Sheet
• Profit & Loss
• Cash Flow

Classify the Item -Bank Balance

• Asset
• Liability
• Income
• Expense
• Owners Equity/Net Worth

Classify the Item -Land And Building

• Asset
• Liability
• Income
• Expense
• Owners Equity/Net Worth

Classify the Item -Loan taken repayable in 10 years

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

Classify the Item -Loan repayable next year

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

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