25. SOFP (GCSE)
Assessment
•
Adam Lewis
•
Social Studies
•
10th Grade
•
2 plays
•
Easy
Student preview
8 questions
Show all answers
1.
OPEN ENDED
3 mins • 1 pt
Define 'statement of financial position'. [2K]
2.
OPEN ENDED
3 mins • 1 pt
Define 'assets'. [2K]
3.
OPEN ENDED
3 mins • 1 pt
Define 'liabilities'. [2K]
4.
MULTIPLE CHOICE
30 sec • 1 pt
What is the equation for 'shareholder's equity'.
5.
MULTIPLE CHOICE
30 sec • 1 pt
Which of these is NOT a 'current liability'?
6.
MULTIPLE CHOICE
30 sec • 1 pt
Which of these is NOT a 'non-current liability'?
7.
MULTIPLE CHOICE
30 sec • 1 pt
Which of these is NOT a 'non-current asset'?
8.
OPEN ENDED
3 mins • 1 pt
TH school's 'fixed assets' in 2022 equated to $5m, but in 2023 equated to $4.5m. TH school has not purchased or sold any fixed assets in the past year. Give one reason why TH school's fixed assets have fallen by $500,000. [1K, 1AP]
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