unit 3 quiz 5

The​ (a)   steps in as a last resort when a consumer and a financial institution cannot​ resolve a dispute ​

• Financial Ombudsman
• Financial Conduct Authority
• Office for Fair Trading
• FSCS
• Debt Counsellor

Organize these options into the right categories

Groups:

(a) Current Assets

,

(b) Non Current assets

,

(c) Current Liabilities

,

(d) Non Current Liabilities

• Cash

• Machinery

• Vehicles

• Inventory

• Trade Payable

• Prepayments

• Patents

• Overdraft

• 3 year Loan

• Trade Receivable

• Accrual

• Mortgage

Organize these options into the right categories

Groups:

(a) Revenue income

,

(b) Capital Income

,

(c) Revenue Expenditure

,

(d) Capital Expenditure

• wages

• Owners Capital

• rent received

• inventory

• rent

• Premises

• vehicles

• Shares

• credit sales

• Loan

• cash sales

• machinery

• interest received

on a statement of financial position, an accrual will ​ (a)   the value of our ​ (b)  

and a prepayment will ​increase the value of our​ (c)  

• increase
• Current Liabilities
• Current assets
• decrease

​ (a)   ratios allow you to measure the ability of a business to pay back it's short term debts. there are two ratios, one of which is the ​ (b)  

• Liquidity
• efficiency
• profitability
• current ratio
• return on capital employed

when making an adjustment to a statement of comprehensive income we need to ​ (a)   ​ the value of (b)   and ​ (c)   ​the value of (d)  

• increase
• accruals
• reduce
• prepayments

A ​ (a)   tells you whether the business has made a profit or not. The ​ (b)   predicts inflows and outflows. The ​ (c)   lets you know how much the business is worth at a given point in time.

• Statement of comprehensive income
• Cash flow forecast
• Statement of financial position

Organize these sources of finance into the right categories

Groups:

(a) Have to be paid back

,

(b) don't have to be paid back

• Donations

• Venture Capitalist

• Grants

• Owner's Capital

• Peer to peer lending

• Loan

Reorder the following to correctly identify the four functions of money

• Unit of

• account, Store of

• Value, Means of

• Exchange, legal

• Tender

Reasons for planning expenditure.

to remain ​ (a)   ,​ to ​ (b)   debt, bankruptcy and ​ (c)   . To maintain a good ​ (d)  

• solvent
• avoid
• remain
• credit rating
• repossession
• liquidity