Business Quiz

A statement of comprehensive income :

• has 'as at' in the title

• is a profit and loss account

• is a balance sheet

• shows assets and liabilities

gross profit =

(a)  

missing word =

• financing costs

• expenses

• net profit

• current assets

• gross profit 27,000

• gross profit 21,000

• net profit for the year 27,000

• net profit for the year 21,000

An increase in the price of raw materials would directly affect :

• expenses

• revenue

• cost of sales

• 24,000 / 56,000

• 56,000 / 24,000

• 24,000 / 12,000 x 100

• 24,000 / 56,000 x 100

A statement of financial position is called :

• a balance sheet

• a cashflow forecast

• a profit and loss account

• an asset list

• 52

• 13

• 97

• 45

Receivables (or trade receivables) =

• customers the business owes money to

• suppliers the business owes money to

• customers who owe the business money

• suppliers invoices

• 200 / 90

• 35 / 65

• 65 / 90

• 65 / 35