Day 2 - Accounting Basics - Part 2

Which of the following falls under Current Asset?

• Payable

• Buildings

• Receivable

• Revenue

Which of the following is a liability?

• Inventory

• Accounts Payable

• Equipment

• Retained Earnings

Which financial statement reports a company's revenues and expenses over a period of time?

• Balance Sheet

• Income Statement

• Cash Flow Statement

• Statement of Retained Earnings

Which of following is not an Asset

• Buildings

• Cash

• Receivable

• Staff Cost

Which financial statement shows the financial position of a company at a specific point in time?

• Income Statement

• Balance Sheet

• Cash Flow Statement

• Statement of Cash Flows