
Understanding Financial Position Statements
Authored by Christian Obe
Business
12th Grade

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a non-current asset on a statement of financial position?
Inventory
Trade receivables
Property, plant, and equipment
Cash and cash equivalents
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary difference between current and non-current liabilities?
Current liabilities are due within one year, while non-current liabilities are due after one year.
Current liabilities are larger in amount than non-current liabilities.
Non-current liabilities are always interest-bearing, while current liabilities are not.
Current liabilities are always secured, while non-current liabilities are unsecured.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is equity calculated in a statement of financial position?
Total assets minus total liabilities
Total liabilities minus total assets
Current assets minus current liabilities
Non-current assets minus non-current liabilities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial ratio is used to assess a company's liquidity?
Debt to equity ratio
Current ratio
Return on equity
Price to earnings ratio
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the impact of depreciation on the statement of financial position?
It increases the value of non-current assets.
It decreases the value of non-current assets.
It has no impact on the statement of financial position.
It increases the value of current liabilities.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a consequence of poor cash flow management?
Increased profitability
Improved credit rating
Inability to meet short-term obligations
Higher equity value
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the quick ratio measure?
The ability to pay off all liabilities with all assets
The ability to pay off current liabilities with current assets excluding inventory
The profitability of a company
The efficiency of asset utilisation
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