Financial statements

Which financial document records the inflow and outflow of cash each month?

• Balance sheet

• Profit & Loss account

• Cash flow statement

• Bank statement

What is being described?

"Money coming in through revenue or other investment"

• Share issue

• Cash inflow

• Net cash flow

• Cash Outflow

Net cash flow is calculated by...

• Inflow - Outflow

• Inflow + Outflow

• Inflow x Outflow

• Inflow / Outflow

What is being described?

"Items which a business owns which can be quickly sold and turned into cash"

• Current liabilities

• Tangible assets

• Current assets

• Intangible assets

A business is selling its old office furniture and computers to raise funds for the new equipment.
These are...

• Tangible assets

• Intangible assets

• Intangible liabilities

• Tangible goods

Elon Musk is selling his patented electric car battery design.

This is an example of an...

• Current liability

• Intangible asset

• Cash inflow

• Fixed asset

A business is considering selling some land which is rarely used. Whilst it is valuable, demand for the land is low at the moment.

This is an example of a...

• Fixed liability

• Intangible asset

• Variable asset

• Fixed asset

What is being described?

"A sum of money that is owed by a business to another business".

• Liquidation

• Fixed asset

• Liability

• Cash outflow

An entrepreneur has been granted a 20 year mortgage to buy a high street property valued at £2.5 million.

This would be an example of...

• Current liability

• Non-current liability

• Intangible asset

• Internal source of finance

A business has received a £1.2 million tax bill which is due to be paid by the end of April.

This is an example of...

• Non-current liability

• Fixed asset

• Current liability

• Current asset