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IGCSE Financial Statements

Authored by Michael Frayne

Business

10th Grade

Used 17+ times

IGCSE Financial Statements
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50 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the:

Statement of Financial Position

Income Statement

Trial Balance

General Ledger

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Something the business owns is:

accounts

assets

drawings

expense

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Amount owed by a business:

liabilities

assets

capital

drawings

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A house mortgage balance is an example of

Non-current asset

Current asset

Non-current liabilities

Current liabilities

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Choose examples of current assets

Debtors

Cash

Inventory

Stock

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Cash at bank is an example of a

Current asset

Non-current asset

Owner's Equity

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

______________ are short-term debts. The money owed must be paid back within one year.

Current Liabilities

Non-current Liabilities

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