POA Quick Quiz

In which of the following are a sole trader's profits and losses recorded

• Income Statement

• Balance Sheet

• Cashflow

• Income and Expenditure Account

Kaleb' Capital Amount is?

• $75,000

• $80,500

• $81,000

• $86,000

It is the end of Tiffany's financial year. She had total assets of $5,000 and capital of $3,600. How much were her liabilites?

• $1,400

• $3,600

• $5,000

• $8,600

Under which of the following would Cash be classified in a Balance Sheet?

• Current Liabilities

• Current Assets

• Non Current Assets

• Non Current Liabilites

Which of the following would be entered in the Liabilities section of the Balance Sheet?

• Capital, Accounts Payable, Cash

• Cash, Cash at Bank, Accounts Payable

• Accounts Payable, Bank Overdraft, Loan

• Capital , Cash, Accounts Payable

Mortgage and a five-year bank loan are classified in the Balance sheet as:

• Current Assets

• Non current Liabilities

• Non Current Assets

• Current Liabilities

What some of money is represented by I?

• $16,000

• $4,000

• $2,000

• $11,000

How would the purchase of buildings on credit affect a Firm's Balance Sheet?

• Assets decrease, Liabilities decrease

• Assets decrease, Liabilities increase

• Assets increase, Liabilities increase

• Assets increase, Liabilities decrease