WorksheetsSOCI & SOFP
Total questions: 25
Worksheet time: 13mins
Which one of the following is a current asset?
Mortgage
Stock
Trade creditors
Sales revenue
Which one of the following is a current asset?
Gross profit
Retained earnings
Trade creditors
Trade debtors
Which one of the following is a non current asset?
Badwill
Goodwill
Cashwill
Sharewill
Which one of the following is a non current asset?
Stock
Cash
Machinery
Dividends payable
A non current asset may also be referred to as a ???
fixed asset
sealed asset
floated asset
current liability
A statement of comprehensive income is also known as what??
Balance sheet
Break even analysis
Cash flow forecast
Profit & loss account
A statement of financial position is also known as what ???
Current ratio
Balance sheet
Cash flow forecast
Profit & loss account
Which one of the following is an example of a non current asset ???
Tax payable
Inventories
Vehicle
Trade payables
Profit kept in the business and not paid out as dividends to shareholders = ???
Retained assets
Retained liabilities
Retained earnings
Retained balance
Goodwill is an ____ asset.
income
introverted
invisible
intangible
Cash at bank and in hand is a ???
Non current asset
Current asset
Current liability
Dividend
The amount of money invested into the business by shareholders in exchange for shares = ???
Share capital
Other reserves
Share continent
Share pool
Example of a non current liability = ???
Trade payables
Bank overdraft
Bank loan
Trade receivables
Trade receivables are also known as what ???
Trade supplier
Trade debtors
Trade creditors
Trade income
Trade payables is also known as what ???
Trade debtor
Trade interest
Trade creditor
Trade supplier
Gross profit formula = ???
Sales revenue / Cost of sales x 100
Sales revenue - Cost of sales - Other expenses
Sales revenue x Cost of sales
Sales revenue - Cost of sales
Money received from selling good/services to customers = ???
Cost of sales
Revenue
Interest received
Share capital
Cost of sales include ???
Current assets
Non current liabilities
Dividends
Raw materials
Document that shows assets, liabilities and capital of a business = ???
Break even analysis
Statement of comprehensive income
Statement of profit and loss
Statement of financial position
Document which outlines the revenue and expenses of a business = ???
Statement of comprehensive income
Cash flow forecast
Statement of financial position
Balance sheet
Interest payable is an example of what ???
Operating profit
Cost of sales
Finance costs
Current asset
____ are the debts of a business.
Dividends
Liabilities
Assets
Share capital
Which one of the following is not a type of profit shown on a SOCI??
Operating profit
Gross profit
Retained profit
Net profit
Stock is also known as ???
Antiquities
Provisions
Inventories
Equivalents
Financial accounts are submitted to who ???
MENSA
UNICEF
GDPR
HMRC
