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WorksheetsA2 - Ch 7 - 7.2 Balance sheet
Total questions: 10
Worksheet time: 5mins
Which one of the following is a current asset?
inventory
land
machinery
share capital
Which of the following is a current liability?
cash
long-term loan
payable
receivable
Which one of the following is a non-current asset?
bank overdraft
cash
inventory
machinery
What are items that are owned by an organisation?
Assets
Liabilities
Equity
Loans
Fill in the blank. Non-current assets tend to be owned by an organisation for a period of ______ than one year
more
less
none of the answers
Fill in the blank. _________ assets are non-current assets that do not have a physical presence but have a value to the firm.
Tangible
Intangible
Inventory
Cash
What are the items that arise from increases in value of the company, which are not distributed to shareholders as dividends, but are retained by the business for future use?
Loans
Reserves and retained earnings
Working capital
Share capital
What are debts scheduled for repayment within a year?
Current liabilities
Non-current liabilities
Debentures
Mortgages
Select all of the types of goodwill
Copyrights
Patents
Brand names
Inventory
What is the balance sheet equation?
Assets + Liabilities = Equity
Assets = Liabilities + Equity
Assets = Liabilities - Equity
Liabilities - Assets = Equity
