WorksheetsUnderstanding Financial Statements
Total questions: 7
Worksheet time: 3mins
Which of the following is most likely to be a non-current asset?
Tax refundable
Plant and Equipment
Cash and Cash Equivalents
Share Capital
What is the correct balance sheet formula?
Assets = Liabilities x Equity
Assets = Liabilities - Equity
Assets + Liabilities = Equity
Assets = Liabilities + Equity
Which of the following is not one of the key financial statements?
Balance Sheet
Income Statement
Director's Statement
Cash Flow Statement
Which of the following is NOT an asset?
Trade Payables
Trade Receivables
Plant and Equipment
Cash and Cash Equivalents
Which of the following is a liability?
Accrued Revenue
Retained Earnings
Bank Borrowings
Investment in Subsidiaries
In which example below would the income NOT be considered revenue?
A delivery company sells a van from its fleet for S$30,000
A second-hand car dealer sells a van for S$50,000
A petrol company sells 40 litres of petrol for S$80
An electronics store sells a laptop for $2,000
Which of these transactions would generate operating cash flows?
A delivery company sells one of its delivery vehicles
A construction company obtains a bank loan
A car dealer sells its office car
A furniture store sells a table
