WorksheetsRefresh Accounting
Total questions: 10
Worksheet time: 8mins
Which of the following items would not fall under the definition of an asset?
Machinery
Account Receivable
Owner's Equity
Prepaid Expense
Land
Which one of the following items would fall under the definition of liability?
Cash
Account Receivable
Owner's Equity
Tax Owed
None of the above
A business has the following items in it:
Land $ 1000.000
Machinery $ 20.000
Cash $ 10.000
Debt $ 0
Owner's Equity?
$ 1.000.000
$ 1.020.000
$ 1.010.000
$ 1.030.000
None of the above
A business has the following items in it:
Land $ 1.000.000
Machinery $ 20.000
Cash $ 10.000
Loan $ 500.000
Owner's Equity ?
$ 500.000
$ 1.000.000
$ 530.000
$ 1.030.000
None of the above
A business has the following items in it:
Owner's Equity $ 600.000
Total Liabilities $ 1.400.000
Assets?
$ 600.000
$ 1.400.000
$ 800.000
$ 2.000.000
None of the above
A business has the following items in it:
Land $ 1.500.000
Machinery $ 80.000
Cash $ 20.000
Owner's Equity $ 900.000
Loan $ 500.000
Account Payable?
$ 200.000
$ 700.000
$ 800.000
$ 1.100.000
$ 400.000
A business has the following items in it:
Land ?
Vehicles $ 600.000
Machinery $ 120.000
Cash $ 30.000
Owner's Equity $ 1.000.000
Loan $ 500.000
Account Payable $ 50.000
$ 1.000.000
$ 1.550.000
$ 800.000
$ 750.000
$ 700.000
Which of the following statement is best statement?
A business whose liabilities greater that it's assets has a bad financial situation
A business whose owner's equity greater that it's liability has a bad financial situation
A business whose assets greater that it's liability has a bad financial situation
None of the above
These are part of cash outflows from operating activities, except...
Cash Sales
Income Tax Paid
Cash Purchase
Cash Operating Expenses
Payment to Trade Payables
If expenditure is $ 20,000 and surplus credited to capital fund $ 2,050, income is...
$ 22.050
$ 17.950
$ 18.950
$ 16.950
$ 20.000
