WorksheetsClassification of Accounts for Financial Statements
Total questions: 32
Worksheet time: 11mins
Name
Class
Date
1.
What is Stationery expense classified in the financial statements as
a)
Admin Expense
b)
Non-Current Asset - Investments
c)
Selling and Distribution Expense
d)
Finance Expense
2.
What is Shares classified in the financial statements as
a)
Non-Current Asset - Investments
b)
Admin Expense
c)
Finance Expense
d)
Non-Current Asset - PPE
3.
What is Sales Salaries classified in the financial statements as
a)
Selling and Distribution Expense
b)
Admin Expense
c)
Finance Expense
d)
Current Liability
4.
What is Rent received classified in the financial statements as
a)
Other Revenue
b)
Admin Expense
c)
Finance Expense
d)
Current Liability
5.
What is Council Rates classified in the financial statements as
a)
Admin Expense
b)
Finance Expense
c)
Selling and Distribution Expense
d)
Current Liability
6.
What is Pre-Paid Expense classified in the financial statements as
a)
Current Asset
b)
Admin Expense
c)
Current Liability
d)
Non-Current Asset - PPE
7.
What is Office Wages classified in the financial statements as
a)
Admin Expense
b)
Finance Expense
c)
Selling and Distribution Expense
d)
Non-Current Liability
8.
What is Loan classified in the financial statements as
a)
Non-Current Liability
b)
Finance Expense
c)
Current Liability
d)
Non-Current Asset - PPE
9.
What is Inventories classified in the financial statements as
a)
Current Asset
b)
Non-Current Liability
c)
Current Liability
d)
Admin Expense
10.
What is Interest Received classified in the financial statements as
a)
Other Revenue
b)
Finance Expense
c)
Current Liability
d)
Admin Expense
11.
What is Interest on Loan classified in the financial statements as
a)
Finance Expense
b)
Admin Expense
c)
Selling and Distribution Expense
d)
Currrent Asset
12.
What is GST Payable classified in the financial statements as
a)
Current Liability
b)
Non-Current Liability
c)
Current Asset
d)
Admin Expense
13.
What is Electricity classified in the financial statements as
a)
Admin Expense
b)
Finance Expense
c)
Selling and Distribution Expense
d)
Non-Current Liability
14.
What is Drawings classified in the financial statements as
a)
Owners Equity
b)
Current Liability
c)
Non-Current Liability
d)
Non-Current Asset - PPE
15.
What is Depreciation on Delivery Van classified in the financial statements as
a)
Selling and Distribution Expense
b)
Admin Expense
c)
Non-Current Liability
d)
Non-Current Asset - PPE
16.
What is Delivery Vehicle classified in the financial statements as
a)
Non-Current Asset - PPE
b)
Admin Expense
c)
Non-Current Asset - Investments
d)
Current Liability
17.
What is Delivery Van expenses classified in the financial statements as
a)
Selling and Distribution Expense
b)
Admin Expense
c)
Finance Expense
d)
Non-Current Asset - PPE
18.
What is Cost of Good Sold classified in the financial statements as
a)
Cost of Sales
b)
Admin Expense
c)
Selling and Distribution Expense
d)
Finance Expense
19.
What is Commission Revenue classified in the financial statements as
a)
Other Revenue
b)
Admin Expense
c)
Selling and Distribution Expense
d)
Finance Expense
20.
What is Cash at Bank classified in the financial statements as
a)
Currrent Asset
b)
Non-Current Asset - PPE
c)
Current Liability
d)
Non-Current Liability
21.
What is Capital classified in the financial statements as
a)
Owners Equity
b)
Non-Current Asset - PPE
c)
Current Liability
d)
Non-Current Liability
22.
What is Bank Charges classified in the financial statements as
a)
Finance Expense
b)
Admin Expense
c)
Selling and Distribution Expense
d)
Current Liability
23.
What is Bad Debts classified in the financial statements as
a)
Finance Expense
b)
Admin Expense
c)
Selling and Distribution Expense
d)
Current Liability
24.
What is Advertising classified in the financial statements as
a)
Selling and Distribution Expense
b)
Admin Expense
c)
Current Liability
d)
Non-Current Liability
25.
What is Accumulated Depreciation on Delivery Vehicle classified in the financial statements as
a)
Non-Current Asset - PPE
b)
Current Liability
c)
Non-Current Liability
d)
Current Asset
26.
What is Accured Revenue classified in the financial statements as
a)
Current Asset
b)
Non-Current Asset - PPE
c)
Selling and Distribution Expense
d)
Current Liability
27.
What is Accrued Expense classified in the financial statements as
a)
Current Liability
b)
Non-Current Liability
c)
Non Current Asset - PPE
d)
Finance Expense
28.
What is Accounts Receivable classified in the financial statements as
a)
Current Asset
b)
Non-Current Liability
c)
Non Current Asset - PPE
d)
Current Liability
29.
What is Accounts Payable classified in the financial statements as
a)
Current Liability
b)
Non-Current Liability
c)
Finance Expense
d)
Admin Expense
30.
What is Goodwill classified in the financial statements as
a)
Non-Current Asset - Intangible
b)
Current Liability
c)
Admin Expense
d)
Finance Expense
31.
What is Rent Expense classified in the financial statements as
a)
Admin Expense
b)
Finance Expense
c)
Selling and Distribution Expense
d)
Non-Current Liability
32.
What is Mortgage classified in the financial statements as
a)
Non-Current Liability
b)
Finance Expense
c)
Current Liability
d)
Non-Current Asset - PPE
100 %
