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Worksheetsbusiness mid year quiz
Total questions: 50
Worksheet time: 1hrs 4mins
what are assets? (mem)
assets are what business owes to to parties outside the business
assets are what business owns
asset Is the amount invested but the owner in the business
asset is what the business owes to the owner
what are assets? (no period, but full sentence)
(a)
what is a non-current asset? (mem)
assets which can be easily converted to cash or used within 1 year
assets bought for use in the business for more than 1 year
what is a non-current asset?
what is current asset? (mem)
assets bought for use in the business for more than 1 year
assets which can be easily converted to cash or used with 1 year
what are current assets?
what are liabilities? (mem)
they are what business owns
they are what business owes to parties(people) outside the business
the amount invested by the owner in the business
what the business owes to the owner
what is Owner's Equity/Capital? (mem)
they are what business owns
they are what business owes to parties(people) outside the business
the amount invested by the owner in the business
what the business owes to the owner
what are liabilities?
What are non-current liabilities
debts which business takes more than one year to repay back
debts which business has to repay back within one year
what are non-current liabilities
What are current liabilities
debts which business takes more than one year to repay back
debts which business has to repay back within one year
what are current liabilities
explain what is capital
land and building is a (pls follow the choosing answers exactly)
(a)
trade payables is a/an
(a)
sales is a/an
(a)
inventory is a/an
(a)
rent is a/an
(a)
rent received is a/an
(a)
advertising is a/an
(a)
trade receivable is a/an
(a)
loan is a/an
(a)
electricity is a/an
(a)
furniture is a/an
(a)
wages or salaries is a/an
(a)
purchases is a/an
(a)
discount received is a/an
(a)
cash in hand is a/an
(a)
bank overdraft is a/an
(a)
premises is a/an
(a)
insurance is a/an
(a)
comission allowed is a/an
(a)
mortgage is a/an
(a)
motor vehicle is a/an
(a)
stationery is a/an
(a)
bank charges is a/an
(a)
repairs and maintenance is a/an
(a)
lighting and heating is a/an
(a)
interest received is a/an
(a)
general and office expenses is a/an
(a)
which of the following is correct?
assets + liabilities = capital
assets + capital = liabilities
capital + liabilities = assets
capital - liabilities= assets
what this the accounting equation
assets less liabilities equals capital
assets plus liabilities equals capital
capital less liabilities equals assets
capital plus assets equals liabilities
Javed had the following assets and liabilities. What's his capital?
$20 000
$24 000
$26 000
$30 000
Assets = Owner's Equity + _
(a)
What's a petty cash book?
a book which is used to record your daily life
a book which is used to record large expenses incurred
a book which is used to record small (petty) expenses insurred
astatement showing the financial position of business at a particular date
What's a petty cash book?
What's a financial statement?
a book which is used to record your daily life
a book which is used to record large expenses incurred
a book which is used to record small (petty) expenses insurred
a statement showing the financial position of business at a particular date
what is a financial statement
memorise the format of a petty cash book and a financial statement!! how's dis quiz gais
