Statement of Financial Position (Edexcel A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does a statement of financial position show at a specific moment in time?
What does a statement of financial position show at a specific moment in time?
Assets, liabilities & shareholders' equity
What is the fundamental accounting equation that must always balance?
What is the fundamental accounting equation that must always balance?
Assets = Capital + Liabilities
How are current assets defined?
How are current assets defined?
Liquid resources converted to cash in 12mo
What timeframe defines non-current liabilities?
What timeframe defines non-current liabilities?
Long-term debts over 12 months
What does goodwill represent on a statement of financial position?
What does goodwill represent on a statement of financial position?
Business value above net assets
Which of these are examples of intangible assets?
Which of these are examples of intangible assets?
Trademarks & patents
In what order are current assets listed on the statement?
In what order are current assets listed on the statement?
Liquidity: inventories to cash
How is net assets calculated?
How is net assets calculated?
Assets - Liabilities
What does retained profit shown in equity actually represent?
What does retained profit shown in equity actually represent?
Profit owed to shareholders (not cash)
What three components make up total shareholders' equity?
What three components make up total shareholders' equity?
Share capital, reserves & retained profit