Balance Sheet (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is another name for a balance sheet?
What is another name for a balance sheet?
Statement of financial position
How long are fixed assets typically kept and used by a business?
How long are fixed assets typically kept and used by a business?
More than one year
How long are current assets generally held for?
How long are current assets generally held for?
Less than one year
Within what timeframe must current liabilities be paid?
Within what timeframe must current liabilities be paid?
Within one year
What is the formula for working capital?
What is the formula for working capital?
Current Assets - Current Liabilities
How is total net assets calculated?
How is total net assets calculated?
Fixed Assets + Working Capital
What is the formula for capital employed?
What is the formula for capital employed?
Long-term Liabilities + Equity Capital
What is authorised share capital?
What is authorised share capital?
Maximum amount a company can issue
Why is knowing the value of fixed assets beneficial for a business?
Why is knowing the value of fixed assets beneficial for a business?
They can serve as security for loans
What must total net assets equal on a balance sheet?
What must total net assets equal on a balance sheet?
Capital employed