Within which financial document would you find CURRENT LIABILITIES? Options: Cash budget, Cash flow, Statement of Financial Position, Income Statement
Higher Business Management Finance

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Business
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5th - 6th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Statement of Financial Position
2.
FLASHCARD QUESTION
Front
Which financial statement would list both GROSS PROFIT and PROFIT FOR THE YEAR?
Back
Income statement
3.
FLASHCARD QUESTION
Front
Items owned by a business such as property or machinery which are unlikely to change or be sold in the next 12 months.
Back
Non-current assets
4.
FLASHCARD QUESTION
Front
NON-CURRENT LIABILITIES are...
Back
Long term debts that a business owes
5.
FLASHCARD QUESTION
Front
Money owed by a business to its creditors is called "Trade ___________"
Back
receivables
6.
FLASHCARD QUESTION
Front
This RATIO tells us how able a business is to pay its short-term debts.
Back
Current ratio
7.
FLASHCARD QUESTION
Front
High rate of inventory turnover would tell us that...
Back
Products are selling quickly and are not stored for long
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