A non-current asset is an item owed by the business for a period of more than a year.
N5 Accounting SoFP

Quiz
•
Business
•
10th Grade
•
Medium

Chantelle Scott
Used 11+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True
False
2.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are examples of non-current assets?
Property
Fixtures and Fittings
Cash
Machinery
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A current asset is an item owned by the business for a period of less than a year.
True
False
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following is NOT an example of a current asset?
Cash
Equipment
Inventory
Trade Receivables
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Motor vehicles are an example of a non-current asset.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A current liability is...
An item owned by the business for a period of more than a year
An item owed by the business for a period of more than a year
An item owed by the business for a period of less than a year
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A bank overdraft is an example of a current liability.
True
False
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