Which of the following is a common expense for a sole trader?

Grade 7 Quiz Competition 2024 Q. 16 - 20

Quiz
•
Business
•
6th - 8th Grade
•
Hard
Musthafa Tachaparamben
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Dividend payments
Salaries of employees
Interest income
Depreciation of personal assets
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How often should a sole trader prepare their financial statements?
Once a year
Monthly
Quarterly
All of the above, depending on needs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial statement shows the financial position of a sole trader at a specific point in time?
Profit and Loss Statement
Cash Flow Statement
Balance Sheet
Income Statement
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a balance sheet?
A statement showing cash flow for the year
A financial statement that shows assets, liabilities, and equity
A document for tax reporting
A list of company's expenses for the year
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is considered a liability on the balance sheet?
Inventory
Accounts receivable
Accounts payable
Revenue
Similar Resources on Wayground
10 questions
Accounting Terms

Quiz
•
7th Grade
10 questions
Methods of production

Quiz
•
7th Grade
7 questions
S3 Types of Business Organisations

Quiz
•
8th Grade
9 questions
Sole proprietorship 0001

Quiz
•
7th Grade
10 questions
accounting basics

Quiz
•
1st - 10th Grade
10 questions
Business Concepts Quiz

Quiz
•
8th Grade
10 questions
Firms

Quiz
•
8th Grade - University
10 questions
Understanding Business Revision

Quiz
•
8th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade