
Self-test on Assets and Liabilities

Quiz
•
Financial Education
•
12th Grade
•
Hard
Phạm Anh
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an asset?
A trade payable
A loan
Drawings
A prepayment
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a liability?
Depreciation
An accrual
Cash at bank
Plant and machinery.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Capital is the amount:
The entity's owners owe to it
The entity's customers owe to it
The entity owes to its creditors
The entity 'owes' to its owners
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which of the following are assets of an entity?
Trade payables
Trade receivables
Bank overdraft
Cash in hand
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes the accruals concept?
Assets are matched with liabilities
Revenue is matched with expenses
Expenses are matched with assets
Income is matched with liabilities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a non-current liability?
A bank overdraft
A bank loan repayable within a year
A mortgage repayable in five years' time
A trade payable
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The statement of financial position sets out the entity's:
Financial position over a period of time
Financial performance over a period of time
Financial position at one point in time
Financial performance at one point in time
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