Accounting Quiz or Test Your Knowledge On Final Accounts

July 21st, 2010 Comments off
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Refresh or test your knowledge or understanding on final accounts by answering the following questions:


1.0  What are the component parts of the item “proprietor’s capital” in a balance sheet?

2.0  Give two examples of long-term liabilities

—–>> refer article

3.0  What are the main items of current assets in a balance sheet?

—–>> refer article

4.0  What is the “working capital of a business & why is working capital management so important in a business

—->> refer article

5.0  What is the distinction between capital expenditure and revenue expenditure?

——>> refer article

6.0  Describe two items which appear in both the balance sheet and the income statement


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