Refresh or test your knowledge or understanding on final accounts by answering the following questions:
| 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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