Quick Fire [assets, Liabilities, Expenses, Equity, Income] Ncea Lvl 1 Accounting
![Quick Fire [assets, Liabilities, Expenses, Equity, Income] Ncea Lvl 1 Accounting - Quiz](https://media.proprofs.com/images/QM/user_images/1826446/1625731514.jpg "Quick Fire [assets, Liabilities, Expenses, Equity, Income] Ncea Lvl 1 Accounting - Quiz")
Statement of Financial Position / Balance Sheet Sonny Bill Williams LTD - For the Year Ended 31 March 31/03/Infinity [we hope] Is Sonny Bill Williams an Asset or a Liability? Mmmm
- 1.Accounts Receivable
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 2.Accounts Payable
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 3.Goodwill
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Intangible Asset
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 4.Opening Capital
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Intangible Asset
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 5.Profit for the Year
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Intangible Asset
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 6.Inventory
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Intangible Asset
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 7.Bank Overdraft
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Intangible Asset
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 8.Petty Cash
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Intangible Asset
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 9.Bank
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Investments
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 10.Loan (12% per annum due 15/03/2040)
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Investments
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 11.Drawings
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Investments
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 12.Prepayments
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Investments
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 13.Accrued Expense
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Investments
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 14.Total Carrying Amount
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Property, Plant and Equipment
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
- 15.Shares in BroSir LTD
- A.
Current Asset
- B.
Negative Income
- C.
Negative Asset
- D.
Non-Current Liability
- E.
Non Current Asset - > Investments
- F.
Negative Equity
- G.
Income
- H.
Equity
- I.
Current Liability
- J.
Expense
Questions: 41 | Attempts: 84481 | Last updated: Mar 22, 2022
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Sample QuestionUnder the accrual method of accounting, expenses are recorded:
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