Biomedical Engineering Management: Cost Control & Corporate Accounts
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Questions and Answers

What is the primary source of funding that is not guaranteed to be repaid?

  • Technical reserves
  • Share capital (correct)
  • Creditors
  • Retained profit

    • What type of liabilities eventually become current liabilities?

  • All long-term liabilities (correct)
  • Only long-term liabilities
  • Accruals and taxation
  • Only short-term liabilities

    • What is the purpose of technical reserves?

  • To record dividends paid to shareholders
  • To record taxation owed
  • To record profits from the sale of assets
  • To record profits from the revaluation of assets (correct)

    • What is the formula for calculating shareholders' funds?

    <p>Assets - Liabilities</p> Signup and view all the answers

    What is the primary purpose of accruals?

    <p>To record periodic bills</p> Signup and view all the answers

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