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Questions and Answers
What is the primary source of funding that is not guaranteed to be repaid?
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?
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?
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?
What is the formula for calculating shareholders' funds?
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What is the primary purpose of accruals?
What is the primary purpose of accruals?
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