5 Questions
Which one of the following is an accurate definition of a Balance Sheet?
A statement of the financial position of a business at a given moment in time
Which one of the following is NOT a main grouping/heading in a Balance Sheet?
Non-Current Liabilities
Which one of the following is an accurate definition of assets?
Present economic resources controlled by the entity as a result of past events
Which one of the following is an example of a non-current asset?
Property, Plant, and Equipment
Which one of the following is an example of a current asset?
Prepaid Expenses
Test your knowledge of the statement of financial position with this quiz. Learn key ratios and understand how to analyze a balance sheet.
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