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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a Balance Sheet?
💡 Hint: Think about the purpose of summarizing financial health.
Question 2
Easy
Name two types of assets listed in a Balance Sheet.
💡 Hint: One type supports long-term operations, the other for short-term use.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does a Balance Sheet represent?
- Current income
- Financial position
- Future projections
💡 Hint: It’s all about a snapshot.
Question 2
True or False: Current assets are meant to be used or converted into cash within a year.
- True
- False
💡 Hint: Consider the time frame for assets.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A non-profit organisation has total assets worth $120,000, including $80,000 in fixed assets and $40,000 in current assets. If their total liabilities are $60,000, what is their capital fund?
💡 Hint: Use the basic accounting equation to identify the capital fund.
Question 2
If a non-trading organisation lists $10,000 in receivables but also has $5,000 in payables, what does this imply about their liquidity?
💡 Hint: Think about how quickly they can access cash.
Challenge and get performance evaluation