The following Balance Sheet MCQs have been compiled by our experts through research, in order to test your knowledge of the subject of Balance Sheet. We encourage you to answer these multiple-choice questions to assess your proficiency.
Please continue by scrolling down.
A. True
B. False
A. True
B. False
A. L = A + SE
B. A = L + SE
C. A = L - SE
D. SE = A + L
A. Current Assets
B. Long-term Liabilities
C. Current Liabilities
A. Assets = Liabilities + Equity
B. Liabilities = Assets - Equity
C. Equity = Liabilities - Assets
D. Non-current assets + Current assets = Total liabilities + Equity
E. Non-current assets + Net current assets = Non-current liabilities + Equity
A. Report the assets and claims of an enterprise at a specified moment in time
B. Show the financial status of an enterprise
C. Present revenues and expenses of an enterprise
D. Have two counterbalancing sections
A. Trade payables
B. Share capital
C. Retained earnings
D. Investments in associates
E. Bank loan
A. Period Of Time
B. Point In Time
A. Accounts Payable
B. Prepaid Insurance
C. Unearned Revenue
A. Debit
B. Credit
A. Debit
B. Credit
A. Debit
B. Credit
A. Accounts Receivable (asset)
B. Prepaid Services (asset)
C. Service Revenues (revenue)
D. Unearned Revenues (liability)