The Main Elements Of A Statement Of Financial Position:
Bayani Gaba-gaba
If you could take a photograph of everything a business owns and owes on one day, you would have a statement of financial position. It is one of the two main financial statements, and it shows what a firm is worth and how it has been financed.
This lesson explains the main classifications of assets and liabilities, with examples, and how they fit together. By the end you will be able to identify and classify the items that appear on a statement of financial position.
Manufura
- The main classifications of assets and liabilities, using examples
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Barka da kammala darasi akan The Main Elements Of A Statement Of Financial Position:. Yanzu da kuka bincika mahimman raayoyi da raayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.
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- Which is a current asset? A. buildings B. machinery C. inventories D. a 5-year loan Answer: C
- Which is a non-current (fixed) asset? A. cash B. trade receivables C. delivery vehicles D. inventories Answer: C
- A bank overdraft is classified as a: A. non-current asset B. current asset C. current liability D. non-current liability Answer: C
- Owners' equity equals: A. total assets plus total liabilities B. total assets minus total liabilities C. current assets only D. total liabilities only Answer: B
- A long-term bank loan is a: A. current asset B. non-current asset C. current liability D. non-current liability Answer: D
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Ƙarin koyo daga tushe na buɗe
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Sashen littafi
The Balance Sheet
In what terms does the balance sheet describe the financial condition of an organization?
"Introduction to Business: The Balance Sheet" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/introduction-business/pages/14-4-the-balance-sheet. Access for free at https://openstax.org/books/introduction-business/pages/1-introduction
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