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Quiz - Financial Statement

The document is a quiz focused on financial statements, covering topics such as the financial position, cash flow activities, and the impact of loan receipts on revenue and assets. It includes multiple-choice questions where respondents must select the correct statements regarding financial concepts. Additionally, it addresses the classification of current and noncurrent items in financial positions.

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Vinetha Pcn
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3 views6 pages

Quiz - Financial Statement

The document is a quiz focused on financial statements, covering topics such as the financial position, cash flow activities, and the impact of loan receipts on revenue and assets. It includes multiple-choice questions where respondents must select the correct statements regarding financial concepts. Additionally, it addresses the classification of current and noncurrent items in financial positions.

Uploaded by

Vinetha Pcn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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4/5/25, 8:59 AM Quiz

Quiz
FINANCIAL STATEMENT

1. which one of the following statement about the financial position is correct? 2 points

Mark only one oval.

Financial position shows cash inflow and outflow

Financial sheet shows the liquidity of the business

Financial position shows income

financial statement shows all earning and related expenditure.

2. Which one of the following activities is indicating activity in a cash flow statement? 0 points

Mark only one oval.

Owner investment by cash.

Sale of products in cash

Paying salary to employees

Purchase of electricity on credit

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4/5/25, 8:59 AM Quiz

3. Which one of the following statement indicates the effect of Receipts of a loan on Revenue and Assets? 2 points

Mark only one oval.

Revenue: Decrease - Asset: Increase

Revenue : Increase -Asset: Decrease

Revenue : Increase - Asset: No changes

Revenue: No changes - Asset : Increase

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4/5/25, 8:59 AM Quiz

4. Based on the information available, Total Equity? 0 points

Mark only one oval.

Option 1

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4/5/25, 8:59 AM Quiz

5. For each f the following items, identity whether the item is considered current or noncurrent item in Financial 2 points
Position. Note that current items can be current assets or current liabilities. similarly, noncurrent item can be
noncurrent asset (such as fixed asset, intangible asset) or noncurrent liabilities or equity.

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4/5/25, 8:59 AM Quiz

6.
Mark only one oval.

Option 1

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