题目

BACC011 Week 2: Practice Quiz

匹配题

Which financial statement will the following items be shown on? 1: Cost of sales 2: Furniture 3: Share equity 4: Sales revenue 5: Unearned revenue 6: Retained earnings 7: Bank loan 8: Salary payable 9: Salary expense 10: Prepaid insurance 11: Insurance expense

选项

A.Profit and loss statement.

B.Balance sheet/Statement of financial position.

查看解析

标准答案

Please login to view

思路分析

We’re examining where each item would appear in financial statements and choosing between the two options provided: Profit and loss statement or Balance sheet/Statement of financial position. 1) Cost of sales: This is a cost tied directly to generating revenue, typically recorded as an expense on the income statement. Therefore, it belongs on the Profit and loss statement. 2) Furniture: Furniture is a long-term asset used in operations. It is not expensed immediately but depreciated over time......Login to view full explanation

登录即可查看完整答案

我们收录了全球超50000道考试原题与详细解析,现在登录,立即获得答案。

类似问题

What is the date on the front of an annual financial statement?

The Posting Journal is a Financial Statement.

At month-end, you can select to print which of the following financial statements as required by your company's accountant. Select the best answer.

This question is a repeat of what you have learnt in week 2. Check your memory to see if you remember which statement each item belongs to. This is fundamental accounting basics! Hopefully, your knowledge and understanding has grown since you did this question in week 2 :) Which financial statement will the following items be shown on? To find the solution: Identify what group each item belongs to: is the item an asset, liability, equity, revenue or expense? Once you know which group it belongs to, you can then select the statement it will be included on: Assets, liabilities and equity --> Balance sheet. Revenue and expenses --> Profit and loss statement. 1: Cost of sales 2: Furniture 3: Share capital 4: Sales revenue 5: Unearned revenue 6: Retained earnings, closing balance 7: Bank loan 8: Salary payable 9: Salary expense 10: Prepaid insurance 11: Insurance expense

更多留学生实用工具

希望你的学习变得更简单

加入我们，立即解锁海量真题与独家解析，让复习快人一步！