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Quiz: Balance Sheet - Purpose and Layout
WJEC Eduqas GCE A LEVEL in BUSINESS specification
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Building on what you've learned about managing finances and analysing outcomes, let's test your understanding of the purpose and layout of a balance sheet!
What is the primary purpose of a balance sheet?
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Which of the following are sections of a balance sheet? (Select all that apply)
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The {{blank0}} represents what a business owns, while the {{blank1}} represents what a business owes.
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Match the items on the left with their correct pairs on the right
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Which of the following is an example of a current asset?
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Which of the following are examples of liabilities? (Select all that apply)
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A balance sheet must always {{blank0}} because the total assets are equal to {{blank1}} plus liabilities.
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Match the items on the left with their correct pairs on the right
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What is the formula used in a balance sheet?
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Match the items on the left with their correct pairs on the right
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