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business > balance sheets > Flashcards

balance sheets Flashcards

1
Q

balance sheet order

A

non current assets
current assets
liquidity
current liabilities
net assets
long term liabilities
shareholder funds

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2
Q

non current assets

A

own for more than 12 months
examples of these are: land premises, vehicle and machinery

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3
Q

current assets

A

own for less than 12 months
examples of these are
stock-wip,finished goods, raw materials
debtors
cash and bank

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4
Q

liquidity

A

ease and cost which assets can be turned into cash and used immediately as a means of exchange

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4
Q

net current assets can also be referred to as

A

working capital

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4
Q

current liabilities

A

bank overdrafts/loans
creditors
accurals/provisions

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5
Q

example of a total long term liability

A

commerical mortgages

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6
Q

examples of shareholder funds

A

share capital
retained profit
reserves

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7
Q

what are reserves

A

retained profit you dont spend

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business (13 decks)

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