CP 2 modul (Balance sheet)

Question 1

Balance sheet

Answer 1

document that presents the assets of the enterprise, sources of financing these assets- liabilities& equity

Question 2

Intangible assets

Answer 2

Long term assets

Question 3

Property, plant and equipment

Answer 3

Long term assets

Question 4

Long term receivables

Answer 4

Long term assets

Question 5

Long term investments

Answer 5

Long term assets

Question 6

goodwill(reputation, brand name, customer base, and other intangible assets that contribute to its overall value)

Answer 6

Long term assets

Question 7

Long term accruals- accrued revenue( company gets cash now but customers gets the product/service later)

Answer 7

Long term assets

Question 8

Shareholders equity

Answer 8

equity

Question 9

Retained earnings(portion of a company’s profits that are not distributed to shareholders as dividends but instead are retained by the company for reinvestment or future use)

Answer 9

equity

Question 10

Net income/ loss

Answer 10

equity

Question 11

Inventories

Answer 11

Short term assets

Question 12

Short term receivables(money owed to a company)

Answer 12

Short term assets

Question 13

Short term investments( including cash)

Answer 13

Short term assets

Question 14

Short term accruals (deferred tax asset)

Answer 14

Short term assets

Question 15

Long term liabilities

Answer 15

Liabilities

Question 16

Short term liabilities

Answer 16

Liabilities

Question 17

accruals (deferred revenue)

Answer 17

Liabilities

Question 18

assets used in a period longer than 1 operating cycle or with a useful life of more than one year

Answer 18

non-current assets

Question 19

Include money due to the company (repayment date of which is longer than 1 year)

Answer 19

Long term receivables

Question 20

Share capital, also known as shareholder’s equity or contributed capital, is the portion of a company’s financial resources that has been contributed by its shareholders in exchange for ownership shares.

Answer 20

Share capital ( also shareholder’s equity or contributed capital)

Question 21

shares of a company’s own stock that have been repurchased from shareholders and held by the company itself

Answer 21

Treasury shares

Question 22

reserve capital

Answer 22

portion of a company’s equity that is set aside for specific purposes, such as financing future growth, funding long-term projects, or absorbing potential losses.

Question 23

revaluation reserve

Answer 23

Arising as a result of revaluation of fixed assets and long term investments (Imagine a company owns a building that it purchased for $100,000 five years ago. Over time, the value of real estate in the area has increased. Now, the building is worth $150,000.)

Question 24

Provisions/ reserves for liabilities

Answer 24

Are certain or highly probable future liabilities, the amount of which can be reliably estimated