Statement of Financial Position Flashcards

1
Q

noncurrent assets

A

LBMV
Property

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2
Q

current assets

A

cash
debtors
stock

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3
Q

current liabilities

A

bank overdraft
trade creditors
other short-term loans

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4
Q

non-current liabilities

A

mortgage
bank loans
debentures
other long-term borrowing

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5
Q

net asset

A

total assets - total liabilities

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6
Q

equity

A

share capital
retained earnings

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7
Q

total equity

A

total assets - total liabilities = net asset = total equity

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