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Jugar Test
1. 
What is used to show the value of a business on a particular date?
A.
A trading account
B.
A cash flow statement
C.
A balance sheet
2. 
What is used to show the gross profit of a business over a year?
A.
A trading account
B.
A cash flow statement
C.
A balance sheet
3. 
What is used to show the flow of money in and out of the business over a year?
A.
A trading account
B.
A cash flow statement
C.
A balance sheet
4. 
What does the profit and loss account show?
A.
Gross profit
B.
Net profit
C.
Cash flow
5. 
If the cost of sales is £20,000 and the revenue is £60,000, then what is the gross profit?
A.
-£40,000
B.
£40,000
C.
Cannot be worked out
6. 
If gross profit is £60,000 and other expenses are £100,000 then what is the net profit?
A.
-£40,000
B.
£40,000
C.
Cannot be worked out
7. 
If current assets are £50,000 and current liabilities are £90,000, then what is net profit?
A.
-£40,000
B.
£40,000
C.
Cannot be worked out
8. 
What does a balance sheet show?
A.
The value of a business on a particular date
B.
Profit earned over a trading period
C.
The cash or near-cash available to the firm
9. 
If current assets are £50,000 and current liabilities are £90,000 then what is the business?
A.
Insolvent
B.
Solvent
C.
Making a loss
10. 
What makes a business solvent?
A.
It has enough profit
B.
It has enough working capital
C.
It has enough fixed assets