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Lernmaterialien für PM9 Accounting and Finance an der Universität zu Köln

Greife auf kostenlose Karteikarten, Zusammenfassungen, Übungsaufgaben und Altklausuren für deinen PM9 Accounting and Finance Kurs an der Universität zu Köln zu.

TESTE DEIN WISSEN
Assets = …
Lösung anzeigen
TESTE DEIN WISSEN
Assets = Equity + Liabilities

OR More detailed

Assets (at the end of the period) = Equity (amount at the start of the period + Profit OR - Loss for the period) + liabilities (at the end of the period)

This shows that if the company makes a loss, there is a decrease in equity and if the company makes profit the owner gains in equity.
Lösung ausblenden
TESTE DEIN WISSEN
What are the three financial statements? Tick all relevant answers.
Lösung anzeigen
TESTE DEIN WISSEN
Liabilities
Lösung ausblenden
TESTE DEIN WISSEN
A company buys a non-current asset on credit. Which immediate effect on both profit and cash does this transaction have?


Lösung anzeigen
TESTE DEIN WISSEN
Increasing effect on profit; decreasing effect on cahs
Lösung ausblenden
TESTE DEIN WISSEN
How many characteristics need to be fulfilled for asset classification?
Lösung anzeigen
TESTE DEIN WISSEN
4
Lösung ausblenden
TESTE DEIN WISSEN
The balance sheet is also called…
Lösung anzeigen
TESTE DEIN WISSEN
The statement of financial position
Lösung ausblenden
TESTE DEIN WISSEN
What does the balance sheet show?
Lösung anzeigen
TESTE DEIN WISSEN
Wealth generated in the period?
Lösung ausblenden
TESTE DEIN WISSEN
Is this an asset that could appear on the statement of financial position of a business?
A patent, bought from an inventor, that gives the business the right to produce a new product. Production of the new product is expected to increase profits over the periods during which the patent is held.
Lösung anzeigen
TESTE DEIN WISSEN
Yes, the patent has all characteristics identified and would, therefore, be regarded as an asset.
Lösung ausblenden
TESTE DEIN WISSEN
A long-term bank loan that was acquired by a business to expand its operations falls into which category?
Lösung anzeigen
TESTE DEIN WISSEN
Current asset
Lösung ausblenden
TESTE DEIN WISSEN
The three financial statements together show how healthy a business is. 
Lösung anzeigen
TESTE DEIN WISSEN
True
Lösung ausblenden
TESTE DEIN WISSEN
Within the asset section of the balance sheet, the items are listed in order of liquidity. Is this true or false?
Lösung anzeigen
TESTE DEIN WISSEN
true
Lösung ausblenden
TESTE DEIN WISSEN
A motor vehicle which was bought recently and which is used by a business to transport goods to its customers falls into which category?
Lösung anzeigen
TESTE DEIN WISSEN
Non-current assets
Lösung ausblenden
TESTE DEIN WISSEN
„Amounts due to for settlement in short term“ are also called which of the following?
Lösung anzeigen
TESTE DEIN WISSEN
Owner‘s equity
Lösung ausblenden
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Q:
Assets = …
A:
Assets = Equity + Liabilities

OR More detailed

Assets (at the end of the period) = Equity (amount at the start of the period + Profit OR - Loss for the period) + liabilities (at the end of the period)

This shows that if the company makes a loss, there is a decrease in equity and if the company makes profit the owner gains in equity.
Q:
What are the three financial statements? Tick all relevant answers.
A:
Liabilities
Q:
A company buys a non-current asset on credit. Which immediate effect on both profit and cash does this transaction have?


A:
Increasing effect on profit; decreasing effect on cahs
Q:
How many characteristics need to be fulfilled for asset classification?
A:
4
Q:
The balance sheet is also called…
A:
The statement of financial position
Mehr Karteikarten anzeigen
Q:
What does the balance sheet show?
A:
Wealth generated in the period?
Q:
Is this an asset that could appear on the statement of financial position of a business?
A patent, bought from an inventor, that gives the business the right to produce a new product. Production of the new product is expected to increase profits over the periods during which the patent is held.
A:
Yes, the patent has all characteristics identified and would, therefore, be regarded as an asset.
Q:
A long-term bank loan that was acquired by a business to expand its operations falls into which category?
A:
Current asset
Q:
The three financial statements together show how healthy a business is. 
A:
True
Q:
Within the asset section of the balance sheet, the items are listed in order of liquidity. Is this true or false?
A:
true
Q:
A motor vehicle which was bought recently and which is used by a business to transport goods to its customers falls into which category?
A:
Non-current assets
Q:
„Amounts due to for settlement in short term“ are also called which of the following?
A:
Owner‘s equity
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