PM9 Accounting And Finance an der Universität Zu Köln | Karteikarten & Zusammenfassungen

Lernmaterialien für PM9 Accounting and Finance an der Universität zu Köln

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TESTE DEIN WISSEN
What are the three financial statements? Tick all relevant answers.
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TESTE DEIN WISSEN
Liabilities
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TESTE DEIN WISSEN
How many characteristics need to be fulfilled for asset classification?
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TESTE DEIN WISSEN
4
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TESTE DEIN WISSEN
Assets = …
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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.
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TESTE DEIN WISSEN
Which one is the correct income statement layout?
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TESTE DEIN WISSEN
Revenue
- cost of sales
= Gross Profit
- operating expenses
= operating profit
+ interest received
- interest on borrowings
= profit for the year 
Lösung ausblenden
TESTE DEIN WISSEN
The balance sheet is also called…
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TESTE DEIN WISSEN
The statement of financial position
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TESTE DEIN WISSEN
What does the balance sheet show?
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TESTE DEIN WISSEN
Wealth generated in the period?
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TESTE DEIN WISSEN
What is the second item on the income statement?
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TESTE DEIN WISSEN
Cost of sales
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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?
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TESTE DEIN WISSEN
Non-current assets
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TESTE DEIN WISSEN
The three financial statements together show how healthy a business is. 
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TESTE DEIN WISSEN
True
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TESTE DEIN WISSEN
What is a claim?
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TESTE DEIN WISSEN
An obligation of the business to provide cash, or another form of benefit, to an outside party. (something that is not paid for yet)
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TESTE DEIN WISSEN
How do you calculate the gross profit?
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TESTE DEIN WISSEN
Profit from buying and selling goods
Revenue – cost of sales
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TESTE DEIN WISSEN
Electricity expenses for the current year are 13,500€ (billed four times a year). By the end of the current year, we only paid 10,125€, as the last bill arrived at the end of the reporting period. Which one of the following is created?
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TESTE DEIN WISSEN
A receivable of 3,375€
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Q:
What are the three financial statements? Tick all relevant answers.
A:
Liabilities
Q:
How many characteristics need to be fulfilled for asset classification?
A:
4
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:
Which one is the correct income statement layout?
A:
Revenue
- cost of sales
= Gross Profit
- operating expenses
= operating profit
+ interest received
- interest on borrowings
= profit for the year 
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:
What is the second item on the income statement?
A:
Cost of sales
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:
The three financial statements together show how healthy a business is. 
A:
True
Q:
What is a claim?
A:
An obligation of the business to provide cash, or another form of benefit, to an outside party. (something that is not paid for yet)
Q:
How do you calculate the gross profit?
A:
Profit from buying and selling goods
Revenue – cost of sales
Q:
Electricity expenses for the current year are 13,500€ (billed four times a year). By the end of the current year, we only paid 10,125€, as the last bill arrived at the end of the reporting period. Which one of the following is created?
A:
A receivable of 3,375€
PM9 Accounting and Finance

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