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Teams
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Score
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baam
Lose 25 points!
Oops!
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gift
Win 20 points!
Okay!
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gift
Win 15 points!
Okay!
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thief
Give points!
5
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25
10
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What does a balance sheet show?
Balance sheets are used to show the financial position of the business at the end of the year, showing all what the business owns vs what is owes
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10
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What are the two classifications of Assets?
Current and Non-Current
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10
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What is the name of the other type of final statement other than the income statement?
Balance Sheet/ Statement of Financial Position
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10
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An example of a non current liability is a mortgage payment yes or no?
Yes
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10
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Give two examples of an Asset
Vehicle, Stock, Bank Cash etc.
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10
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Machinery bought for the business is classed as a current asset True or False?
False
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eraser
Reset score!
Oops!
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magnet
Take 20 points!
Okay!
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shark
Other team loses 10 points!
Okay!
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lifesaver
Give 25 points!
Oops!
10
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Give two examples of a liability
creditors, loans, mortgages, any form of payable
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10
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An example of a current Asset is a motor car yes or no?
No
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10
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Which of the following does not belong ( Buildings, Land, Money, Loans, Debtors)
Loans (all the others are examples of assets except for loans)
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baam
Lose 25 points!
Oops!
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shark
Other team loses 15 points!
Okay!
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rocket
Go to first place!
Okay!
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baam
Lose 5 points!
Oops!
10
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What is the accounting equation?
Assets = Capital + Liabilities
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10
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Assets are the resources that the business owes. Is this statement right or wrong?
Wrong
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10
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Which of the following does not belong (Payments overdue, Mortgages, Loan Payments, Stock)
Stock (All others are examples of liabilities)
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lifesaver
Give 5 points!
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fairy
Take points!
5
10
15
20
25
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shark
Other team loses 15 points!
Okay!
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banana
Go to last place!
Oops!
×
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