Which of the following statements is false?
A) The "equity" component of the statement of financial position is increased by the amount of profit earned during the year
B) The "equity" component of the statement of financial position is decreased by the amount of profit earned during the year
C) The "equity" component of the statement of financial position is reduced by the amount of dividend to be paid for the year
D) The "equity" component of the statement of financial position may change as the result of a revaluation of assets
Correct Answer:
Verified
Q1: Which of the following statements is correct?
A)
Q2: If opening stock is £3,000,purchases for the
Q3: Revenue is:
A) The amount received from borrowing
B)
Q4: Operating profit is:
A) Sales - cost of
Q5: Which of the following statements is correct?
A)
Q7: If purchases for the year are £18,250,closing
Q8: Revenue is the amount received in cash
Q9: If a company buys a machine for
Q10: Profit = revenue + expenses
Q11: Which of the following statements is false?
A)
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