7/10/24 Flashcards by Lohan Blackmore

Q

What is a balance sheet?

A

A statement of financial position

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Q

What is the calculation for net assets?

A

Total assets - total liabilities

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Q

What is Equity/ Share capital?

A

Total funds raised by issuing shares

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Q

What is capital employed?

A

Share capital+ debt capital

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Q

What is current ratio?

A

Current assets/ current liabilities

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Q

What is the acid test?

A

(Current assets - stock) / current liabilities

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