Accounting Multiple Choice Question – 15 February 2019

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Which of the following summarised balance sheets (statement of financial position) is correct?

Table 48

Select ONE answer:

  1. Business 1
  2. Business 2
  3. Business 3
  4. Business 4

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Accounting KS5 classes.

The answer is 3

  • In accordance with the accounting question, Capital = Assets – Liabilities. The Balance Sheet of Business 3 is the only one where the figure for Capital equals the difference between the total of the assets and the total of the liabilities.
  • £1,068 = (£1,100 + £440) – (£472 + £NIL)

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