Accounting Multiple Choice Question – 30 August 2021

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

Accounting
apple devices books business coffee
Photo by Serpstat on Pexels.com

A company’s Balance Sheet at 31 December 2019 included the following 

Long term liabilities  —  Loan (repayable on 30 April 2021)  —  £50,000

Long term liabilities  —  10% debentures (2019 – 2025)  —  £100,000

The company intends to redeem half the debentures on 31 December 2021 and the remainder on 1 July 2022. 

How should these liabilities be shown in the Balance Sheet at 31 December 2020?

Select ONE answer:

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

  1. Not correct
  2. Not correct
  3. Correct
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s