0
[{"id":368636,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 08:05:20","updated_at":"2018-01-29 08:23:23","questionName":"What is capital recorded as in the balance sheet ?","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":9,"explanation":"The exam question normally show the capital amount but when you prepare the balance sheet you show it as beginning balance.","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368639,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 08:10:33","updated_at":"2018-01-29 08:23:23","questionName":"All loans that are to be repaid more than 1 year later are shown as__________ in the balance sheet","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":12,"explanation":"","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368637,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 08:06:43","updated_at":"2018-01-29 08:23:23","questionName":"What is bank overdraft reported as in the balance sheet ?","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":10,"explanation":"","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368641,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 08:20:15","updated_at":"2018-01-29 08:23:23","questionName":"Prepaid expenses are ...","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":1,"explanation":"","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368629,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 07:59:17","updated_at":"2018-01-29 08:23:23","questionName":"Income received in advance is a ...","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":6,"explanation":"income received in advance is like deposit collected. There is no work or goods given although money is collected. So it represents amount owed.","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368627,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 07:56:04","updated_at":"2018-01-29 08:23:23","questionName":"Trade payable is a","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":4,"explanation":"All \"payables\" means need to pay $ later, so they are current liabilities. Trade payables are suppliers who are owed money for goods supplied ","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368638,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 08:08:53","updated_at":"2018-01-29 08:23:23","questionName":"When profit and loss is shown as a \"cr\" amount it means .....","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":11,"explanation":"If profit and loss is shown as Dr, it means it is \"less loss for the year\"","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368625,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 07:52:40","updated_at":"2018-01-29 08:23:23","questionName":"Building is a","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":2,"explanation":"","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368628,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 07:57:46","updated_at":"2018-01-29 08:23:23","questionName":"Capital is in the ","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":5,"explanation":"capital represents amount directly contributed by owner into the business. ","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368640,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 08:18:48","updated_at":"2018-01-29 08:23:23","questionName":"Balance sheet is a report on ......","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":0,"explanation":"Note the difference in the title of income statement and balance sheet. Income statement is for a period of time but balance sheet is for a specific date.","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368635,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 08:03:24","updated_at":"2018-01-29 08:23:23","questionName":"Accrued expenses is a ....","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":8,"explanation":"accrued means owing. It is amount owing using for services used. e.g. phone bills which are paid 1 month later.","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368634,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 08:01:44","updated_at":"2018-01-29 08:23:23","questionName":"Current portion of long term borrowings is ...","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":7,"explanation":"It is the part of the loan due for payment within 1 year. Some loans need to be repaid in instalments. So the amount that the business needs to pay in 1 year is considered current liability","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":368626,"quiz_id":"18646","answer_id":null,"answerType_id":"0","created_at":"2018-01-29 07:54:04","updated_at":"2018-01-29 08:23:23","questionName":"trade receivable is a","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":3,"explanation":"all receivables means business will receive $ later. Trade receivables means money owed by customers","question_score_id":null,"lang":null,"questionAudioPath":null}]