a-1, b-2, c-3, d-4
a-3, b-4, c-2, d-1
a-3, b-4, c-1, d-2
a-4, b-3, c-1, d-2
Answer is Right!
Answer is Wrong!
The correct answer is A. a-1, b-2, c-3, d-4.
- Statement of changes in working capital is a financial statement that shows the changes in a company’s working capital over a period of time. It is prepared by comparing the beginning and ending balances of the company’s current assets and current liabilities.
- Cash flow statement is a financial statement that shows a company’s cash receipts and cash payments over a period of time. It is prepared by classifying cash flows into operating, investing, and financing activities.
- Deferred tax is a tax that is not payable in the current period but is expected to be payable in a future period. It arises when a company’s tax expense is different from its taxable income.
- Impairment loss is a loss that occurs when the carrying value of an asset is greater than its fair value. It is recognized when the carrying value of an asset is no longer recoverable.
A statement of changes in working capital is not a fund flow statement. A fund flow statement is a financial statement that shows the sources and uses of funds during a period of time. It is prepared by classifying funds into operating, investing, and financing activities.
Deferred tax is not a fixed asset. A fixed asset is an asset that is used in the production of goods or services and that has a useful life of more than one year.
Impairment loss is not a balance sheet item. A balance sheet is a financial statement that shows a company’s assets, liabilities, and equity at a point in time.