Spot the Liability (ACCA FA)

Exercise and reference answers

Questions

1. Items

   1. Cash at bank
   2. Inventory
   3. Receivables
   4. Trade payables

   Odd item

   Trade payables

2. Items

   1. Bank loan
   2. Machinery
   3. Buildings
   4. Goodwill

   Odd item

   Bank loan

3. Items

   1. Prepayments
   2. Accruals
   3. Vehicles
   4. Cash in hand

   Odd item

   Accruals

4. Items

   1. Patents
   2. Receivables
   3. Overdraft
   4. Equipment

   Odd item

   Overdraft

Instructions

Tap the item that is NOT an asset.