Next in the Sentence (ACCA FA)

Exercise and reference answers

Questions

1. Question

   A present obligation of uncertain timing is a...

   Correct

   provision

   Choices

   1. provision
   2. prepayment
   3. dividend

2. Question

   A possible obligation disclosed in notes is a ...

   Correct

   contingent liability

   Choices

   1. contingent liability
   2. current asset
   3. reserve

3. Question

   Amounts owed to suppliers are trade ...

   Correct

   payables

   Choices

   1. payables
   2. receivables
   3. discounts

4. Question

   Money owed within twelve months is a current ...

   Correct

   liability

   Choices

   1. liability
   2. asset
   3. equity

Instructions

Tap the correct next word.