Skip to content

Course home

Sign up

Card 1 of 27

What three things does a statement of financial position show at a specific point in time?

A
  • Cash inflows (received)
  • Cash outflows (paid)
  • Net cash flow (cash movement)
B
  • Assets (owned/controlled)
  • Liabilities (owed)
  • Equity and reserves (owners' claim)
C
  • Sales revenue (income)
  • Cost of sales (direct costs)
  • Gross profit (trading surplus)
D
  • Revenue (earned)
  • Expenses (incurred)
  • Profit or loss (financial result)

Card 1 of 27

Statement of financial position Flashcards

  1. A Level
  2. /Business
  3. /Statement of financial position

27 flashcards on OCR A Level Business Statement of financial position: the key terms, formulae and case studies you need to recall for Component 01, Component 02 and Component 03.

Flashcards