Formative Assessment 6: SO2 AC2, 3 & 4 US 252040
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1. Question
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Complete the following individually as per the instructions from your facilitator:
Study the “Balance Sheet” presented below and then answer the questions that follow:
6.1 The name of this document has changed with the IFRS – what should the name be now?
6.2 Determine the following as on 31/12/ 20X6, using the figures supplied in the Statement of Financial Position (balance sheet) above:
a) Total assets
b) Total liabilities
c) Stock
d) Cash and bank balances
6.3 What conclusions can you draw about the liquidity and viability of the company based on the Statement of Financial Position (balance sheet) information?
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