IB BUSINESS MANAGEMENT FINANCE AND
ACCOUNTS 3.4 FINAL ACCOUNTS ACTUAL
PAPER 2026 QUESTIONS WITH VERIFIED
ANSWERS GRADED A+
◉ Retained profit Answer: The profit left after all deductions, including
interest, tax, and dividends, have been made. This is 'ploughed back' into
the company as a source of finance
◉ Balance sheets Answer: An accounting statement that records the
values of a business's assets, liabilities and shareholders' equity at one
point in time
◉ Assets Answer: Items of monetary value that are owned by the
business
◉ Liabilities Answer: A financial obligation of a business that it is
required to repay in the future
◉ Share capital Answer: The total value of capital raised from
shareholders by the issue of shares (shows value when the shares were
first sold rather than current market value)
◉ Equity Answer: Refers to the value of the business belonging to the
owners
ACCOUNTS 3.4 FINAL ACCOUNTS ACTUAL
PAPER 2026 QUESTIONS WITH VERIFIED
ANSWERS GRADED A+
◉ Retained profit Answer: The profit left after all deductions, including
interest, tax, and dividends, have been made. This is 'ploughed back' into
the company as a source of finance
◉ Balance sheets Answer: An accounting statement that records the
values of a business's assets, liabilities and shareholders' equity at one
point in time
◉ Assets Answer: Items of monetary value that are owned by the
business
◉ Liabilities Answer: A financial obligation of a business that it is
required to repay in the future
◉ Share capital Answer: The total value of capital raised from
shareholders by the issue of shares (shows value when the shares were
first sold rather than current market value)
◉ Equity Answer: Refers to the value of the business belonging to the
owners
