Financial Analysis Review

Financial Analysis Review

Assessment

Flashcard

Other

11th Grade

Hard

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70 questions

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1.

FLASHCARD QUESTION

Front

A _________ is a summary level report used to convey the financial position and performance of an organization within a specific time period.

Back

Financial Statement

2.

FLASHCARD QUESTION

Front

The __________ is a financial statement that summarizes the total revenues and expenses of an organization, and the resulting profit or loss over a specific accounting period

Back

Income Statement

3.

FLASHCARD QUESTION

Front

What accounts are included in an income statement?

Back

Revenue & Expenses

4.

FLASHCARD QUESTION

Front

If revenues are greater than or equal to expenses, the income statement reports a _________.

Back

Net Income

5.

FLASHCARD QUESTION

Front

If revenues are less than expenses, the income statement reports a _________.

Back

Net Loss

6.

FLASHCARD QUESTION

Front

A(n) __________ is a financial statement that marks a company's financial situation at a moment in time.

Back

Balance Sheet

7.

FLASHCARD QUESTION

Front

What is the accounting equation?

Back

Assets = Liabilities + Owners’ Equity

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