financial statements

Which of these is classified as an income?

• Cash

• cell phone bill

• credit card

• babysitting payment

Would you prefer a credit card with?

• A higher interest rate

• A lower interest rate

Would you prefer a Savings Account with?

• A higher interest rate

• A lower interest rate

The main source of revenue for a trading business

• Sales
• Dividends
• Fees received
• Capital

What is another name for a business' sales revenue?

• Sales

• Costs

• Sales turnover, turnover or revenue

• Profit and Loss

What does the money spent on materials affect?

• Gross Profit figure only

• Net Profit figure only

• Both Gross Profit and Net Profit figures

A Profit and Loss Account summarises a business's

• stock and raw materials

• highs and lows

• pros and cons

• revenues and costs

A profit and loss account can help a business to?

• forecast

• typecast

• foretell

• foreshadow

What is balance sheet?

• A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.

• A Balance sheet is one of a company's core financial sheet that shows their profit and lossProfit and Loss

Which one is not belongs to liability?

• Mobile Phone Bill

• Bank Loan

• Bank Balance

• Owed To Friends