Financial reporting_ 1st quiz

How many financial statements are there ?

• 2

• 3

• 4

• 1

Which one is asset ?

• Bonds

• Car

• Receivables

• Borrowings

• Inventories

Which one is liability ?

• Loans

• Cash

• Capital

• Debentures

• Payables

Which appears on balance sheet ?

• Capital

• Rental expense

• Loans

• Sales

• Cash

Which appears on income statement ?

• Account receivables

• Sales

• Depreciation

• Debentures

• Advertising expense

Which statement tells you about the financial performance of the company ?

• Income statement

• Balance sheet

• Cash Flow Statement

• Notes to financial statement

Which statement tells you about the financial position of the company ?

• Income statement

• Balance sheet

• Cash Flow Statement

• Notes to financial statement

Which statement tells you about the profit and loss of the company for the period ?

• Cash flow statement

• Income statement

• Balance sheet

• All of them

Which statement tells you about the assets, liabilities and equity of the business ?

• Balance sheet

• Income statement

• Cash flow statement

• None of them