REVIEW FINANCIAL STATEMENTS
Authored by ABIGAIL ROSACEÑA
Business
10th Grade
Used 52+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The financial statement that reports whether the business earned a profit and also lists the revenues and expenses is called the:
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The income statement can be expressed as an equation:
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Examples may include salaries, utilities, rent, insurance, and office supplies.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This document communicates what the entity owns in terms of assets, what it owes in the terms of liabilities, and the difference between those two which represents what the owners o the company are entitled to.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What a company owes to creditors:
Assets
Liabilitites
Equity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets = Liabilities + Equity
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are assets?
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