Financial Quiz 2

_________________ represents the value that would be returned to a company’s shareholders if all of the assets were liquidated and all of the company's debts were paid off.

• Equity

• Rich

• Wealth

• Cost

A_____________is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.

• salary

• investment

• assets

• liability

• resource

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

An_________is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.

• income

• asset

• expense

• actual cost

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

____________is the income generated from normal business operations and includes discounts and deductions for returned merchandise.

• Value

• Stock

• Operations

• Revenue

______ ___________ is calculated by subtracting all liabilities from assets. An asset is anything owned that has monetary value, while liabilities are obligations that deplete resources, such as loans, accounts payable (AP), and mortgages.

• Net Cost

• Net Work

• Net Advance

• Net Worth

• Net Gain

Tags

CCSS.6.NS.C.5

A _______ __________ 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.

• Balance Sheet

• Budget Card

• Fiscal Report

• Cost Review

_______ _________a financial statement of a business showing the details of revenues, costs, expenses, losses, and profits for a given period

• Financial Flow

• Cost Document

• Income Statement

• Salary Report