The Fabulous World of Financial Statements

All of the below are financial statements EXCEPT...

• Tax Sheet

• Balance Sheet

• Income Statement

• Cash Flow Statement

This financial statement shows the amount of money earned...

• Balance Sheet

• Income Statement

• Cash Flow Statement

An asset can include cash, real estate, or inventory that a business has...

• True

• False

Which financial statement shows how money is being spent?

• Income Statement

• Balance Sheet

• Cash Flow Statement

The balance sheet contains information found on the income statement and cash flow statement...

• True

• False

Financial statements are used to...

• Help business leaders make decisions

• Understand how much money a company is making

• Review expenses

• Wallpaper your living room

An income statement shows you how a business's money was spent...

• True

• False

Which financial statement would show you expenses?

• Income statement

• Cash flow statement

• Balance sheet

All financial statements show financial information over a period of time...

• True

• False

This financial statement shows you where a business's money is (ex. is the money cash in a bank or stocks)

• Balance sheet

• Income statement

• Cash flow statement