UNIT 8 - FINANCIAL STATEMENTS

What does a balance sheet provide information about?

• Asset

• Liabilities

• Expenses

• Equity

• Income

What is the equation that a balance sheet shows?

• Assets = Liabilities + Shareholders’ equity

• Liabilities = Assets + Shareholders’ equity

• Shareholders’ equity = Liabilities – Assets

• None of these above

The balance sheet is also known as

• Statement of operational position

• Statement Of Operations

• Statement of finance

• Statement Of Financial Position

Which of the following names is NOT associated with the income statement?

• Statement of Financial Position

• P & L

• Statement of Operations

• None of these above

The income statement heading will specify which of the following

• A period of time

• A point in time

Where does Earnings per share (EPS) come from?

• Balance Sheet

• Cash Flow Statement

• Income Statement

How many types of activities that a cash flow statement has?

• 1

• 2

• 3

• 4

What does cash flow from operation include?

• Depreciation

• Net income

• Increase in current asset

• Decrease in liabilities

The cost of merchandise bought for the period is ……….

• Purchase

• Sales

• Merchandise

• None of the a bove

The difference between the sales and the cost of the sales is ………

• Net sales

• Net profit

• Net purchases

• Gross profit