Finance: financial statements

Assets, liabilities and owner's equity can be found in what financial statement?

• Income statement

• Cash flow statement

• Balance sheet

• Profit and loss statement

Accounts payable are found in?

• Current assets

• Non-current assets

• Owner's equity

• Current liabilities

Cost of Goods Sold (COGS) is found in what financial statement?

• Income statement

• Balance sheet

• Cash flow statement

• Budget

Which financial statement typically includes the revenue and expenses of a company?

• Balance sheet

• Income statement

• Cash flow statement

• Equity statement

Where would you typically find the 'Retained Earnings' reported?

• Income statement

• Balance sheet

• Cash flow statement

• Owner's equity

What financial statement provides information about cash receipts and cash payments during a period?

• Income statement

• Balance sheet

• Cash flow statement

• Profit and loss statement

Which financial statement is primarily concerned with the reporting of a company's financial position at a specific point in time?

• Income statement

• Balance sheet

• Cash flow statement

• Equity statement

A liability is...

• a debt or financial obligation that a business owes

• an investment made in the business

• funds that a business has received in return for part ownership of a business

• something a business can turn into cash when it is sold

Profits that are shared with owners are known as?

• Retained earnings

• Reservers

• Dividends

• Owner's equity

Undistributed profits are also known as?

• Capital

• Liabilities

• Assets

• Retained earnings