
Financial Statements Quiz
Quiz
•
Financial Education
•
University
•
Medium
Kavya Dhir
Used 2+ times
FREE Resource
Enhance your content
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do investment analysts typically want to see a company's financial statements?
To evaluate the business's competitive strategies
To assess the ability of the company to pay taxes
To determine the company's credit rating
To decide whether to recommend the company's securities to clients
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why might a union request financial statements from a business?
To evaluate the business's competitive strategies
To determine the creditworthiness of the business
To assess the ability to pay compensation and benefits to union members
To decide whether to invest in the business
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When will the reported results in financial statements be suspicious, potentially due to fraud from the below mentioned cases?
When the results are consistent with industry norms.
When there is a sudden spike in sales.
When the statements are audited.
When non-financial issues are addressed.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key difference between US GAAP and IFRS regarding the treatment of research and development costs?
US GAAP capitalizes all research and development costs and IFRS expenses all research and development costs.
US GAAP expenses all research and development costs and IFRS capitalizes all research and development costs.
Both US GAAP and IFRS expense all research and development costs.
Both US GAAP and IFRS expense research and development costs, however; IFRS capitalizes development costs in certain situations.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to the values of assets and liabilities in the balance sheet when financial statements are not adjusted for inflation?
They appear inordinately high.
They appear inordinately low.
They remain unchanged.
They become irrelevant.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of employee's interest in reviewing the financial statements of their current company?
To help employees assess the ability of the enterprise to provide remuneration
To determine the business's credit rating
To involve employees in the financial decision-making process
To help employees decide whether to buy company securities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are financial statements of different companies not always comparable?
They lack auditors' opinions.
They use different accounting practices.
They have not been verified.
They do not cover non-financial issues.
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple

Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
Similar Resources on Wayground
13 questions
VAT quiz
Quiz
•
University
10 questions
TGCT 004 2024
Quiz
•
University
15 questions
MKT S-T-P
Quiz
•
University
15 questions
Jahon iqtisodiyoti 1mavzu
Quiz
•
University
20 questions
MCQs_Chapter 3_FRA
Quiz
•
University
15 questions
The Finquest
Quiz
•
University
20 questions
Chapter 2 - Prioritize Purchases
Quiz
•
8th Grade - University
19 questions
Insurance vocabulary terms
Quiz
•
12th Grade - University
Popular Resources on Wayground
20 questions
Brand Labels
Quiz
•
5th - 12th Grade
11 questions
NEASC Extended Advisory
Lesson
•
9th - 12th Grade
10 questions
Ice Breaker Trivia: Food from Around the World
Quiz
•
3rd - 12th Grade
10 questions
Boomer ⚡ Zoomer - Holiday Movies
Quiz
•
KG - University
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
Adding Integers
Quiz
•
6th Grade
10 questions
Multiplication and Division Unknowns
Quiz
•
3rd Grade
20 questions
Multiplying and Dividing Integers
Quiz
•
7th Grade
Discover more resources for Financial Education
10 questions
Boomer ⚡ Zoomer - Holiday Movies
Quiz
•
KG - University
22 questions
FYS 2024 Midterm Review
Quiz
•
University
20 questions
Physical or Chemical Change/Phases
Quiz
•
8th Grade - University
20 questions
Definite and Indefinite Articles in Spanish (Avancemos)
Quiz
•
8th Grade - University
7 questions
Force and Motion
Interactive video
•
4th Grade - University
12 questions
1 Times Tables
Quiz
•
KG - University
20 questions
Disney Trivia
Quiz
•
University
38 questions
Unit 6 Key Terms
Quiz
•
11th Grade - University