Quizz 2 FAD

The balance sheet is a table with two columns:

• • Costs and revenues

• • Assets and liabilities

• • Costs and liabilities

• • Assets and revenues

The balance sheet is a snapshot of the organization's financial situation at a specific point in time.

• • True

• • False

Assets correspond to:

• • What the company owns

• • How the company finances what it owns

Loans belong to:

• • Assets

• • Liabilities

The net income for the period is found in:

• • Fixed assets

• • Debts

• • Current assets

• • Equity

The main year-end documents are:

• • The income statement

• • The gross domestic product

• • The net margin

• • The balance sheet

The balance sheet and the income statement must be prepared every:

• • 6 months

• • 12 months

• • 18 months

• • 24 months

The income statement allows for the analysis of:

• • The financial structure of the company

• • The solvency of the company

• • The company's activity

How do we calculate net income?

• • Total expenses – total liabilities

• • Total assets – total revenues

• • Total revenues – total expenses

• • Financial result + operating result + exceptional result – corporate taxes

Among the following information, which should not appear in the income statement?

• • The principal of loans

• • Revenue

• • Interest on loans