Financial Statements Quiz

Financial Statements Quiz

Professional Development

10 Qs

quiz-placeholder

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Financial Statements Quiz

Financial Statements Quiz

Assessment

Quiz

Education

Professional Development

Practice Problem

Medium

Created by

pratiksha karambe

Used 1+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the balance sheet show?

The company's assets and liabilities

The company's cash flow

The company's retained earnings

The company's gross sales

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the cash flow statement show?

How money has moved through the business

The cumulative earnings of the business

The company's assets and liabilities

The company's gross profit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the statement of retained earnings show?

Cumulative earnings after dividends

Total assets of the company

Net cash flow for the period

Gross sales and returns

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for Gross Profit?

Sales - COGS

Net Sales - Operating Expenses

Total Income - Total Expenses

Sales - Sales Returns

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are cash equivalents?

Short-term investments easily convertible to cash

Long-term investments in stocks

Fixed assets like property and equipment

Accounts receivable from customers

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is included in the total operating expenses?

Administrative, Selling & Distribution, Finance Expenses

Only Administrative Expenses

Only Selling Expenses

Only Finance Expenses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the net profit after tax represent?

The profit remaining after all expenses and taxes

The total revenue of the company

The gross profit before any deductions

The total assets of the company

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