Understanding Financial Statements Quiz
Authored by Jide Babatope
Business
2nd Grade
Used 5+ times
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21 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an income statement used for?
To show the weather forecast
To show how much money a company makes and spends
To show the number of employees in a company
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a component of a balance sheet?
Weather report
Assets
Shopping list
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is revenue?
The money a company spends
The money a company earns
The number of employees in a company
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are expenses?
The money a company earns
The money a company spends
The number of products a company sells
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an asset?
A company's debt
A company's building
A company's expenses
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a liability?
Something a company owns
Something a company owes
Something a company sells
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate net profit?
Revenue minus expenses
Assets minus liabilities
Revenue plus expenses
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