Andres business quiz 2/25/25

Which form is used to report income received from sources such as freelance work or independent contracting?

• Profit and Loss Statement

• W-2

• 1099 Form

• Tax Return

Which financial document shows a company’s total assets, liabilities, and shareholder equity at a specific point in time?

• Cash Flow Statement

• Employee Handbook

• Bank Statement

• Balance Sheet

What document provides a summary of all transactions conducted through a bank account during a given period?

• Payment History

• Transaction Report

• Inventory Log

• Bank Statement

Which document legally permits a business to function in a specific region or locality?

• Operating Agreement

• Business License

• Business Tax ID

• Work Permit

What type of document legally binds two or more parties to specific terms and conditions?

• Project Proposal

• Contract

• Memorandum of Understanding

• Confidentiality Agreement

Which document serves as a guide for company policies, workplace expectations, and employee rights?

• Job Description

• Employee Handbook

• Payroll Summary

• Company Mission Statement

What document provides an estimation of the costs associated with delivering goods or services?

• Budget Forecast

• Estimate

• Cost Breakdown

• Invoice

What document summarizes an employee’s business-related expenditures?

• Purchase Requisition

• Expense Report

• Payment Invoice

• Financial Report

Which report tracks and displays the total income, expenses, and net profit or loss of a company over a set period?

• Profit and Loss Statement

• Sales Record

• Bank Statement

• Income Statement

Which document acts as proof of purchase and confirms the transaction of goods or services?

• Order Confirmation

• Sales Receipt

• Payment Voucher

• Shipping Invoice