
Understanding Financial Statements

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard
Jennifer Brown
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of financial statements?
To list all company employees
To predict future stock prices
To summarize a company's financial activities
To provide a detailed history of a company's operations
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a component of the balance sheet?
Equity
Revenue
Liabilities
Assets
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is equity calculated on a balance sheet?
Assets minus liabilities
Cash flow minus expenses
Revenue minus expenses
Assets plus liabilities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the income statement primarily show?
A company's net income over a period
A company's equity
A company's cash flow
A company's assets and liabilities
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a company has $1 million in sales and $700,000 in expenses, what is its net income?
$1,000,000
$1,700,000
$300,000
$700,000
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement tracks real cash movements?
Cash flow statement
Equity statement
Balance sheet
Income statement
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three sections of the cash flow statement?
Revenue, expenses, and net income
Sales, purchases, and dividends
Assets, liabilities, and equity
Operating, investing, and financing activities
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