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WorksheetsFinancial Statement _ English for Accounting
Total questions: 10
Worksheet time: 5mins
The goods which a company produces, but which have not yet been sold.
Assets
Liabilities
Inventory
Cash
Money in the form of bank notes and coins.
Account payable
Account receivable
Withdrawals
Cash
A _________________ is the same as a tax declaration – it’s a list of income and tax deductible expenditure for the tax authority.
Tax exile
Tax avoidance
Tax return
Tax evasion
What basic financial statements can be found in a corporate annual report?
Earnings statement and statement of retained earnings
Balance sheet, income statement, statement of shareholders' equity, and statement of cash flows
Balance sheet, auditor's report and income statement
Statement of cash flows and five-year summary of key financial data
Smaller profits may be better so that we pay _______________ tax.
much
more
few
less
A list of all employees and their wages
Balance sheet
Payroll
Liquid assets
Liability
Money remaining after all expenses and taxes have been paid
Expense
Property
Equity
Net income
Liability
Something that is legally owned by a person or company
A list of all employees and their wages
The balance of cash receipts minus cash payments over a given period of time
An obligation to settle a debt; money owed to someone
The process of comparing the actual state of the bank account with the bank nominal code in the accounts
balance sheet
income statement
Bank Reconciliation
cash in hand
the amount of liquid equity held by an entity at a certain point of time
True
False
