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WorksheetsShort Quiz on FS
Total questions: 20
Worksheet time: 13mins
All are types of financial statements except
Balance Sheet
Statement of Liquidity
Income Statement
Statement of Retained Earnings
Provides a financial summary of the firm’s operating results during a specified period
Statement of Retained Earnings
Balance Sheet
Statement of Cash Flows
Income Statement
The formula of Income Statement is Sales Minus Inventory Minus Expenses
True
False
Is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure
Income Statement
Balance Sheet
Statement of Retained Earnings
Statement of Cash Flows
Are short-term assets which can be converted into cash within a year or less
Marketable securities
Current assets
Current liabilities
Inventory
Are long-term assets which be converted into cash
Current assets
Current liabilities
Non-current assets
Non-current liabilities
All are current assets except
Cash
Machinery & Equipment
Inventory
Marketable securities
Represent the value that has already been paid for, such as insurance, advertising contracts or rent
(a)
Assets which include land, machinery, equipment, buildings and other durable, generally capital-intensive assets
(a)
Are the money that a company owes to outside parties, from bills it has to pay to suppliers to interest on bonds it has issued to creditors to rent, utilities and salaries
(a)
Amounts owed for credit purchases by the firm
(a)
When a business entity receives payment before providing its customers with goods or services
Earned revenue
Unearned revenue
Accounts receivable
Accounts payable
what a lessee pays to a lessor for the use of any rights, copyrights, franchises or any such asset
(a)
payments to suppliers of goods and services
outflow
inflow
This statement provides insight into the firm’s operating investment, and financing cash lows and reconciles them with changes in its cash and marketable securities during the period
Statement of Outflow & Inflow
Statement of Cash Flow
Income Statement
Statement of Owner's Equity
All are cash outflows
payments to suppliers of goods and services
payments to employees
payments for interest expense
receipts from sale of property & equipment
Increase in any asset
Outflow
Inflow
Cash flow
Money flow
It refers to goods available for sale, valued at the lower of the cost or market price. It includes raw materials, work in process (partially finished goods), and finished goods held by the firm
(a)
All are categories of cash flows except
financing
organizing
operating
investing
These represent a claim on the earnings and assets of a corporation
equity securities
marketable securities
inventories
stock options
