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WorksheetsCHAPTER 2: Financial Statements
Total questions: 10
Worksheet time: 6mins
Which of the following are Financial Statements for business?
Trial Balance Account
Ledger
Income Statement
Balance Sheet
Which of the following included in Income Statement?
Sales
Assets
Taxes
Rental cost
Liability
Which of the following included in the Balance Sheet?
Sales
Assets
Taxes
Rental cost
Liability
The income statement consists of Operating Activities, Financing Activities, and Investment activities.
True
False
Operating Activities in the Income Statement consist of the following:
revenue
cost of good sold
operating expenses
interest expense
income taxes
Operating Income is also known as
EBT
EAT
EBIT
Revenue
Which of the following does not belong to current asset
marketable securities
machine and equipment
inventory
prepaid expenses
Which of the following are not Current Liabilities
Account payable
Mortgages
Short-term notes
Accrued expenses
Which of the following are Equity
Preferred stock
Mortgages
Paid-in-Capital
Retained earnings
Short-term notes
Assets that are relatively liquid and are expected to be converted to cash within a year. - This refers to
Equity
Liability
Current asset
Fixed asset
