WorksheetsMSBC Lesson 3
Total questions: 10
Worksheet time: 5mins
What is the best definition of a Financial Statement?
Written records that display the financial performance of a company
Stock price
Name of a company
Cash flow statement
Which of these is not an asset?
Car
Accounts Payable
Cash
Building
What is a liability?
What the company owes
What the company owns
What is the big equaiton
Assets = Liabilities + Equity
Liabilities + Assets = Equity
Equity + Assets = Equity
Assets + Equity + Liablities = 30
If I have 4000 in expenses and 5500 in revenue, what is my profit?
1650
1500
-1500
2000
What is the difference between a balance sheet and an income statement?
Balance sheet shows assets and liabilites and equity, and income statement shows net income
Balance sheet shows net income, while income statement shows assets and liabilites and equity
Balance sheet shows dividends of a stock and its price, while income statement shows the stock value
None of these answers
What is the calculation of Gross profit?
Assets - liabilites = Gross Profit
Revenue - expenses = Gross Profit
Revenue - Cost of Revenue = Gross Profit
Income - Expenses = Gross Profit
Bonus: What did Facebook change their name to?
Metaverse
Bookface
Meta
Instabook
