Worksheets1 Financial Management for Non-Financials
Total questions: 10
Worksheet time: 8mins
Which of the following best describes the main purpose of financial management in an organization??
A) Minimizing tax payments
B) Maximizing shareholder value
C) Reducing the number of employees
None of the above
What is the main goal of finance
Tracking tax payments
Managing raw materials
Managing money and resources over time
Calculating inventory volumes
Which of the following best defines accounting?
Controlling employee behavior
Recording and communicating financial information
Trading goods and services
Setting national financial policies
the fundamental accounting equation? Assets = Liabilities + Equity
true
false
Finance is only concerned with accounting records
True
False
Management accounts are always shared with the public
True
False
Financial and management accounting are identical in purpose and audience
True
False
Double-entry accounting ensures that:
Revenue is recorded only when cash is received
Each transaction affects only one account
Each transaction is recorded in at least two accounts
Businesses report weekly profit
Which financial statement provides a snapshot of a company’s financial position at a specific point in time?
A) Balance Sheet
B) Income Statement
C) Cash Flow Statement
D) Statement of Retained Earnings
Actual movement of cash called
profits
operational income
