Financial Documents

Financial Documents

12th Grade

12 Qs

quiz-placeholder

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Financial Documents

Financial Documents

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Kadian Rowe

Used 2+ times

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Budgeting is crucial to your financial success.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Preparing a budget includes

Income, Expenses, Saving

Only listing your expenses

Only listing your debts

Only listing your income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Income Statement lists a businesses:

Assets and Expenses

Owner's Equity and Revenue

Revenue, cost of goods and Expenses

Expenses and Net Assets

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When expenses are greater than income?

expense

net loss

net income

net gain

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A Net Profit occurs if:

Gross Profit is greater than expenses

Expenses greater than Gross Profit

None of the listed choices

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What period of time does a balance sheet cover?

One quarter

One moment in time

One year

One tax year

SHOW ANSWER

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A document that shows the earnings and deductions for all employees for the payroll period is

an employee earnings record

a payroll register

a wage and tax statement

both A and C

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