Balance Sheet Quiz 3
Authored by Emily Vaught
Science
12th Grade
NGSS covered
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the balance sheet?
A statement of financial position
A statement of income
A statement of cash flow
A statement of expenses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to understand the balance sheet?
To prepare for funding
To determine financial health
To assess risk
All of the above
Tags
NGSS.HS-ESS3-2
NGSS.HS-ETS1-3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three major financial statements?
Balance sheet, income statement, cash flow statement
Balance sheet, expense statement, cash flow statement
Balance sheet, income statement, revenue statement
Balance sheet, expense statement, revenue statement
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the basic accounting equation?
Assets = Liabilities + Equity
Assets = Liabilities - Equity
Assets + Liabilities = Equity
Assets - Liabilities = Equity
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are current assets?
Short-term assets that can be converted into cash within one year
Long-term assets that can be converted into cash within one year
Short-term assets that can be converted into cash within five years
Long-term assets that can be converted into cash within five years
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