Financial Statements and Ratios

Financial Statements and Ratios

12th Grade

20 Qs

quiz-placeholder

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Financial Statements and Ratios

Financial Statements and Ratios

Assessment

Quiz

Business

12th Grade

Easy

Created by

Thomas Otstot

Used 16+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An Income Statement is also knows as a:

Revenue and Cost Statement

Profit and Expense Statement

Asset and Liability Statement

Profit and Loss Statement

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An Income Statement shows a company's:

Net Income

Revenue

All answers are correct

Expenditures

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Income Statements answer the simple question:

Is the company making a profit?

Is the company competitive?

Is the company ready to go public?

None of the answers are correct

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Revenue" is defined as:

The amount of equity a company has on hand at the end of the year

The amount of money a company has after deducting expenses

The amount of money a company takes in over a set amount of time

The amount of profit shareholders get to keep

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Cost of Goods Sold (COGS)" is defined as:

The total expenses a company incurs in a period of time

The operational costs of all departments in a company

All of the answers are correct

The total cost to a business to manufacture and sell a specific product or service

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Operating Expenses include:

Rent on office space

Office Supplies

Salaries and Wages

All answers are correct

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Depreciation is:

The cost of an asset when sold

The loss of value of an asset over time

None of the answers are correct

The cost of an asset when purchased

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