Financial statement analysis - quiz 1

What can you do if are an accounting expert (you can select one or more options)

• A manager

• An accountant

• An auditor

• A tax officer

• all of the above

Which of the followings is/are example(s) of transactions to be recorded in the financial statements?

• A sale of products to customers

• Purchase of inventory from a suppliers

• A new employee is hired to replace someone just left the company

• An important meeting is held to discuss the new business strategy

Select the elements of the Balance sheet from the followings:

• Liabilities

• Assets

• Income

• Revenue

• Equity

Select the elements of the income statement from the followings:

• Assets

• Liabilities

• Income

• Equity

• Expenses

Statement of financial position is another name for the ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

Statement of financial performance is another name for the ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,