Finance Quiz

Which of the following is NOT one of the main financial reporting documents?

• Income statement

• Balance sheet

• Cash flow statement

• Budget report

What is another name for the income statement?

• Profit and loss statement

• Balance sheet

• Cash flow statement

• Financial report

Which fictional business is used in the resource to demonstrate the application of financial terms?

• Cupcake Pi

• Bakery Bliss

• Sweet Treats

• Cupcake Delight

Who is the sole trader and founder of Cupcake Pi?

• Sid

• Sara

• John

• Mary

What is Sid's role at Cupcake Pi?

• Marketing Manager

• Finance Manager

• Master Baker

• Sales Manager

How much is Sid paid per year to produce the cupcakes?

• £15k

• £20k

• £25k

• £30k

What responsibilities does Sara have at Cupcake Pi?

• Producing cupcakes

• Looking after finances, sales, and marketing

• Customer service

• Delivery management

How much does Sara pay herself per year?

• £15k

• £20k

• £25k

• £30k

What is the definition of an accounting period?

• The timeframe of the set of accounts to be reported on.

• The total revenue generated in a year.

• The period when taxes are filed.

• The duration of a company's fiscal policy.

When does the financial year end for Cupcake Pi?

• 01/01/20XX

• 31/12/20XX

• 01/07/20XX

• 30/06/20XX