Understanding Financial Statements Quiz

Understanding Financial Statements Quiz

Assessment

Assessment

Created by

Sherwin T Natividad

Other

11th Grade

3 plays

Hard

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10 questions

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1.

MULTIPLE CHOICE

30 sec • 1 pt

Which financial statement shows the result of operations, indicating either a net income or net loss?

2.

MULTIPLE CHOICE

30 sec • 1 pt

What accounts are typically found on the Balance Sheet?

3.

MULTIPLE CHOICE

30 sec • 1 pt

Which statement provides information about the changes in the capital account over a specific accounting period?

4.

MULTIPLE CHOICE

30 sec • 1 pt

In the Statement of Cash Flows, which activities are categorized to show money inflow and outflow?

5.

MULTIPLE CHOICE

30 sec • 1 pt

Which account is not typically found on the Income Statement?

6.

MULTIPLE CHOICE

30 sec • 1 pt

What does the Balance Sheet primarily show about a business?

7.

MULTIPLE CHOICE

30 sec • 1 pt

Which of the following is an account you would find in the Statement of Changes in Owner’s Equity?

8.

MULTIPLE CHOICE

30 sec • 1 pt

What is the primary purpose of the Statement of Cash Flows?

9.

MULTIPLE CHOICE

30 sec • 1 pt

Which account is not typically found in the Statement of Changes in Owner’s Equity?

10.

MULTIPLE CHOICE

30 sec • 1 pt

What does the Income Statement primarily report?

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