Financial Statements Quiz

Find words and expressions in the text we just read with the following meanings: An amount of money that is owed but probably won’t be paid.

Find words and expressions in the text we just read with the following meanings: The accounting value of a company (assets minus liabilities).

Find words and expressions in the text we just read with the following meanings: The historical cost of an asset minus depreciation charges.

Find words and expressions in the text we just read with the following meanings: The amount a company pays for another one, in excess of the net value of its assets.

Find words and expressions in the text we just read with the following meanings: Products that are not complete or ready for sale.

Find words and expressions in the text we just read with the following meanings: The amount of money owed by customers who have bought goods but not yet paid for them.

A company’s accrued expenses are like money an individual saves to pay bills in the future. Find reasons for your answers in the text.

• True

• False

Companies can sell shares at a higher value than the one stated on them. Find reasons for your answers in the text.

• True

• False

Find words in the text with the following meanings: _built up or increased over a period of time.

Does the $ amount of assets equal to the $ amount of liabilities? What is the net worth of this company?