Review- Financial Statements Quiz

Review- Financial Statements Quiz

9th Grade

34 Qs

quiz-placeholder

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Review- Financial Statements Quiz

Review- Financial Statements Quiz

Assessment

Quiz

Financial Education

9th Grade

Practice Problem

Medium

Created by

Jasmin Amparo

Used 4+ times

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34 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the accounting reports that provide financial information of transactions of the business that have been recorded and summarized?

Financial Statements

Balance Sheet

Statement of Owner’s Equity

Statement of Cash Flows

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is this financial document that summarizes the items affecting the capital account of the business?

Statement of Owner’s Equity

Balance Sheet

Statement of Owner’s Equity

Profit and Loss Statement

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What financial statement gives investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders?

Balance Sheet

Statement of Owner’s Equity

Statement of Cash Flows

Income Statement

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What document contains a summary of the owner’s investments?

Statement of Owner’s Equity

Balance Sheet

Statement of Cash Flows

Income Statement

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following items would be classified as an investing activity on the statement of cash flows?

Purchasing property and equipment

Payment for salaries, cash received from sale of goods

Proceeds from bank loan

Payment for taxes

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which among the following items should NOT be included in the operating activities on the statement of cash flows?

Buying of production equipment

Payment for salaries

Received cash from customers

Payment for supplies

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a cashflow forecast suggests that a firm will run out of cash, which would help the problem?

Delay paying suppliers

Pay suppliers immediately

Repay a bank loan

Purchase more fixed assets

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