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- Multiple ChoicePlease save your changes before editing any questions.
What is the best definition of a Financial Statement?
Written records that display the financial performance of a company
Stock price
Name of a company
Cash flow statement
- Multiple ChoicePlease save your changes before editing any questions.
Which of these is not an asset?
Car
Accounts Payable
Cash
Building
- Multiple ChoicePlease save your changes before editing any questions.
What is a liability?
What the company owes
What the company owns
- Multiple ChoicePlease save your changes before editing any questions.
What is the big equaiton
Assets = Liabilities + Equity
Liabilities + Assets = Equity
Equity + Assets = Equity
Assets + Equity + Liablities = 30
- Multiple ChoicePlease save your changes before editing any questions.
If I have 4000 in expenses and 5500 in revenue, what is my profit?
1650
1500
-1500
2000
- Multiple ChoicePlease save your changes before editing any questions.
What is the difference between a balance sheet and an income statement?
Balance sheet shows assets and liabilites and equity, and income statement shows net income
Balance sheet shows net income, while income statement shows assets and liabilites and equity
Balance sheet shows dividends of a stock and its price, while income statement shows the stock value
None of these answers
- Multiple ChoicePlease save your changes before editing any questions.
What is the calculation of Gross profit?
Assets - liabilites = Gross Profit
Revenue - expenses = Gross Profit
Revenue - Cost of Revenue = Gross Profit
Income - Expenses = Gross Profit
- Multiple ChoicePlease save your changes before editing any questions.Anything of value that is owned by the company (such as cash, accounts receivables, vehicles, etc.) are reported on the balance sheet and are referred to as _______________.assetsliabilitiesprofitincome
- Multiple ChoicePlease save your changes before editing any questions.Any amounts owed by a business and reported on the balance sheet are referred to as ________________.assetsliabilitiesprofitexpenses
- Multiple ChoicePlease save your changes before editing any questions.
Bonus: What did Facebook change their name to?
Metaverse
Bookface
Meta
Instabook