Financial Statement Test

Q1. What is the financial document that presents the success or the failure of a business deal in a matter of time called?

Cash flow statement

Bank statement

Income statement

Retained earning statement

Q2. What is the primary source of revenue for a wholesaler?

Income from investments

Fixed asset sale of a company

Merchandise sale

Service fee

Q3. Choose the fixed asset among the options provided which would not depreciate?

Land

Machinery

Buildings

Equipment

Q4. Which financial statement is used to summarise the assets, liabilities, and equity of the owner of a company?

Worksheet

Balance sheet

General ledger

Cash flow statement

Q5. Which report in a company shows the total profit on the save of their goods and services?

B and C

Income statement

Trading and profit and loss account

Cash flow statement

Q6. What is the most expensive and the largest single merchandising in a company?

Salary costs

Cost of sold goods

Rent

Amortization expenses

Q7. What would you get if you subtract or expenses from revenue yields?

The carrying value

Net liabilities

Net profit and loss

Long term assets

Q8. Which financial statement is used to summarize company revenue and expenses?

Balance sheet

Cash flow statement

Income statement

Owner equity statement

Q9. Which financial statement records everything the business owns and what the business owes?

Business bank statement

Retained earnings statement

A balance sheet

Cash flow statement

Q10. One of these financial statements is also called financial condition:

Income statement

Balance sheet

Cash flow statement

Bank statement

Your Score

- of - questions are answered correctly

DCA 1 Year Programme

For Support

Office Hours

We are on

Company

Customer Service

Help

Financial Statement

Your Score

- of - questions are answered correctly

Login to view answer sheet

FORGOT PASSWORD

SIGN UP

Email Verification

DCA 1 Year Programme

For Support

Office Hours

We are on

Company

Customer Service

Help