Financial Statements Quiz

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Accounts and statements basics

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Marisela Santiago Castro

Puerto Rico

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Froggy Jumps Financial Statements QuizOnline version Accounts and statements basics by Marisela Santiago Castro 1 Which financial statement reports a company’s assets, liabilities, and equity at a point in time? a Cash flow statement b Balance sheet c Income statement 2 What does the income statement primarily show for a period? a Asset levels over time b Cash balances during the period c Revenues minus expenses = net income 3 Which item is a current asset most likely to include? a Goodwill b Accounts receivable c Owner's equity 4 Dividends are: a Expenses b Distributions to owners c Liabilities 5 Which financial statement explains changes in cash over a period? a Statement of retained earnings b Balance sheet c Cash flow statement 6 Accounts payable are what type of financial statement item? a Asset b Revenue c Liability 7 Retained earnings appear on which financial statement? a Income statement b Balance sheet (as part of equity) c Cash flow statement 8 Which measure indicates liquidity and short-term financial health? a Net income b Working capital c Equity capital 9 Which equation represents the basic accounting equation? a Assets + Liabilities = Equity b Revenues − Expenses = Net income c Assets = Liabilities + Equity 10 Which item would NOT appear on the cash flow from financing activities? a Payment for equipment purchase b Issuance of common stock c Proceeds from a loan

Froggy Jumps

Financial Statements QuizOnline version

Accounts and statements basics

by Marisela Santiago Castro

Which financial statement reports a company’s assets, liabilities, and equity at a point in time?

Cash flow statement

Balance sheet

Income statement

What does the income statement primarily show for a period?

Asset levels over time

Cash balances during the period

Revenues minus expenses = net income

Which item is a current asset most likely to include?

Goodwill

Accounts receivable

Owner's equity

Dividends are:

Expenses

Distributions to owners

Liabilities

Which financial statement explains changes in cash over a period?

Statement of retained earnings

Balance sheet

Cash flow statement

Accounts payable are what type of financial statement item?

Asset

Revenue

Liability

Retained earnings appear on which financial statement?

Income statement

Balance sheet (as part of equity)

Cash flow statement

Which measure indicates liquidity and short-term financial health?

Net income

Working capital

Equity capital

Which equation represents the basic accounting equation?

Assets + Liabilities = Equity

Revenues − Expenses = Net income

Assets = Liabilities + Equity

Which item would NOT appear on the cash flow from financing activities?

Payment for equipment purchase

Issuance of common stock

Proceeds from a loan

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Financial Statements Quiz

Froggy Jumps

About this activity

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Download the paper version to play

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Financial Statements QuizOnline version

by Marisela Santiago Castro

Which financial statement reports a company’s assets, liabilities, and equity at a point in time?

What does the income statement primarily show for a period?

Which item is a current asset most likely to include?

Dividends are:

Which financial statement explains changes in cash over a period?

Accounts payable are what type of financial statement item?

Retained earnings appear on which financial statement?

Which measure indicates liquidity and short-term financial health?

Which equation represents the basic accounting equation?

Which item would NOT appear on the cash flow from financing activities?

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