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Financial Statements Fundamentals Test (Upwork)
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Financial Statements Fundamentals Test (Upwork)
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25 Questions

1. What is GAAP
2. Current assets are assets that are intended to be converted into cash or consumed within:
3. What is the final line of the statement of operations?
4. Almost all financial statements use what form of accounting?
5. What information is found on the Balance Sheet?
6. All are Profitability Ratios
7. Two figures must be transferred to the balance sheet before the final result can be calculated. What are they
8. Which item does not depreciate?
9. What does the statement of retained earnings tell you about a company's position?
10. What are revenues?
11. What's the difference between a Capital lease and an Operational lease?
12. What is Goodwill?
13. Which of the following is not an element included in the statement of retained earnings?
14. Which of the following would be reported as a cash inflow from investing activities?
15. On which Financial Statement(s) are Discontinued Operations reported?
16. On a balance sheet
17. What does it mean when a company's change in cash is negative?
18. Which value appears on all three components of financial statements?
19. Which two line items are used to calculate Working Capital?
20. A measure of the overall efficiency of asset utilization is the:
21. What agency does a publicly traded company file with if they sell stock?
22. What is the overall objective of using ratio analysis?
23. Which items are traditionally disclosed separately on an Income Statement?
24. What four components are contained in a financial statement?
25. What is the objective of financial statement analysis?

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