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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 do the footnotes to financial statements typically provide?
2. What is the final line of the statement of operations?
3. How do you calculate the Quick Ratio?
4. Cost of Goods Sold is calculated using which of the following?
5. Which of the following does NOT increase cash flows?
6. What are the two basic formats of the Income Statement?
7. What is an example of a liability?
8. When goods have been sold but not paid for
9. Which corporate officers must certify the accuracy of financial statements?
10. What is GAAP
11. Which of the following is NOT a method of calculating depreciation?
12. If you needed to replace machinery at your company
13. SOX stands for:
14. What equation is used when calculating the statement of retained earnings?
15. Which of the following activities would be regarded as a financing activity on the Statement of Cash Flows?
16. What does the statement of retained earnings tell you about a company's position?
17. The income statement is also called what?
18. Which of the following would be reported as a cash inflow from investing activities?
19. Income from Operations is equal to Gross Profit less:
20. How is the return on assets calculated?
21. Analysis of risk has what intention?
22. Which of the following is NOT one of the four basic financial statements?
23. How are retained earnings calculated?
24. Where would an entry be made for the purchase of goods or services without a contract or note?
25. On a balance sheet

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