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PoB 6.00 Financial Analysis
Test Description: 6.00 Financial analysis
Instructions: Answer all questions to get your test result.
1) When businesses invest funds to expand, they are involved in the process of:
A
selling
B
finance
C
capitalism
D
depreciation
2) Assets a company already owns and can use to finance a new venture are called:
A
accounts payable
B
return on capital
C
equity
D
dividends
3) The role of finance in business often involves:
A
paying employees
B
obtaining funds
C
monitoring expenses
D
buying supplies
4) Businesses use the information collected through the accounting process to prepare accurate:
A
balance sheets
B
promissory notes
C
purchase orders
D
inventory forms
5) One of the main reasons why businesses need to keep accurate accounting records is to:
A
follow procedures
B
control expenses
C
regulate taxes
D
eliminate risks
6) Businesses would not be able to determine if they are meeting their financial goals without accurate:
A
accounting systems
B
distribution systems
C
production plans
D
marketing plans
7) a series of activities that begins with a transaction and ends with the closing of the books is a ...
A
Balance sheet
B
Statement of retained earnings
C
accounting cycle
D
Income statement
8) Which of these is prepared from the assets, liabilities, and equity accounts?
A
Income statement
B
Balance sheet
C
accounting cycle
D
Statement of retained earnings
9) Which of these is prepared from the revenue, expenses, gains, and losses?
A
Statement of retained earnings
B
Balance sheet
C
accounting cycle
D
Income statement
10) Which is prepared from net income and dividend information?
A
accounting cycle
B
Balance sheet
C
Income statement
D
Statement of retained earnings
*select an answer for all questions
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