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