Understanding Financial Statements

3 Questions | Total Attempts: 84

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Finance Quizzes & Trivia

Follow-up to Understanding Financials training.


Questions and Answers
  • 1. 
    What is another name for an income statement?
    • A. 

      Tax Returns

    • B. 

      Balance Sheet

    • C. 

      Profit and Loss

    • D. 

      PFS

    • E. 

      Interims

  • 2. 
    What schedule is not included with a 1040 Personal Tax Return
    • A. 

      Schedule C-Sole Proprietorship

    • B. 

      Schedule F-Farming

    • C. 

      Schedule E-Supplemental Income & Loss

    • D. 

      Schedule K-1: Owner's Share

  • 3. 
    • A. 

      Assets, Liabilities, Net Worth

    • B. 

      Revenues, Expenses

    • C. 

      Liabilities, Revenues, Expenses

    • D. 

      Net Worth, Assets

    • E. 

      Revenues, Assets