FIN533 : CHAPTER 2 - FINANCIAL STATEMENTS AND BUDGETING
Authored by Iman Assyaakirin
Business
University
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. A balance sheet is also known as:
1. A balance sheet is also known as:
A. Cash Flow Report
B. Net Worth Statement
C. Income Statement
D. Budget Plan
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2. The formula for Net Worth is:
A. Assets + Liabilities
B. Liabilities - Assets
C. Assets - Liabilities
D. Income - Expenses
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3. Which of the following is NOT a liquid assets?
3. Which of the following is NOT a liquid assets?
A. Savings account
B. Cash in hand
C. Real estate
D. Stocks
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
4. A Cash Flow Statement is also called a:
4. A Cash Flow Statement is also called a:
A. Net Worth Report
B. Statement of Liabilities
C. Statement of Assets
D. Income & Expenditure Statement
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
5. When expenses are higher than income, the result is:
A. Surplus
B. Deficit
C. Profit
D. Balance
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
6. The main purpose of budgeting is to:
6. The main purpose of budgeting is to:
A. Calculate net worth
B. Control and plan spending
C. Reduce liabilities
D. Prepare tax forms
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
7. Which of the following is a current liability?
7. Which of the following is a current liability?
A. 15-year mortgage loan
B. Fixed deposit
C. Investment in shares
D. Outstanding credit card bill
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