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Corporate Accounting

Quiz by Swetha Priya

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7 questions
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  • Q1
    What is the purpose of the income statement?
    To disclose a company's assets and liabilities
    To calculate a company's dividend yield
    To report a company's financial performance over a specific period
    To determine the fair value of a company's stock
    30s
  • Q2
    What are fixed assets?
    Intangible assets like patents and trademarks
    Long-term tangible assets used in business operations
    Current liabilities of a company
    Short-term financial investments
    30s
  • Q3
    What is the purpose of the statement of cash flows?
    To determine a company's market share
    To provide information about a company's cash inflows and outflows
    To estimate a company's future sales
    To calculate a company's net income
    30s
  • Q4
    What is the purpose of the balance sheet?
    To project a company's future revenue
    To evaluate a company's return on investment
    To present a snapshot of a company's financial position at a specific point in time
    To determine a company's market share
    30s
  • Q5
    What is the purpose of the statement of retained earnings?
    To report a company's inventory turnover
    To track changes in a company's retained earnings over a specific period
    To disclose a company's long-term debt
    To calculate a company's net income
    30s
  • Q6
    What is the purpose of the statement of changes in equity?
    To summarize the changes in a company's equity during a specific period
    To determine a company's cost of goods sold
    To report a company's cash flow from operating activities
    To calculate a company's net profit margin
    30s
  • Q7
    What is the purpose of the accounts receivable aging report?
    To track the outstanding customer payments and their due dates
    To determine a company's return on assets
    To report a company's cash inflows from financing activities
    To calculate the depreciation expense for fixed assets
    30s

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