Financial Statements MCQs

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 26, 2023

Take this quick multiple choice question (MCQs) test about financial statements. These MCQs will help you to prepare for your exams, interviews, and other assessments. Just click the "Start quiz" button to begin the quiz.

If you find it difficult to answer any of these questions, check out the article on financial statements from our website's explanation section.

1. The profit earned prior to the date of incorporation is known as:
2. The dividend paid to shareholders during the financial year is called:
3. Dividends are calculated based on:
4. The credit balance of a retained earnings statement represents:
5. Selling expenses between the post- and pre-incorporation periods is divided on the basis of:
6. Carriage inwards is allocated between the pre- and post-incorporation periods on the basis of:
7. Losses sustained prior to the date of incorporation of a corporation are known as:
8. When is an interim dividend paid?
9. An unclaimed dividend is shown as:
10. When a dividend is paid, the debit is made to:

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About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.