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.
Financial Statements MCQs FAQs
Financial Statements are a collection of financial reports that summarize an organization's financial position and results, as well as its Cash Flows. These include the income statement, balance sheet, and statement of Cash Flows.
Income statement, balance sheet, and statement of Cash Flows are Financial Statements that must be prepared by all publicly traded companies. These three statements can provide key information about a company's financial strength and underlying value.
Information must be reliable, unbiased, and mostly free of errors.
A capital gain is the amount by which the selling price of a capital asset exceeds its purchase price.
An Interim Dividend is a dividend paid before tax records are filed. If a company pays an Interim Dividend, its taxable income is deemed to be zero for part of the year.
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.