Quiz 6
(1) What is the primary purpose of accounting?
a. Analyzing financial markets
b. Conducting audits
c. Managing financial statements
d. Recording financial transactions
(2) Which financial statement reports a company's assets, liabilities, and shareholder equity as of a specific date?
a. Income statement
b. Cash flow statement
c. Balance sheet
d. Statement of equity
(3) What is the primary function of the income statement?
a. Report a company's financial position
b. Summarize cash flows
c. Analyze market pricing
d. Record financial performance over a specific period
(4) What is the purpose of financial markets?
a. Issuing financial statements
b. Conducting internal audits
c. Facilitating the trading of securities
d. Recording financial transactions
(5) What is the primary purpose of an external audit?
a. Make improvements to processes
b. Evaluate financial statements independently
c. Ensure compliance with tax regulations
d. Assess company's internal controls
Méthode d'évaluation : Note la plus haute