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Quiz
1
Beginner
How many links do there need to be between the financial statements?
As many items as there are in the Income Statement and Cash Flow Statement
Three
Two
Don’t know
2
Beginner
Which of the following Balance Sheet items are not linked to the other financial statements?
Accounts Receivable
Cash
Retained Profits
Don’t know
3
Beginner
Why do we complete the Income Statement first?
Because it is the smallest statement (has the least number of lines)
Because it is the conceptually smallest statement
Because it is the most important financial statement
Don’t know
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