Back to lesson
1. What order do we build the financial statements in?
Income Statement, Balance Sheet then Cash Flow Statement
Income Statement, Cash Flow Statement then Balance Sheet
Balance Sheet, Cash Flow Statement then Income Statement
2. What is the role of the error checks in the financial statements?
To ensure that the Balance Sheet always balances
To ensure that the Opening Balance Sheet balances
To ensure that our calculations are correct
3. How do we bring items into the financial statements?
Complete calculations if necessary, link the results into the financial statements, then build a control account to check if it balances
Complete calculations and link the results to the financial statements
Complete calculations if necessary, build a control account, place control account line items into the financial statements, then check if it balances
Back to the top
© 2017 GoSkills Ltd.
Skills for career advancement