Income Statement

Balance Sheet

Cash Flow Statement

Profit and Loss Statement

To show the movement of cash in and out of a company

To show the profitability of a company

To show the assets and liabilities of a company

To show the revenues and expenses of a company

Revenue is the money a company earns from its operations, while profit is the money a company has left after paying all of its expenses

Revenue is the money a company earns from its investments, while profit is the money a company has left after paying all of its expenses

Revenue is the money a company earns from its sales, while profit is the money a company has left after paying all of its expenses

Revenue is the money a company earns from its assets, while profit is the money a company has left after paying all of its expenses

To show the assets, liabilities, and equity of a company

To show the profitability of a company

To show the cash flow of a company

To show the revenues and expenses of a company

An asset is something that a company owns, while a liability is something that a company owes

An asset is something that a company uses to generate revenue, while a liability is something that a company uses to pay for expenses

An asset is something that a company has control over, while a liability is something that a company does not have control over

An asset is something that a company can sell, while a liability is something that a company cannot sell

To show the revenues and expenses of a company over a period of time

To show the profitability of a company

To show the cash flow of a company

To show the assets, liabilities, and equity of a company

A cost is something that a company pays for, while an expense is something that a company uses to generate revenue

A cost is something that a company uses to generate revenue, while an expense is something that a company pays for

A cost is something that a company has control over, while an expense is something that a company does not have control over

A cost is something that a company can sell, while an expense is something that a company cannot sell

To help a company plan its financial future

To help a company track its financial performance

To help a company control its costs

All of the above

A fixed cost is a cost that does not change with the level of production, while a variable cost is a cost that changes with the level of production

A fixed cost is a cost that changes with the level of production, while a variable cost is a cost that does not change with the level of production

A fixed cost is a cost that a company has control over, while a variable cost is a cost that a company does not have control over

A fixed cost is a cost that a company can sell, while a variable cost is a cost that a company cannot sell

To help a company compare its financial performance to that of other companies

To help a company identify trends in its financial performance

To help a company make better financial decisions

All of the above

A current asset is an asset that can be converted into cash within one year, while a non-current asset is an asset that cannot be converted into cash within one year

A current asset is an asset that is used in the day-to-day operations of a company, while a non-current asset is an asset that is not used in the day-to-day operations of a company

A current asset is an asset that a company has control over, while a non-current asset is an asset that a company does not have control over

A current asset is an asset that a company can sell, while a non-current asset is an asset that a company cannot sell

A current liability is a liability that must be paid within one year, while a non-current liability is a liability that does not have to be paid within one year

A current liability is a liability that is used in the day-to-day operations of a company, while a non-current liability is a liability that is not used in the day-to-day operations of a company

A current liability is a liability that a company has control over, while a non-current liability is a liability that a company does not have control over

A current liability is a liability that a company can sell, while a non-current liability is a liability that a company cannot sell

To provide an independent opinion on the fairness of a company's financial statements

To help a company identify and correct errors in its financial statements

To help a company improve its internal controls

All of the above

A public company is a company that is owned by the government, while a private company is a company that is owned by individuals or a small group of investors

A public company is a company that is listed on a stock exchange, while a private company is a company that is not listed on a stock exchange

A public company is a company that has a large number of shareholders, while a private company is a company that has a small number of shareholders

All of the above