1 / 1 ptsQues±on 4A company's financial posi±on wouldbestbe evaluated by using the:balance sheetCorrect!Correct!
income statementstatement of cash flowsThe balance sheet portrays financial posi±on. The other two roles portray financialperformance.0 / 1 ptsQues±on 5A company's profitability for a period would best be evaluated using the:Correct AnswerCorrect Answer
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balance sheetYou AnsweredYou Answeredstatement of cash flowsProfitability is the performance aspect measured by the income statement.1 / 1 ptsQues±on 6The financial statement that presents a shareholder's residual claim on assets is the:Correct!Correct!
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income statementcash flow statementOwenr's equity is the owners' residual interest on the company's asset a³er deduc±ngliabili±es.Assets = Liabili±es + Owner's Equity1 / 1 ptsQues±on 7A company's profitability over a period of ±me is best evaluated using the:Correct!Correct!
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balance sheetstatement of cash flowsThe income statement presents informa±on on the financial results of a company'sbusiness ac±vi±es over a period of ±me (e.g., revenue and expenses)1 / 1 ptsQues±on 8The income statement is best used to evaluate a compan'y's:sources of cash flowfinancial results from business ac±vi±esCorrect!Correct!financial posi±onRevenues and expenses are presented on the income statement which is used toevaluate a firm's financial results (or profitability or performance) from business ac±vi±esover ±me. Financial posi±on is from balance sheet and cash sources come from cashflow statement.
