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Accounting 101: Financial Accounting14 chapters | 137 lessons | 13 flashcard sets
Typical Problems with Financial Information
1. A company's financial statements include an income statement, a statement of retained earnings, a statement of cash flows and a _____.
2. Ben, a company accountant, accidentally reported $5300 of earnings as $3500 on a company financial statement. Ben's mistake is an example of _____.
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About This Quiz & Worksheet
This quiz/worksheet combo helps you assess your understanding of financial information and problems that can arise with this kind of data.
Quiz & Worksheet Goals
Use this quiz and the accompanying worksheet to review the following topics from the lesson:
- Disagreements in Judgement
- Financial information
- Problems with financial information
- Fraudulent financial reporting
- Types of financial statements
Skills Practiced
- Reading comprehension - ensure that you draw the most important information from the related financial lesson
- Information recall - access the knowledge you have gained regarding common problems with financial information
- Interpreting information - verify that you can read information regarding fraudulent financial reporting and interpret it correctly
Additional Learning
To learn more about financial information, review the corresponding lesson titled Typical Problems with Financial Information. This lesson will help you:
- Define financial information
- Examine the purpose of financial statements
- Determine how reporting errors can occur
- Learn what Disagreements in Judgement are
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Lesson
1 in chapter 5 of the course:
- Typical Problems with Financial Information 5:24
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5:52
Next Lesson
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- Go to Internal Controls in Accounting
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