Quiz & Worksheet - Common Problems with Financial Information

question 1 of 3

The information found on the financial statements of a company that tells how good or bad a company is performing is called _____.

financial Information

financial statements

credits

debits

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Worksheet

Print Typical Problems with Financial Information Worksheet

1. A company's financial statements include an income statement, a statement of retained earnings, a statement of cash flows and a _____.

balance sheet
ledger
stock summary
payroll receipt

2. Ben, a company accountant, accidentally reported $5300 of earnings as $3500 on a company financial statement. Ben's mistake is an example of _____.

an error in judgment
disagreement in judgment
a reporting error
fraudulent financial reporting

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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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The information found on the financial statements of a company that tells how good or bad a company is performing is called _____.

Already registered? Log in here for access

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 _____.

About This Quiz & Worksheet

Quiz & Worksheet Goals

Skills Practiced

Additional Learning

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