Financial Accounting for the Hospitality Industry

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Financial accounting prepares statements that share financial information with external stakeholders, such as investors, banks and regulatory bodies. Which statement shares a company's revenues and expenses?

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1. Investors may choose to evaluate the financial statements for trends or concerns about financial health. Which of the following answers identify the ratio and the statement that contains that information?

2. If the ending balance on the statement of cash flow is less than the beginning balance, which situation is most likely?

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About This Quiz & Worksheet

The quiz and worksheet help you gauge your knowledge of financial accounting in the hospitality industry. For the quiz, you need to know about the Statement of Cash Flows and the Balance Sheet.

Quiz & Worksheet Goals

You can test your knowledge of:

  • Determining an owner's equity given assets and liabilities
  • Statement that shows a company's revenues and expenses
  • Statement about trends or concerns about financial health
  • The Balance Sheet

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about different financial statements
  • Information recall - access the knowledge you have gained about how to determine an owner's equity
  • Reading comprehension - ensure that you draw the most important details from the lesson on financial accounting in hospitality

Additional Learning

You can review more material quickly using the lesson called Financial Accounting for the Hospitality Industry. You can learn more about:

  • Parts of a Balance Sheet
  • The purpose of a Statement of Cash Flows
  • Examples of finding an owner's equity
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