Pro Forma Financial Statements & Project Cash Flows


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question 1 of 3

Which of the following is true about pro-forma financial statements?

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1. Which is true about the balance sheet?

2. Which statement is true about the income statement?

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About This Quiz & Worksheet

Pro-forma financial statements are necessary for determining the stability and profitability of companies. On the quiz you'll be asked about what information appears on certain statements, and you will need to explain some of the key indicators used to gauge an organization's financial health.

Quiz & Worksheet Goals

For these materials you will:

  • Choose the best answer from a series of sentences describing pro-forma financial statements
  • Select an untrue statement about the balance sheet
  • Identify a true aspect of the income statement
  • Understand what an operating activity is from the statement of cash flow
  • Explain cost of goods sold

Skills Practiced

  • Reading comprehension - ensure that you pull the most useful information from the lesson on pro-forma financial statements
  • Defining key concepts - ensure that you can accurately define basic components of the balance sheet and statement of cash flow
  • Information recall - access what you know about cost of goods sold and operating activities to correctly answer quiz questions

Additional Learning

Increase your understanding of this topic by studying the lesson called Pro Forma Financial Statements & Project Cash Flows. The lesson is centered on these objectives:

  • Understand the role of GAAP
  • Note the differences between assets, liabilities and owner's equity on the balance sheet
  • Describe revenues and expenses
  • Know the three main components of the statement of cash flow