Assess Your Financial Planning Skills
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Questions and Answers

Which financial statement shows the net worth of a business at a specific point in time?

  • Budget report
  • Income statement
  • Cash flow projection
  • Balance sheet (correct)

    • What is the purpose of a cash flow projection?

  • To evaluate the efficiency of operations
  • To show how much capital investment a business idea needs (correct)
  • To determine if a business is profitable
  • To match accounts in the financial statements through percentage change calculations

    • What does the ratio of gross profit to net sales measure?

  • The gain or return on the owner's equity or investment
  • The efficiency of operations
  • The capability of the enterprise to earn profits from their operations (correct)
  • The amount of debt owed to a creditor

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