Podcast
Questions and Answers
Which of the following is a reason why financial statements are read by comparing the results to competitors or other industry participants?
Which of the following is a reason why financial statements are read by comparing the results to competitors or other industry participants?
- To determine a company's health
- To understand changes over time
- To compare income statements
- To identify the best performing companies (correct)
What type of financial statement reports a company's income for a specific period of time?
What type of financial statement reports a company's income for a specific period of time?
- Comparative income statement (correct)
- Statement of retained earnings
- Cash flow statement
- Balance sheet
How can financial statements be read to better understand changes over time?
How can financial statements be read to better understand changes over time?
- By comparing the results to competitors
- By comparing the results to prior periods (correct)
- By comparing the balance sheets
- By comparing the income statements
How can financial statements be read to determine a company's health?
How can financial statements be read to determine a company's health?
Which financial statement can be used to compare a company's income from one year to another?
Which financial statement can be used to compare a company's income from one year to another?
What is one way financial statements can be read to better understand changes over time?
What is one way financial statements can be read to better understand changes over time?
What is one way financial statements can be read to compare a company's performance to its competitors?
What is one way financial statements can be read to compare a company's performance to its competitors?
Which of the following is NOT a way to read financial statements?
Which of the following is NOT a way to read financial statements?
Why is it important to compare financial statements to prior periods?
Why is it important to compare financial statements to prior periods?
Which of the following is NOT a type of financial statement?
Which of the following is NOT a type of financial statement?
