Course Assignments
How Did You Perform? Introducing the Income Statement Quiz :Understanding Financial Statements: Company Performance (Fundamentals of Accounting Specialization) Answers 2025
1. What measurement question is answered by the income statement but NOT the balance sheet? ✅ How did you perform? ❌ What do you own? ❌ What do you know? ❌ What do you owe? Explanation:The income statement shows performance over time; balance sheet shows position. 2. Which statement shows what occurred during a period… <a href="https://codeshala.io/platform/coursera/course/understanding-financial-statements-company-performance-fundamentals-of-accounting-specialization/assignment/how-did-you-perform-introducing-the-income-statement-quiz-understanding-financial-statements-company-performance-fundamentals-of-accounting-specialization-answers-2025/" rel="bookmark"><span class="screen-reader-text">How Did You Perform? Introducing the Income Statement Quiz :Understanding Financial Statements: Company Performance (Fundamentals of Accounting Specialization) Answers 2025</span></a>
Finishing Out the Income Statement and Managing Cash Quiz :Understanding Financial Statements: Company Performance (Fundamentals of Accounting Specialization) Answers 2025
Question 1 What represents outlays of resources as part of normal operating activities? ❌ Liabilities ❌ Revenue ❌ Assets ✅ Expenses Explanation:Expenses are costs incurred during normal operations (wages, rent, utilities, etc.). Question 2 Expenses are associated with operating transactions that … ❌ Decrease company assets AND increase company liabilities ❌ Increase company liabilities ❌… <a href="https://codeshala.io/platform/coursera/course/understanding-financial-statements-company-performance-fundamentals-of-accounting-specialization/assignment/finishing-out-the-income-statement-and-managing-cash-quiz-understanding-financial-statements-company-performance-fundamentals-of-accounting-specialization-answers-2025/" rel="bookmark"><span class="screen-reader-text">Finishing Out the Income Statement and Managing Cash Quiz :Understanding Financial Statements: Company Performance (Fundamentals of Accounting Specialization) Answers 2025</span></a>
Final Elements of Financial Statements Quiz :Understanding Financial Statements: Company Performance (Fundamentals of Accounting Specialization) Answers 2025
1. Financial statement notes appear after cash flows. ✅ True ❌ FalseExplanation: Notes follow the main financial statements, usually after the cash flow statement. 2. FIFO cost assumption is disclosed where? ❌ Gross profit ✅ Note ❌ Net income ❌ Beginning of balance sheetExplanation: Accounting policies like FIFO are explained in the notes. 3. Some… <a href="https://codeshala.io/platform/coursera/course/understanding-financial-statements-company-performance-fundamentals-of-accounting-specialization/assignment/final-elements-of-financial-statements-quiz-understanding-financial-statements-company-performance-fundamentals-of-accounting-specialization-answers-2025/" rel="bookmark"><span class="screen-reader-text">Final Elements of Financial Statements Quiz :Understanding Financial Statements: Company Performance (Fundamentals of Accounting Specialization) Answers 2025</span></a>
Wrapping Up Financial Statements and What Lies Ahead Quiz :Understanding Financial Statements: Company Performance (Fundamentals of Accounting Specialization) Answers 2025
1. Comparing only net incomes gives a clear picture. ❌ True ✅ FalseExplanation: Net income alone ignores size, industry, assets, etc. 2. Ratio = Net income ÷ Average total assets ❌ Current ratio ✅ Return on assets ❌ Risk ratio ❌ EPSExplanation: ROA measures profitability from assets. 3. Profitability ratio showing net income per share?… <a href="https://codeshala.io/platform/coursera/course/understanding-financial-statements-company-performance-fundamentals-of-accounting-specialization/assignment/wrapping-up-financial-statements-and-what-lies-ahead-quiz-understanding-financial-statements-company-performance-fundamentals-of-accounting-specialization-answers-2025/" rel="bookmark"><span class="screen-reader-text">Wrapping Up Financial Statements and What Lies Ahead Quiz :Understanding Financial Statements: Company Performance (Fundamentals of Accounting Specialization) Answers 2025</span></a>