T1 BASIC FINANCIAL ACCOUNTING QUIZ WITH CORRECT ANSWERS [ GRADED A+]

T1 BASIC FINANCIAL ACCOUNTING QUIZ

WITH CORRECT ANSWERS [ GRADED A+]




10-K - ✔✔Annual report filed with the SEC showing a company's full-year

financial performance.




10-Q - ✔✔Quarterly report filed with the SEC detailing the company's

financials for that period.




8-K - ✔✔Filed when a company announces major events like M&A, leadership

changes, or bankruptcies.




S-1 - ✔✔Document filed when a company plans to go public; contains IPO-

related disclosures.




©morren 2025/2026. Year published 2026.

, Income Statement - ✔✔Financial report showing a company's revenues and

expenses over a period of time.




Revenue - ✔✔Total income earned from selling goods or services.




Cost of Goods Sold (COGS) - ✔✔Direct costs of producing or procuring products

sold.




Gross Profit - ✔✔Revenue minus COGS.




SG&A - ✔✔Operating expenses not directly tied to production, like marketing

and admin.




R&D - ✔✔Expenses related to the development of new products or services.




EBITDA - ✔✔Earnings before interest, taxes, depreciation, and amortization.




©morren 2025/2026. Year published 2026.