INTUIT ACADEMY EXAMINING
FINANCIAL STATEMENTS. EXAM
2025/2026 QUESTIONS AND ANSWERS
100% PASS
A set of reports that show how a business is performing financially and all business activities
related to running the business. - ANS Financial Statements
A financial statement that reports a business's assets, liabilities, and equity at a specific point in
time. - ANS Balance sheet
Also called the profit and loss (P&L) statement, it shows the business's revenues and expenses
during a particular period. - ANS Income statement
Reports the sources and uses of cash by a business. - ANS Statements of cash flows
Reports the changes in a business's equity, from the opening balance to the end of the period
balance. - ANS Statement of equity
Revenue - ANS Which area of an income statement can indicate a good marketing or sales
process but doesn't necessarily mean the business is profitable?
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
FINANCIAL STATEMENTS. EXAM
2025/2026 QUESTIONS AND ANSWERS
100% PASS
A set of reports that show how a business is performing financially and all business activities
related to running the business. - ANS Financial Statements
A financial statement that reports a business's assets, liabilities, and equity at a specific point in
time. - ANS Balance sheet
Also called the profit and loss (P&L) statement, it shows the business's revenues and expenses
during a particular period. - ANS Income statement
Reports the sources and uses of cash by a business. - ANS Statements of cash flows
Reports the changes in a business's equity, from the opening balance to the end of the period
balance. - ANS Statement of equity
Revenue - ANS Which area of an income statement can indicate a good marketing or sales
process but doesn't necessarily mean the business is profitable?
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED