Adventis FMC with correct answers
2025
what do financial statements communicate? - CORRECT ANSWER-fin condition,
results of operation, and other activities of an organization
how does the board of directors use financial statments? - CORRECT ANSWER-hold
management accountable and make board level decisions about corporte strategy
how does company management use financial statments? - CORRECT ANSWER-
measures performance and makes strategic, operational and financial decisions
how do creditors use fin statements? - CORRECT ANSWER-measure creditworthiness,
liquidity, and bankruptcy risk
how do investors use fin statements? - CORRECT ANSWER-make buy or sell
decisions on equity investments
how do acquirers use fin statements? - CORRECT ANSWER-determine valuation and
make investment decisions
how do regulators use fin statements? - CORRECT ANSWER-determine whether the
company is operating according to regulation and the law
Income Statement - CORRECT ANSWER-a financial statement that gives operating
results for a specific period
revenues - costs = NI
Revenues (sales) - CORRECT ANSWER-the amount charged for delivery of services of
goods
cost of goods sold - CORRECT ANSWER-direct cost of producing revenue
Gross Profit - CORRECT ANSWER-Revenue - COGS
indicates how efficiently labor and supplies is being used in production
operating expenses - CORRECT ANSWER-all other expenses required to run the
business
2025
what do financial statements communicate? - CORRECT ANSWER-fin condition,
results of operation, and other activities of an organization
how does the board of directors use financial statments? - CORRECT ANSWER-hold
management accountable and make board level decisions about corporte strategy
how does company management use financial statments? - CORRECT ANSWER-
measures performance and makes strategic, operational and financial decisions
how do creditors use fin statements? - CORRECT ANSWER-measure creditworthiness,
liquidity, and bankruptcy risk
how do investors use fin statements? - CORRECT ANSWER-make buy or sell
decisions on equity investments
how do acquirers use fin statements? - CORRECT ANSWER-determine valuation and
make investment decisions
how do regulators use fin statements? - CORRECT ANSWER-determine whether the
company is operating according to regulation and the law
Income Statement - CORRECT ANSWER-a financial statement that gives operating
results for a specific period
revenues - costs = NI
Revenues (sales) - CORRECT ANSWER-the amount charged for delivery of services of
goods
cost of goods sold - CORRECT ANSWER-direct cost of producing revenue
Gross Profit - CORRECT ANSWER-Revenue - COGS
indicates how efficiently labor and supplies is being used in production
operating expenses - CORRECT ANSWER-all other expenses required to run the
business
