Adventis Financial Modeling Level 1
Certification Exam 2026 Questions and
Answers
Income Statement - Correct answer-Presents the results of operations over a period
of time, typically monthly, quarterly and/or annually
Income Statement - Correct answer-The purpose is to show stakeholders whether
the company made or lost money during the period being reported, and it indicates
how revenues are transformed into net income
Income Statement - Correct answer-Displays revenues recognized for a specific
period of time and the expenses charged against those revenues
Revenue (Sales) - Correct answer-The amount charged for the delivery of goods or
services
Cost of Sales (Cost of Goods Sold) - Correct answer-The direct cost of producing
revenue (raw materials, direct wages, etc.)
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, Gross Profit - Correct answer-calculated as revenue less cost of sales and indicates
how efficiently labor and supplies are used in the production process
Operating Expenses - Correct answer-All other expenses required to run the
business (management salaries, marketing, travel, etc.)
Operating Income (EBIT) - Correct answer-Calculated as revenue less cost of sales
and operating expenses and indicates a company's earning power from ongoing
operations
Non-Operating Expenses - Correct answer-Expenses or income not related to the
regular business of the company (interest expense, restructuring expenses, etc.)
Corporate Taxes - Correct answer-Local and federal income taxes the company
incurs
Net Income (Net Earnings) - Correct answer-Calculated as revenue less all
expenses of the company and indicates the increase in shareholders' value resulting
from operations
Balance Sheet - Correct answer-Shows and organization's financial position at a
particular point in time
Balance Sheet - Correct answer-Discloses the resources an organization controls
(assets) and the claims on those resources (liabilities and equity)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Certification Exam 2026 Questions and
Answers
Income Statement - Correct answer-Presents the results of operations over a period
of time, typically monthly, quarterly and/or annually
Income Statement - Correct answer-The purpose is to show stakeholders whether
the company made or lost money during the period being reported, and it indicates
how revenues are transformed into net income
Income Statement - Correct answer-Displays revenues recognized for a specific
period of time and the expenses charged against those revenues
Revenue (Sales) - Correct answer-The amount charged for the delivery of goods or
services
Cost of Sales (Cost of Goods Sold) - Correct answer-The direct cost of producing
revenue (raw materials, direct wages, etc.)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Gross Profit - Correct answer-calculated as revenue less cost of sales and indicates
how efficiently labor and supplies are used in the production process
Operating Expenses - Correct answer-All other expenses required to run the
business (management salaries, marketing, travel, etc.)
Operating Income (EBIT) - Correct answer-Calculated as revenue less cost of sales
and operating expenses and indicates a company's earning power from ongoing
operations
Non-Operating Expenses - Correct answer-Expenses or income not related to the
regular business of the company (interest expense, restructuring expenses, etc.)
Corporate Taxes - Correct answer-Local and federal income taxes the company
incurs
Net Income (Net Earnings) - Correct answer-Calculated as revenue less all
expenses of the company and indicates the increase in shareholders' value resulting
from operations
Balance Sheet - Correct answer-Shows and organization's financial position at a
particular point in time
Balance Sheet - Correct answer-Discloses the resources an organization controls
(assets) and the claims on those resources (liabilities and equity)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
