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