Quiz: Review your firm's financials

This is a true/false quiz.

Click the statement to see the answer.

1. The Balance Sheet, Profit and Loss Statement, and Statement of Cash Flows can be used as an important part of evaluating your firm's financial situation.

   True. 

2. You can use the Balance Sheet to review the basic financial position of your company, in a cash basis only.

   False. You can print it for a cash or accrual accounting basis.

3. You can use the Profit and Loss Statement to help you evaluate your profitability and make adjustments as needed.

   True.

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