Question

1) Which of the following financial statements provides a snapshot view of the firm at a given point in time?

A) Income Statement

B) Both B and D                      

C) Cash Flow Statement    

D) Balance Sheet

2) Which of the following are non-financial claims?

A) Both pension obligations and taxes payable

B)Taxes payable                                                        

C)Pension obligations

D)Notes payable

3) A bond feature that allows an investor to exchange debt for shares of common stock is called a   

A) Putability feature

B)Sinking fund feature

C)Convertibility feature

D)Callability feature      

  

Answer 1

1)

Correct Answer is Option D - Balance Sheet

A balance sheet reports a company's assets, liabilities, and shareholders' equity at a given point in time.

Income Statement and Cash Flow Statement represent financial performance for a given period i.e 3 months or 6 months. Hence, Option A & Option C are incorrect