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Fitch Learning Assignment Correct Answers Latest Version 2024
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Fitch Learning Assignment Correct Answers Latest Version 2024
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Fitch Learning Assignment Correct AnswersLatest Version 2024
balance sheet equation Answer: assets = liabilities + shareholder's equity
What does the income statement show? Answer: the entities financial performance/profitability
between two balance sheets
What two things are shown on the income statement? Answer: revenues and expenses
What are the different profits shown on the income statement? Answer: gross profit
operating profit
EBIT
EBITDA
net income
Statement of Cash Flows shows what three activities that cause cash fluctuations? Answer:
financing, operating, and investing activities
What valuation method relies on the statement of cash flows? Answer: DCF
List the five financial statement elements Answer: 1. assets
2. liabilities
3. equity
4. income
5. expenses
, Asset Answer: store of future benefit
tangible assets: definition and example Answer: assets that have a phyiscal substance
ex. PPE, inventory
intangible assets: definition and examples Answer: assets that lack physical substance
ex. goodwill, brands, licences, r&d, software
non-current assets: definition and examples Answer: assets that cannot be turned into cash within a
year
ex. PPE, goodwill, licences, R&D, software
current assets: definition and examples Answer: assets that can be converted into cash within a
year
ex. invetories
Liabilities: definition and examples Answer: an amount owed to a third party as a result of a
previous exchange
ex. Accounts payable, notes payable, taxes payable, pension deficits, provisions
equity Answer: the amount that is owned by shareholders
income Answer: measure of the increase in a companys benefits over a period
trading income Answer: revenue or sales generated by operations
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