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Balance sheet quiz

by sarah | Feb 23, 2024

Finance Unlocked for Nonprofits Balance Sheet What do I need to know about the balance sheet? Balance sheet quiz

Test your knowledge of the balance sheet and answer the following questions using this sample balance sheet.

Sample Balance Sheet

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  1. 1
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  6. 6
  1. Current
  2. Review
  3. Answered
  4. Correct
  5. Incorrect
  1. Question 1 of 6
    1. Question

    On what date was this balance sheet “snapshot” taken?

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  2. Question 2 of 6
    2. Question

    On that day, what did the nonprofit own (total assets)?

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  3. Question 3 of 6
    3. Question

    What did the nonprofit owe (total liabilities)?

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  4. Question 4 of 6
    4. Question

    Are current liabilities close to or greater than current assets?

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  5. Question 5 of 6
    5. Question

    Is the nonprofit’s current ratio greater than one? Remember: Current Ratio = Current Assets/Current Liabilities

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  6. Question 6 of 6
    6. Question

    How much cash and cash equivalents does the nonprofit have?

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