Diane / Alec
Understanding Balance Sheets: A Quiz
Test your knowledge about balance sheets and financial management with our comprehensive quiz. This quiz covers essential concepts, risk areas, and performance measures that are critical for effective financial oversight.
Key Topics Include:
- Understanding balance sheet fundamentals
- Risk management strategies
- Performance measurement metrics
- Working capital management
What do you think of our understanding of our balance sheet?
Excellent
Above Average
Average
Below Average
Poor
Our PCs manage their working capital efficiently.
Strongly Agree
Somewhat Agree
Neither Agree nor Disagree
Somewhat Disagree
Strongly Disagree
Improved understanding of our balance sheets will lead to better performance.
Strongly Agree
Somewhat Agree
Neither Agree nor Disagree
Somewhat Disagree
Strongly Disagree
Improved understanding of our balance sheet will lead to better risk management.
Strongly Agree
Somewhat Agree
Neither Agree nor Disagree
Somewhat Disagree
Strongly Disagree
We should manage cash usage by setting limits and charge higher rates for excess usage.
Strongly Agree
Somewhat Agree
Neither Agree nor Disagree
Somewhat Disagree
Strongly Disagree
We should burst balance sheets at same time as PL.
Strongly Agree
Somewhat Agree
Neither Agree nor Disagree
Somewhat Disagree
Strongly Disagree
Return on allocated capital is sufficient as a measure of performance versus balance sheet size.
Strongly Agree
Somewhat Agree
Neither Agree nor Disagree
Somewhat Disagree
Strongly Disagree
How important is it for Group managers to have access to ECOM's balance sheet?
Very important
Could possibly be important
Not important at all
What do you think would be the biggest area of risk on ECOM's balance sheet?
Advances
Receivables
Inventory
Unrealized gains recognized (Financial assets at FV through P&L)
Bank debt (borrowings)
None of the above
Is there a risk to our banks when ECOM is a party to transactions that are permitted to be kept off the balance sheet?
Yes
No
What should be the basis for allocating resources at ECOM?
Profitability
Turnover
Budgetary planning
None of the above
Because agricultural business is seasonal, does that have an impact on the size of our balance sheet?
Yes, of course
No, why would it?
I really don't know
In a balance sheet by commodity, how do we end up with a negative "receivable" for one commodity and positive receivables for all others?
It is correct, as this one commodity only has liabilities - there are no real receivables.
Incorrect classification of receivables in local books
Incorrect inputs into affiliate counterparty data for consolidation software, resulting in large non-eliminating intercompany differences that system netted against "receivables"
No idea, but it makes the data "suspect"
What additional information is helpful to analyze the balance of "Unrealized gains recognized (Financial assets at FV thorugh P&L)"?
Quantities of each commodity
Prices of each commodity
None of the above
All of the above
Is the amount of total receivables relevant to our balance sheet users if the amount of provisions taken against doubtful accounts is not revealed?
Yes
No
It depends
Goodwill and other intangible assets are not real, so they should just be written-off against the current year P&L
Yes
No
Return on capital is the best measure of the profitability of a commodity division.
Yes
No
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