1. What does "P&L" stand for?
Profit and Loss
Planning and Logistics
Profit and Liabilities
Projections and Ledgers
2. What does "B/S" stand for?
Business Summary
Balance Sheet
Budget and Sales
Banking Statement
3. What does "C/F" stand for?
Cash Flow Statement
Company Forecast
Corporate Filing
Credit and Financing
4. What is the primary purpose of a **Monthly Report**?
Reporting the entire year's performance to shareholders.
Short-term progress checks and timely business decisions.
Filing annual taxes with the government.
Creating a 5-year business plan.
5. What is a primary purpose of an **Annual Report**?
Summarizing the entire year's performance for tax authorities and shareholders.
Making daily operational decisions.
Forecasting the next month's cash flow.
Checking short-term sales goals.
6. What does "KPI" stand for?
Key Profit Indicator
Key Performance Indicators
Known Performance Issues
Key Planning Initiative
7. In the Philippines, what does the "BIR" stand for?
Bureau of Internal Revenue
Board of Investor Relations
Business Integrity Registry
Banking and Investment Rules
8. In the Philippines, what is the mandatory *monthly* requirement mentioned for businesses?
Investor KPI reporting
Filing monthly tax returns with the BIR
Internal management review only
Submitting a Cash Flow Projection
9. In the U.S., what does the "SEC" stand for?
Securities and Exchange Commission
Standard Expense Classification
Senior Executive Committee
Sales and Expense Calculations
10. In the U.S., what does the "IRS" stand for?
Investor Relations Service
Internal Reporting Standards
Internal Revenue Service
International Reporting Service
11. In Japan, are monthly reports typically filed with the government?
Yes, they are mandatory for all businesses.
Yes, but only for publicly listed companies.
No, they are primarily for internal management.
No, Japan only requires annual reports.
12. What specific tax is mentioned as crucial for daily operations in the Philippines?
Income Tax
Property Tax
VAT (Value Added Tax)
EBITDA Tax
13. In the U.S., what does "EBITDA" stand for?
Earnings Before Interest, Taxes, Depreciation, and Amortization
Estimated Business Income, Taxes, and Debtor Adjustments
Every Business's Important Tax Data and Analysis
Earnings Based on Internal Tax and Debt Adjustments
14. What question does the **Income Statement (P&L)** primarily answer?
What is the company's financial position today?
Where did our cash come from and go?
Did we make a profit or a loss during this period?
How much debt does the company have?
15. What question does the **Balance Sheet (B/S)** primarily answer?
What is the company's financial position at a specific point in time?
How much profit did we make last year?
Where did our cash come from and go?
What were our total sales for the month?
16. What question does the **Cash Flow Statement (C/F)** primarily answer?
Is the company profitable?
What does the company own?
Where did our cash actually come from and where did it go?
What is the company's total equity?
17. What does "COGS" stand for?
Cost of General Services
Company Operating and General Supplies
Cost of Goods Sold
Cash Operating from General Sales
18. On a Balance Sheet, what are "Assets"?
What the company owes to others.
What the company owns.
What the company owes to the owners.
The company's total sales.
19. On a Balance Sheet, what are "Liabilities"?
What the company owns.
The company's total profit.
What the company owes to others.
The direct cost of making a product.
20. On a Balance Sheet, what is "Equity"?
What the company owes to others (like banks).
What the company owes to the owners.
The total cash the company has.
The total sales for the year.