90% of Entrepreneurs

Fail to understand the Financial Statements of their own Business

Can you read yours?

Take the quiz to find out!

1. How often do you check your financial Numbers?

Monthly

Quarterly

After year-end, during audit

Never, my CA handles it

2. Do you set your Annual Goals?

Yes

No

3.How many board meetings are mandatory for a company in a year?

1

2

3

4

4. How much cash expense are you allowed to spend in a day?

₹1,000

₹2,000

₹10,000

₹20,000

5. What is the meaning of "capital cost"?

Cost of goods sold

Expenses incurred in the daily operation of a business

Cost of acquiring fixed assets like buildings and machinery

Cost of labor and raw materials used in production

6. When should you borrow a Term Loan from a bank?

To finance daily operational expenses

To acquire fixed assets like buildings and machinery and equipment

To cover short-term cash flow shortages

To pay off existing short-term debts

7. When does Provident Fund apply to a company?

When the company has 10 or more employees

When the company has 15 or more employees

When the company has 20 or more employees

When the company has 50 or more employees

8. What do you mean by "break-even point"?

The point at which total revenue equals total expenses

The point at which total assets equal total liabilities

The amount of profit needed to cover fixed costs

The number of sales needed to cover variable costs