CABB 201 Pre-Test
*If you have a degree in finance or accounting, or are a licensed CPA, or have an acceptable valuation credential, CBI or M&AMI, or have completed IBBA 210, you are not required to take the pre-test.

A passing score is 7 questions correct. You may retake the test one (1) time if you do not pass on the 1st attempt.
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Email *
Name *
A P&L (Income Statement) lists all the Revenues and Expenses of a company over some period of time.    *
10 points
Required
The Balance Sheet lists all the assets and liabilities of a company at a certain point in time. 
 *
10 points
Required
You will find Donations made by the company listed on the Balance Sheet.   
 *
10 points
Required
Income Tax expenses (state and/or federal) should be listed on the P&L under “expenses” and not recasted out  (added back).   
 *
10 points
Required
Recasting the Balance Sheet shows the current value of the assets a Buyer will be getting.   
 *
10 points
Required
The Balance Sheet indicates incoming Revenues.   
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10 points
Required
“Other Income/Expenses” listed below Net Income should always be included.   
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10 points
Required
All interest on the P&L should always be recasted out (added back).   
 *
10 points
Required
The values of the Fixed Assets on the Balance Sheet are usually close to current values of the assets.   
 *
10 points
Required
You will find Accounts Receivable and Accounts Payable on the Balance Sheet.
 *
10 points
A copy of your responses will be emailed to the address you provided.
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