Intro to Mortgage Origination Examinations Training - July 2025

Internal Use Only

Knowledge Check #3 Which financial statement shows a company’s assets, liabilities, and equity at a specific point in time? A. Income Statement B. Balance Sheet C. Cash Flow Statement D. Statement of Changes in Equity

Internal Use Only

Knowledge Check #4

What is the primary purpose of the income statement? A. To show the company’s cash inflows and outflows B. To present changes in owner’s equity C. To report revenues and expenses over a period of time D. To list all company assets and liabilities