This is the capstone. Eight lessons took you from the first line of a balance sheet to a full discounted-cash-flow valuation and the forensic skill of spotting a cooked book. You can read what a company owns and owes, what it earned, where its cash went, how the three statements lock into one model, what every ratio diagnoses, what a multiple is really comparing, what a business is worth from first principles, and how to tell real earnings from cosmetics. No formula sheet, no hints, no take-backs: every answer locks the instant you submit, the wrong options are the exact traps that catch real investors, and your score stays hidden until the end.
How this exam works
This is a graded exam. Questions arrive one at a time. Once you submit an answer it is final — there is no going back, no second try, and a wrong answer simply fails that question. Your score stays hidden until the very end, where you need 70% to pass. Read every option before you commit.
A company reports total assets of $900M and total liabilities of $550M. What is its shareholders' equity?
Select an answer to continue.