Income Statement

Income Statement

Assessment

Flashcard

Business

10th - 12th Grade

Practice Problem

Easy

Created by

Wayground Content

Used 1+ times

FREE Resource

Student preview

quiz-placeholder

16 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Gross profit is calculated by...

Back

Revenue - Expense

2.

FLASHCARD QUESTION

Front

Examples may include salaries, utilities, rent, insurance, and office supplies.

Back

Expense

3.

FLASHCARD QUESTION

Front

The Income Statement lists a businesses: Revenue and Expenses

Back

Revenue and Expenses

4.

FLASHCARD QUESTION

Front

What is the purpose of an income statement?

Back

calculate net profit

5.

FLASHCARD QUESTION

Front

Which of the following means money spent? income, expense, net income, gross income

Back

expense

6.

FLASHCARD QUESTION

Front

Which of the following means money received? net loss, net gain, insurance, income

Back

income

7.

FLASHCARD QUESTION

Front

When expenses are greater than income?

Back

net loss

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?