Income Statement
Quiz
•
Other
•
10th Grade
•
Practice Problem
•
Medium
Phaik Gek Lim
Used 842+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 12 pts
The Income Statement lists a businesses:
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the purpose of an income statement?
calculate the bank balance
calculate net assets
calculate sales
calculate net profit
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following means money spent?
income
expense
net income
gross income
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following means money received?
net loss
net gain
insurance
income
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Examples may include salaries, utilities, rent, insurance, and office supplies.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which one is not an expense?
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Gross profit is calculated by...
Revenue - Total Costs
Revenue + Variable Costs
Revenue - Cost of Sales
Revenue - Fixed Costs
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