Cash Vs Accrual Accounting and Income Statement

Cash Vs Accrual Accounting and Income Statement

University

25 Qs

quiz-placeholder

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Cash Vs Accrual Accounting and Income Statement

Cash Vs Accrual Accounting and Income Statement

Assessment

Quiz

Business, Other

University

Medium

CCSS
6.NS.C.5, 7.NS.A.1A

Standards-aligned

Created by

ain abba

Used 77+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Money spent
income
expense
net income
gross income

Tags

CCSS.6.NS.C.5

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

money received
net loss
net gain
insurance
income

Tags

CCSS.7.NS.A.1A

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

when expenses are greater than income
expense
net loss
net income
net gain

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What does COGS stand for?
cost of goals scored
cost of goods stocked
cost of goods sold
cost of goods solvent

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How do you calculate gross profit?
Sales - COGS
Sales - NP
COGS - Expenses
COGS - NP

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Cost of sales is calculated by...

Opening stock + purchases - closing stock

Opening stock + purchases + closing stock

Adding up all of the stock bought during the year

Opening stock - closing stock

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Revenue = 1000

Cost of Goods Sold = 200

Expenses = 300

Gross Profit = ?

800

500

700

300

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