Income Statements
Authored by Graeme Thompson
Business
4th - 6th Grade
Used 29+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An income statement highlights a business's
Assets
Profits and Losses
Sales
Wages
2.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Businesses produce income statement to:
Calculate total costs of expenses
Calculate costs of sales
Legal reasons
Calculate profit/loss for the year
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should be in (i)
Sales
Opening Inventory
Closing Inventory
Purchases
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should be in (ii)
Gross Profit
Profit for the Year
Opening Balance
Profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should be in (iii)
Gross Profit
Profit for the Year
Opening Balance
Profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should be in (iv)
£800
£2,000
£8,000
£3,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should be in (v)
£130
£155
£1,000
£105
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