
Financial Statements
Business
9th - 12th Grade
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial ratio percentages on an income statement compare Revenue (Sales) to total expenses and ?
net expenses
total income
net income
revenue
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ratio percentages are calculated by dividing the amount being analyzed by the total amount of
total expenses
sales
net income
total income
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To use financial ratio percentages, an owner needs to know what's normal for their business (industry).
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between total revenue and total expenses is called
owner drawing
total assets
net income/loss
owner capital
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An income statement reports financial information over a specific period of time.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Total Sales = $168,900 and Total Expenses = $186,900. What is the Income Statement result?
Net Income - $27,000
Net Loss - $27,000
Net Income - $18,000
Net Loss - $18,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If total expenses exceed _____________, a net loss is reported on an income statement.
net expenses
profit
total revenue
net income
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