Income Statement

Income Statement

9th - 10th Grade

15 Qs

quiz-placeholder

Similar activities

Calculating Final Results Quiz - Fashion Merchandising

Calculating Final Results Quiz - Fashion Merchandising

9th - 12th Grade

10 Qs

OCR GCSE Economics - 3.3 - Fair Distribution of Income

OCR GCSE Economics - 3.3 - Fair Distribution of Income

9th - 11th Grade

10 Qs

Depreciation

Depreciation

10th - 12th Grade

17 Qs

Payroll Checks

Payroll Checks

9th - 12th Grade

10 Qs

Accounting Practice 7.1

Accounting Practice 7.1

10th - 12th Grade

10 Qs

Income Statements!

Income Statements!

10th - 12th Grade

15 Qs

Accounting in English

Accounting in English

10th Grade - University

20 Qs

Time and Money Management

Time and Money Management

9th - 12th Grade

20 Qs

Income Statement

Income Statement

Assessment

Quiz

Other

9th - 10th Grade

Hard

Created by

Poushali Roy

Used 45+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Income Statement is prepared at

Middle of the year

End of the year

Every 3 months

Every 6 months

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is recorded in the Income Statement

Expense & Income

Asset & Liability

All 5

Drawings

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you debit Income Statement it

increases profit

decreases profit

profit remains unchanged

None of these

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the Income St Expenses and Liability are

Debited

Credited

Both

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Prepaid expenses and income are

subtracted

added

multiplied

divided

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accrued expense and income is

added

subtracted

multiplied

divided

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Recording of income in Income Statement is

an opening entry

a closing entry

an adjustment entry

a rectification entry

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?