Income Statement
Quiz
•
Business
•
10th - 12th Grade
•
Medium
Used 171+ times
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16 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross profit is calculated by...
Revenue - Expense
Revenue + Expense
Revenue - Liabilities
Revenue + Liabilities
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Examples may include salaries, utilities, rent, insurance, and office supplies.
3.
MULTIPLE CHOICE QUESTION
30 sec • 12 pts
The Income Statement lists a businesses:
Revenue and Expenses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of an income statement?
calculate the bank balance
calculate net assets
calculate sales
calculate net profit
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following means money spent?
income
expense
net income
gross income
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following means money received?
net loss
net gain
insurance
income
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
When expenses are greater than income?
expense
net loss
net income
net gain
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