Understanding the P&L Statement Quiz

Who prepares the financial statements?

• Accountant

• CEO

• Marketing Manager

• User

What is the other name for the Profit and Loss statement?

• Balance Sheet

• Statement of Earnings

• Cash Flow Statement

• Inventory Statement

What does the Profit and Loss statement report information on?

• Equity and Debt

• Cash Flow and Investments

• Revenue and Expenses

• Assets and Liabilities

What is the first set of numbers presented in the Profit and Loss statement called?

• Top Line

• Bottom Line

• Middle Line

• Side Line

What is the amount the company pays to the government called?

• Excise Duty

• Income Tax

• Sales Tax

• Customs Duty

What is the revenue from services in the P&L statement for FY14?

• Rs. 3482 Crs

• Rs. 30.9 Crs

• Rs. 2.1 Crs

• Rs. 45.5 Crs

What does the other income in the P&L statement include?

• Interest on bank deposits

• Sale of storage batteries

• Revenue from operations

• Net sales from sales of products

What is the total revenue for FY14 according to the P&L statement?

• Rs. 400 Crs

• Rs. 3482 Crs

• Rs. 2943 Crs

• Rs. 3403 Crs

What is the main source of revenue for the company?

• Net revenue from operations

• Excise duty

• Other operating income

• Sale of products

What does the note number 17 in the P&L statement provide?

• Details of the split-up of revenues from operations

• Details of the split-up of expenses

• Details of the split-up of assets

• Details of the split-up of liabilities