Business Financial Statements Quiz

What is the income statement also known as?

• Balance sheet

• Profit and loss statement

• Cash flow statement

• Financial statement

What does the balance sheet look at?

• Gross profit and net profit

• Cash flows

• Assets and liabilities

• Income and cost

What does the cash flow statement look at?

• Income and cost

• Cash flows

• Assets and liabilities

• Gross profit and net profit

What does the income statement look back over?

• Assets and liabilities

• Cash flows

• Trading activities

• Gross profit and net profit

What is the difference between the firm's total income and total costs?

• Gross profit

• Net profit

• Finance costs

• Operating profit

What is the basic structure of a simple income statement?

• Revenue, cost of sales, gross profit, operating profit, finance costs

• Revenue, cost of sales, gross profit, overheads, net profit

• Revenue, cost of sales, gross profit, overheads, finance costs

• Revenue, cost of sales, gross profit, operating profit, final profit

What is the measure of performance profit over a certain period of time?

• Gross profit

• Finance costs

• Operating profit

• Net profit

What is the net inflows compared with the cash outflows in the cash flow statement?

• Gross profit

• Operating profit

• Net profit

• Finance costs

What is the measure of the profitability of a business?

• Finance costs margin

• Net profit margin

• Operating profit margin

• Gross profit margin

What are the direct costs of making all the products in a business?

• Finance costs

• Revenue

• Overheads

• Cost of sales