What is gross profit?

Finanse i Rachunkowość

Quiz
•
Financial Education
•
10th Grade
•
Medium
Aleksa Szczep
Used 2+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Gross profit is the amount that the company earned after deducting taxes.
Gross profit is the difference between sales revenue and marketing costs.
Gross profit is the difference between sales revenue and production costs.
Gross profit is the sum of revenues and production costs.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are the basic principles of accounting?
principle of complication
principle of speed
The basic principles of accounting are: the principle of reliability, the principle of continuity of operations, the principle of prudence, the principle of proportionality, the principle of homogeneity, the principle of reporting period, and the principle of transparency.
principle of safety
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the difference between assets and liabilities?
Assets are financial obligations, and liabilities are owned resources.
Assets are owned resources, and liabilities are financial obligations.
Assets and liabilities are synonyms.
Assets and liabilities have no difference.
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a balance sheet?
Bilans is a summary of the assets, liabilities, and equity of a company at a specific point in time.
Bilans is a summary of the revenues and expenses of a company.
Bilans is a summary of stock values on the stock exchange.
Bilans is a document confirming a company's profits.
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What are the main components of the income statement?
Revenues and expenses
Assets and liabilities
Revenues and costs
Profits and losses
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What does the term ROI mean?
Revenue on Investment
Risk of Inflation
Return on Investment
Rate of Income
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the basic types of costs in a business?
Costs of production and costs of marketing
Costs of profit and costs of loss
Material costs and non-material costs
Fixed costs and variable costs
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