Quiz Ke Toan 25/4/2024

Earnings of a salesperson based on the percentage of goods or services sold.

• Salary

• Wages

• Commission

• Deductions

Earnings paid to an employee based on an hourly rate. 

• Commission

• Wages

• Salary

• Deductions

An employee's fixed agreed yearly income. 

• Salary

• Deductions

• Wages

• Commission

The main purpose of an Income statement is to...

• calculate profit or loss

• provide information in an informative manner

payment, usually monthly, applied to the balance of a home loan used when purchasing housing

• insurance

• mortgage

• expense

• income and expense statement

when income is greater than expenses

• net income

• net loss

• gross income

• net gain

A __________ amount will appear on the left side of a T-account.

• Debit

• Credit

The Income Statement lists a businesses

• Assets and Expenses

• Owner's Equity and Revenue

• Expenses and Net Assets

• Revenue, cost of goods and Expenses

Which of the following is not a type of revenue?

• Sales

• Commission

• Service Fee

• Rent paid

A Net Profit occurs if:

• Gross Profit is greater than expenses

• Expenses greater than Gross Profit

• None of the listed choices