Income Statement CFu

Income Statement CFu

9th - 12th Grade

10 Qs

quiz-placeholder

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Income Statement CFu

Income Statement CFu

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Medium

Created by

HELENA MOSELY

Used 5+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

 A bakery has cupcake sales of $4000 for its first month of operation.

The cost of flour, sugar, and other ingredients is $1300.

Rent is $850

Utilities is $150

Wages $1500

Calculate the gross profit.

$1700

$2700

$200

$4000

2.

DROPDOWN QUESTION

1 min • 1 pt

Categorize the following: $3,000 earned from consulting services. ​ ​ ​ (a)  

COGS
Expenses
Revenue

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A graphic designer earns $1,500 from creating logos

Spends $400 on software subscriptions

$125 for internet

Calculate the net income.

$975

$1100

$1375

$525

4.

CATEGORIZE QUESTION

3 mins • 1 pt

Organize these options into the right categories

Groups:

(a) Expenses

,

(b) Revenue

,

(c) COGS

Sales

Subscriptions

Utilities

Direct Labor
Raw Materials

Advertising

Packaging Costs

Fees

Freight Costs

Taxes

Ingredients

Investment Income

Office Supplies

Commissions

Rent

Royalties

Salaries

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A car repair shop earned $5700 for repairs.

Replacement parts cost $1250
labor costs are $2200

shop utilities are $250.

Calculate the net income.

$200

$2000

$2500

$2250

6.

DROPDOWN QUESTION

1 min • 1 pt

Categorize the following: $2,000 spent on employee training.​ (a)  

COGS
Revenue
Expense

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An online store sells $15,000 worth of products.

The cost of the products is $9,000

Shipping costs are $1,000

Office supplies $100

What is the gross profit?

$10,000

$5000

$4900

$6000

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