Income Statement
10th Grade
•10 Qs
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10th Grade
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Income Statement
Quiz
•
Professional Development
•
10th Grade
•
Hard
Joseph Hernandez
Used 7+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is revenue?
Total income from sales
Revenue minus direct costs (COGS)
Gross profit minus operating expenses
Sales minus operating expenses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is gross profit calculated?
Total income from sales
Revenue minus direct costs (COGS)
Gross profit minus operating expenses
Sales minus operating expenses
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does operating income represent?
Total income from sales
Revenue minus direct costs (COGS)
Gross profit minus operating expenses
Sales minus operating expenses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes revenue?
Only sales numbers
Sales minus direct production costs
Sales minus COGS minus operating expenses
How much the company brings in overall
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does gross profit indicate about a company?
How much the company brings in overall
How efficiently the company makes its product
How profitable the company’s operations are
Total income from sales
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the significance of operating income?
How much the company brings in overall
How efficiently the company makes its product
How profitable the company’s operations are
Total income from sales
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a component of gross profit?
Revenue
Direct costs (COGS)
Operating expenses
Sales numbers
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