
Income Statement Quiz
Authored by Nedko Minchev
Business
2nd Grade
Used 1+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Revenue also known as?
Expenses
Sales
Profit
Loss
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Cost of Goods Sold (COGS) refer to?
Indirect costs like rent
Direct costs of producing goods or services
Total income from sales
Final profit after expenses
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are Operating Expenses?
Direct costs of goods sold
Indirect costs like rent, salaries, and utilities
Total income from sales
Final profit after expenses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Other Income/Expenses include?
Direct costs of goods sold
Non-operating income or costs like interest and taxes
Total income from sales
Final profit after expenses
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of an Income Statement?
To determine a business's profitability
To list a business's assets
To show a business's cash flow
To display a business's equity
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an indirect cost?
Cost of Goods Sold (COGS)
Revenue
Rent
Sales
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of report is an Income Statement?
Financial report
Marketing report
Sales report
Inventory report
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