Week 2 - M1 - Pregrad

Week 2 - M1 - Pregrad

Professional Development

30 Qs

quiz-placeholder

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Week 2 - M1 - Pregrad

Week 2 - M1 - Pregrad

Assessment

Quiz

Professional Development

Professional Development

Practice Problem

Easy

Created by

ANKIT WALIA

Used 1+ times

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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of an income statement?

To show a company's cash position

To show the company's net assets

To report revenues and expenses over a period

To calculate net worth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Gross Profit is calculated as:

Revenue – Operating Expenses

Revenue – Cost of Goods Sold

Revenue – Taxes

Net Profit + Operating Expenses

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT part of operating expenses?

Salaries

Advertising

Depreciation

Loan repayments

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Net profit margin is calculated by:

Net Income / Revenue

EBIT / Total Assets

Net Income / Total Equity

Revenue / Net Income

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does EBIT stand for?

Earnings Before Income and Taxes

Earnings Before Interest and Tax

Expenditure Before Interest and Tax

Equity Before Interest and Tax

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which line item appears before taxes in the income statement?

Net Income

Cost of Goods Sold

Earnings Before Taxes

Operating Income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these would not be found in an income statement?

Interest Expense

Revenue from operations

Capital Expenditures

Tax Expense

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