NEW
Font size
WorksheetsYear 10 Accounting - Financial Reports
Total questions: 10
Worksheet time: 5mins
An accounting report that is used to show revenue and expenses is the:
Statement of Financial Position
Revenue and Expenses Statement
Profit or Loss Statement
Statement of Profit or Loss
If Sales amounted to $88,000 and Cost of Goods Sold came to $42,000, what would the Gross Profit calculate to?
$44,000
$48,000
$46,000
$130,000
What is the total of the other revenues?
$680
$8,080
$9,500
$7,400
What is the total other expenses for the year?
$3,530
$8,080
$7,400
$4,550
What is the difference between the gross and net profits?
$4,550
$3,870
$8,080
$0
What is the net sales amount?
$10,000
$500
$9,500
$10,500
What is the difference between the revenues earned from the sale of inventories and the cost of goods sold?
Net profit
Gross profit
Net sales
Cost of goods sold
An accounting report that is used to show assets, liabilities and owner's equity is the:
Statement of Profit or Loss
Statement of Cash Flows
Statement of Financial Position
Statement of Profit and Finances
What is the link between the Statement of profit or loss and the Statement of financial position?
Gross profit
Capital
Owner's equity
Net profit
ABC has total assets of $1500 and total liabilities of $800. What is the amount of ABC's owner's equity?
$200
$700
$900
$800
