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WorksheetsIncome statement
Total questions: 12
Worksheet time: 8mins
If total expenses exceed total revenue, a net loss is reported.
True
False
Net Profit = 500
Income = 2000
Expenses = 1000
Cost of Goods Sold = ?
1500
1000
3000
500
Total profit made before all remaining expenses have been deducted:
Financial Ratios
Gross Profit
Net income
Operating Statement
Gross profit is calculated by...
Revenue - Total Costs
Revenue + Variable Costs
Revenue - Cost of Sales
Revenue - Fixed Costs
What is the purpose of an income statement?
calculate the bank balance
calculate net assets
calculate sales
calculate net profit
Depreciation& amortization are:
cash expenses
finance costs
non-cash expenses
taxed income
EBITDA IS
a financial metric that shows the operating profit after ignoring non cash expense
net operating profit
the final stage of profit stages
a financial metric that shows the operating profit before ignoring non cash expense
When a firm has a controlling interest in a subsidiary, the statements of the two firms are consolidated; the earnings of both firms are included in the income statement. In this case, the share (proportion) of the subsidiary’s income not owned by the parent is reported in the parent’s income statement as
the non-controlling interest
net profit
parent shareholders' net profit
equity investment
