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11thgrade

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Chapter 23: Income Statements

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  • 1. Multiple Choice
    30 seconds
    12 pts
    The Income Statement lists a businesses:
    Assets and Expenses
    Owner's Equity and Revenue
    Revenue, cost of goods and Expenses
    Expenses and Net Assets
  • 2. Multiple Choice
    30 seconds
    12 pts
    Which of the following is not a type of revenue?
    Sales
    Commission
    Service Fee
    Rent paid
  • 3. Multiple Choice
    30 seconds
    12 pts
    A Net Profit occurs if:
    Gross Profit is greater than expenses
    Expenses greater than Gross Profit
    None of the listed choices
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