Business

11th -

12th

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Income Statements

186

16 questions

  • 1. Multiple Choice
    30 seconds
    1 pt

    An accounting report that is used to show revenue and expenses is the

    Loss and Profit Statement

    Reveune and Expenses Statement

    The Profit or Loss Statement

    The Income Statement

  • 2. Multiple Choice
    30 seconds
    1 pt

    The Qualitative characteristics that need to be considered when preparing an Income Statement are...

    comparability and understandability

    relevance and reliability

    relevance and understandability

    comparability and relevance

  • 3. Multiple Choice
    30 seconds
    1 pt

    The main purpose of an Income statement is to...

    calculate profit or loss

    provide information in an informative manner

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