Have an account?
Skip to Content
Build your own quiz
Suggestions for you
10 questions
Show Answers
See Preview
- 1. Multiple Choice
How do you calculate net profit?
Revenue - Expenses
Gross profit - Variable cost
Revenue - indirect cost
Gross profit - Revenue
- 2. Multiple Choice
Examples may include salaries, utilities, rent, insurance, and office supplies.
Revenue
Net Income
Expense
Net Loss
- 3. Multiple Choice
Revenue = 1000
Cost of Goods Sold = 200
Expenses = 300
Net Profit = ?
800
700
300
500
- 4. Multiple Choice
Examples may include salaries, utilities, rent, insurance, and office supplies.
Revenue
Expense
Net income
Net loss
- 5. Multiple Choice
What is the purpose of an income statement?
calculate the bank balance
calculate sales
calculate net assets
calculate net profit
- 6. Multiple Choice
Which of the following means money spent?
Revenue
Expenses
Net income
Gross profit
- 7. Multiple Choice
Which of the following means money received?
Net loss
Net gain
Insurance
Income
- 8. Multiple Choice
When expenses are greater than income?
Expense
Net income
Net loss
Net gain
- 9. Multiple Choice
If total expenses exceed total revenue, a net loss is reported.
True
False
- 10. Multiple Choice
Money spent is an Expense
True
False
- Answer choicesTagsAnswer choicesTags