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- 1. Multiple Choice
Profit is the reward for___
workers
banks
costumers
enterprise
- 2. Multiple Choice
The bank manager, business ___ and managers are the main users of the income statement
owners
workers
shops
community
- 3. Multiple Choice
Which one of the following appears on an income statements?
Owner's capital
Expenses
Cash at bank
Value of inventory
- 4. Multiple Choice
Revenue is $5000 and gross profit $1500, the cost of sales is ___
$6500
$5000
$3500
$1500
- 5. Multiple Choice
Profit is $10000, cost of sales is $4000, expenses is $4000 and revenue is ___
$ 36 000
$ 18 000
$ 14 000
$ 8000
- 6. Multiple Choice
Gross profit is higher than profit
True
False
- 7. Multiple Choice
Revenue minus expenses equals gross profit
True
False
- 8. Multiple Choice
Depreciation is not included on the income statement
True
False
- 9. Multiple Choice
Retained profit for a company is what is left from profit after tax and dividends have been deducted
True
False
- 10. Multiple Choice
Income statements are often used by managers when making decisions
Yes
True
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