Income Statement Essentials

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Test your understanding of revenue, COGS, and expenses.

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Nesma.Gamal

Egypt

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Income Statement Essentials


Income Statement EssentialsVersion en ligne Test your understanding of revenue, COGS, and expenses. par Nesma.Gamal 1 Which category do ice-cream ingredients today belong to? a Revenue b Net Income c Cost of Goods Sold d Expense 2 What is typically recorded as revenue? a Money earned from selling goods or services b Cost of Goods Sold c Money paid to suppliers d Profits after tax 3 Which item is an expense? a Ice-cream ingredients b Sales revenue c Rent for the shop d Inventory 4 Which is part of the income statement? a Accounts payable b Cash on hand c Capital contributed d Net Income 5 Fuel for the truck is classified as? a Revenue from financing b Cost of Goods Sold c Net Income d Revenue 6 Which cost goes into COGS? a Rent for the headquarters b Salaries office staff c Direct materials used today d Advertising expense 7 Which sentence is TRUE about COGS? a COGS includes taxes only b COGS is profit c COGS is always zero d COGS includes direct costs to produce goods sold 8 What does Net Income represent? a Total revenue only b Total assets minus liabilities c Cash in the bank d Profit after subtracting all costs from revenue 9 Which item is not part of COGS? a Ice-cream ingredients b Driver’s salary c Phone bill d Truck fuel 10 Which choice best describes revenue? a Money spent on supplies b Money earned from selling goods or services c Asset value increase d Profit after costs

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Income Statement Essentials

Test

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

Top Jeux

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Income Statement EssentialsVersion en ligne

par Nesma.Gamal

Which category do ice-cream ingredients today belong to?

What is typically recorded as revenue?

Which item is an expense?

Which is part of the income statement?

Fuel for the truck is classified as?

Which cost goes into COGS?

Which sentence is TRUE about COGS?

What does Net Income represent?

Which item is not part of COGS?

Which choice best describes revenue?