Income Statements

Income Statements

4th - 6th Grade

7 Qs

quiz-placeholder

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Income Statements

Income Statements

Assessment

Quiz

Business

4th - 6th Grade

Hard

Created by

Graeme Thompson

Used 28+ times

FREE Resource

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An income statement highlights a business's

Assets

Profits and Losses

Sales

Wages

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Businesses produce income statement to:

Calculate total costs of expenses

Calculate costs of sales

Legal reasons

Calculate profit/loss for the year

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What should be in (i)

Sales

Opening Inventory

Closing Inventory

Purchases

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What should be in (ii)

Gross Profit

Profit for the Year

Opening Balance

Profit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What should be in (iii)

Gross Profit

Profit for the Year

Opening Balance

Profit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What should be in (iv)

£800

£2,000

£8,000

£3,000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What should be in (v)

£130

£155

£1,000

£105