Finance Unbox-ED ($) - Grade 3-5 - Session 003 - Quiz 2

Select all the statements that are true

• Income - Expense = Loss
• Income - Expense = Profit
• Expense - Income = Profit
• Expense - Income = Loss

Breakeven happens when income is equal to expenses

• True
• False

John bought a game for $20 and spent $5 repairing it. He sold it for $25

• John made a profit of $5
• John made a loss of $5
• John was breakeven on the sale
• John made a loss of $20

Roger bought a chocolate bar for $2 and sold it for $3. Select all the statements that are true

• Roger's income is $3
• Roger's expense is $2
• Roger's loss is $1
• Roger's profit is $1

Sachin sold a burger and a lemonade for $5. It cost him $2 for the burger and $1 for the lemonade. Select all the statements that are true

• Sachin earned an income of $5

• Sachin made expenses of $3

• Sachin made a profit of $2

• Sachin made a loss of $2