finance & accounts

the income statement lists a business

• assets and expenses

• owner's equity and revenue

• revenue, cost of goods and expenses

• expenses and net assests

which of the following is not a type of revenue?

• sales

• rent paid

• commission earned

• ticket income

a net profit occurs if?

• gross profit is greater than expenses

• expenses are greater than gross profit

• none of the above

an expense is

• money spent by business for general operation

• money owed to the business by customers

• money the business owes to other business

net profit is

• assets less liabilities

• cost of sales less revenue

• gross profit less expenses

which of these does a statement of financial position show

• how much gross profit a business made

• its total revenue

• the assets, liabilities and capital of a business

• value of expenses paid

which of these is a liability

• cash

• stock

• payables (creditors)

• machinery

a bank loan is normally a

• non-current asset

• non-current liability

• current liability

examine the picture and select the value of total assets

• 2,000,000

• 300,000

• 800,000

• 2,500,000

how is gross profit margin calculated

• gross profit- expenses

• sales revenue- cost of sales

• (gross profit / sales revenue) * 100