3GR Income statement

The profit and loss account is also known as the income statement.

• TRUE

• FALSE

Sales revenue is the income earned from selling goods and services over a given period.

• yes

• no

The profit and loss account, or the profit statement, shows the net profit (or loss) of a business at the end of a trading period.

• TRUE

• FALSE

Which is an example for a large number?

• 1,00467

• 0,47965

• 1 053 568

• 352%

What is the difference between numbers and figures?

• Numbers represent quantities; figures are visual representations of those numbers.
• Numbers are only used in math; figures are for art.
• Figures are used in calculations; numbers are not.
• Numbers are always whole; figures can be fractions.

What does "in the red" meean?

• It means to be very successful financially.
• It refers to a positive cash flow situation.
• It indicates a high credit score.
• It means to be in debt or to have a financial loss.

What does "in the black" mean?

• It means having a positive financial status or profit.
• It means being in debt or losing money.
• It refers to a state of confusion or uncertainty.
• It indicates a lack of financial records.

Which are the examples for fractions?

• 3/4
• 5
• 1.5
• 1/2

What are assets?

• Assets are liabilities that decrease in value over time.
• Assets are valuable resources owned by an individual or organization.
• Assets are only physical items like buildings and machinery.
• Assets are debts owed by an individual or organization.

What is balance sheet?

• A balance sheet is a document that outlines a company's marketing strategy.
• A balance sheet is a report that details employee performance.
• A balance sheet is a summary of a company's sales and revenue.
• A balance sheet is a financial statement that shows a company's assets, liabilities, and equity.