5-1 Business Income, Revenues, Expenses, and Profits Quiz
Quiz
•
Business
•
9th Grade
•
Hard

Amy Hardin
FREE Resource
Enhance your content
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a Balance Sheet?
A statement showing only liabilities
A financial statement showing assets, liabilities, and owners' equity
A report of only the company's income
A document listing only expenses.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Capital is money used to make an investment, produce a product, fund operations, and ______.
generate income
pay taxes
reduce liabilities
increase expenses
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Cost of Goods Sold include?
Only the cost of raw materials
The cost of raw materials, direct labor, and manufacturing costs
Only direct labor costs
Only manufacturing costs.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Earnings Before Interest and Taxes (EBIT) is calculated as Operating Income minus ______.
non-operating income and non-operating expenses
only taxes
only interest
only operating expenses
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross Profit is calculated as ______.
Revenue minus Cost of Goods Sold
Revenue minus Operating Expenses
Revenue minus Interest
Revenue minus Taxes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Income?
Money received from doing business, including sales revenue and other income
Only sales revenue
Only investment returns
Only interest income.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Interest Expense is money spent to pay for borrowed money and is calculated as ______.
the interest rate times the outstanding principal amount of the debt
only the interest rate
only the principal amount
only the total debt
Create a free account and access millions of resources
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple

Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
Similar Resources on Wayground
20 questions
Accounting Worksheets Quiz1
Quiz
•
9th - 12th Grade
20 questions
Behavioral Economics
Quiz
•
9th - 12th Grade
15 questions
Enterprise- B2- Methods of Payments (plus revisited topics)
Quiz
•
9th - 11th Grade
17 questions
RIF Practice Exam 1
Quiz
•
9th Grade
15 questions
ITA - Accounting Basics
Quiz
•
8th - 11th Grade
15 questions
Forms of Business Organization
Quiz
•
1st - 10th Grade
22 questions
PM Unit 3 Review Revised 3-29-22
Quiz
•
9th - 12th Grade
15 questions
Accounting Careers
Quiz
•
9th - 12th Grade
Popular Resources on Wayground
20 questions
Brand Labels
Quiz
•
5th - 12th Grade
11 questions
NEASC Extended Advisory
Lesson
•
9th - 12th Grade
10 questions
Ice Breaker Trivia: Food from Around the World
Quiz
•
3rd - 12th Grade
10 questions
Boomer ⚡ Zoomer - Holiday Movies
Quiz
•
KG - University
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
Adding Integers
Quiz
•
6th Grade
10 questions
Multiplication and Division Unknowns
Quiz
•
3rd Grade
20 questions
Multiplying and Dividing Integers
Quiz
•
7th Grade