3. Finance and Accounts
Income Statements — Quiz
Test your understanding of income statements with 5 practice questions.
Practice Questions
Question 1
What is the main purpose of an income statement for a business?
Question 2
Which item is normally included as revenue in an income statement?
Question 3
If a business has revenue of $80,000$ and total expenses of $65,000$, what is its profit?
Question 4
What is gross profit calculated as?
Question 5
Which of the following is most likely to be an expense in an income statement?