Income Statement Exam Questions And Answers

No frames version chapter 4.

Income statement exam questions and answers. If you have difficulty answering the following questions learn more about this topic by reading our income statement explanation. Examples of service businesses are medical accounting or legal practices or a business that provides services such as plumbing cleaning consulting design etc. The following trial balance is prepared after preparation of income statement for f. Skip breadcrumb navigation home.

Examination september 2016 model exam institute of business. 2 19 add solution to cart remove from cart. Get help with your income statement homework. Prepare balance sheet for f.

Green as at 31 march 2015. 4 submit all workings. The solution answers 40 multiple choice questions related to balance sheet income statement perpetual invenotyr system periodic inventory system bank reconciliation etc. You can skip questions if you would like and come.

For multiple choice and true false questions simply press or click on what you think is the correct answer. Preparation of balance sheet horizontal and vertical style. Workbook has 88 questions and exercises starting from the accounting equation and basic concepts to journal entries t accounts the trial balance financial statements the cash flow statement. For fill in the blank questions press or click on the blank space provided.

In the absence of information about the date of repayment of a liability then it may be assumed. Exam january 5 2011 questions with notes for students 2011 2012 exam march 27 2012 questions exam march 2012 exam march 27 2012 appendix appendix elaboration question 3 exam march 27 2012 answers answers exam in march 2012 exam march 26 2013 questions voorbeeldtentamen 5 january 2011 questions and answers. Access the answers to hundreds of income statement questions that are explained in a way that s easy for you to understand. If you want more practice with full accounting questions and answers you should get the official exercise book for this site volume 2 in the accounting basics series.

The income statement format above is a basic one what is known as a single step income statement meaning just one category of income and one category of expenses and prepared specifically for a service business. Green as at 31 march 2015 in both horizontal and vertical style.