Income Statement Exam Questions

Income statement questions and answers test your understanding with practice problems and step by step solutions.

Income statement exam questions. Choose your answers to the questions and click next to see the next set of questions. Balance sheet income statement practice questions. Sales 500 000 purchases 225 000. The income statement is affected but the balance sheet is not c.

This quiz is a 15 minute timed test consisting of 10 multiple choice questions and will test you on the theory above as well as the components of the income statement and various calculations including incomes expenses gross and net profit. Preparing the income statement chapter exam instructions. Is a merchandising company that uses the periodic inventory system. If you have difficulty answering the following questions learn more about this topic by reading our income statement explanation.

For fill in the blank questions press or click on the blank space provided. Gaap related practice question s this post addresses practice questions for intermediate acct cash conversion cycle sample question. Selected account balances are listed below. The balance sheet is affected.