Multiple Choice Quiz: Basic Income Statement

Grade Levels
8th - 12th, Higher Education, Adult Education, Homeschool
Resource Type
Formats Included
  • Zip
6 pages
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A 15-minute multiple-choice quiz (10 questions) to test the student's understanding of a basic income statement and its components.

The quiz tests the student on the purpose and role of the income statement within the scope of the accounting records and financial statements. There are also several questions that cover cost of goods sold as well as calculations of gross and net profit.

Separate questions document and solutions document - both in editable doc format.

Solutions sheet includes full explanations of the correct answers.

Difficulty Rating: Beginner --> Intermediate

Quiz length: 10 questions

Time limit: 15 minutes

Total Pages
6 pages
Answer Key
Teaching Duration
30 minutes
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