Income Statement / Statement of Comprehensive Income

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About this activity

Read the questions carefully, click the letter of the best answer

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Elva Escario

Philippines

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Froggy Jumps Income Statement / Statement of Comprehensive IncomeOnline version Read the questions carefully, click the letter of the best answer by Elva Escario 1 presents the results of a company's operations over a specific accounting period, detailing revenues and expenses to reveal net income or loss, thereby reflecting the company's financial performance during that time. a income statement / statement of comprehensive income b balance sheet / statement of financial position c statement of changes in equity 2 They are subtracted from total income/revenue to show the company's profit or loss a Income b Liabilities c Expenses 3 It is the total income generated by a business from its normal operations, primarily through the sale of goods or services. a Assets b Income / Revenue c Equity 4 A service business reports total revenues of Php150,000 and total expenses of Php 50,000 for the year. What is the net income for the business? a Php 30,000 b Php 50,000 c Php 100,000 5 Which of the following components is most likely to be included in the operating expenses of a repair service business? a Payment of loans b Repair services c Salaries of repair man 6 If the income generated exceeds the total operating expenses, the outcome is… a Net Revenue/Income b Net Loss c Break-even 7 If the operating expenses exceed the income generated the result is,, a Net Revenue/Income b Net Loss c Break-even 8 If the Net Revenue/Income is Php 75,000 and the Operating Expenses are Php 23,500, what is the Service Revenue/Income generated by the business? a Php 98,500 b Php 51,500 c Php 52,500

Froggy Jumps

Income Statement / Statement of Comprehensive IncomeOnline version

Read the questions carefully, click the letter of the best answer

by Elva Escario

presents the results of a company's operations over a specific accounting period, detailing revenues and expenses to reveal net income or loss, thereby reflecting the company's financial performance during that time.

income statement / statement of comprehensive income

balance sheet / statement of financial position

statement of changes in equity

They are subtracted from total income/revenue to show the company's profit or loss

Income

Liabilities

Expenses

It is the total income generated by a business from its normal operations, primarily through the sale of goods or services.

Assets

Income / Revenue

Equity

A service business reports total revenues of Php150,000 and total expenses of Php 50,000 for the year. What is the net income for the business?

Php 30,000

Php 50,000

Php 100,000

Which of the following components is most likely to be included in the operating expenses of a repair service business?

Payment of loans

Repair services

Salaries of repair man

If the income generated exceeds the total operating expenses, the outcome is…

Net Revenue/Income

Net Loss

Break-even

If the operating expenses exceed the income generated the result is,,

Net Revenue/Income

Net Loss

Break-even

If the Net Revenue/Income is Php 75,000 and the Operating Expenses are Php 23,500, what is the Service Revenue/Income generated by the business?

Php 98,500

Php 51,500

Php 52,500

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Income Statement / Statement of Comprehensive Income

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Income Statement / Statement of Comprehensive IncomeOnline version

by Elva Escario

presents the results of a company's operations over a specific accounting period, detailing revenues and expenses to reveal net income or loss, thereby reflecting the company's financial performance during that time.

They are subtracted from total income/revenue to show the company's profit or loss

It is the total income generated by a business from its normal operations, primarily through the sale of goods or services.

A service business reports total revenues of Php150,000 and total expenses of Php 50,000 for the year. What is the net income for the business?

Which of the following components is most likely to be included in the operating expenses of a repair service business?

If the income generated exceeds the total operating expenses, the outcome is…

If the operating expenses exceed the income generated the result is,,

If the Net Revenue/Income is Php 75,000 and the Operating Expenses are Php 23,500, what is the Service Revenue/Income generated by the business?

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