How much do you know about the Profit & Loss Statement? | AD SME

How much do you know about the Profit & Loss Statement? 

Which name from the list below is NOT related to the income statement?

1 / 7

Earnings from a business's primary operations are referred to as __________.

2 / 7

Revenues are recognized in the accounting period in which _________ under the accrual basis of accounting.

3 / 7

Net Sales minus the Cost of Goods Sold is __________.

4 / 7

Which accounting method best captures profitability over a brief period of time?

5 / 7

Does the income statement have to include the earnings per share if the company's stock is traded publicly?

6 / 7

Should some of the expenses listed on the revenue statement be considered estimates?

7 / 7

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