Company Benefits2024-02-14Accountants2024-02-14 Report a question What's wrong with this question? You cannot submit an empty report. Please add some details. 12345678910 Income Statements Advanced Business English practice 10 multiple-choice questions If you log in, you will get the results via email. Category: business-advanced 1. The statement of income and expenses reports the company's income and expenses for the time period: it is also called a ..........-and-loss statement. profit win gain earnings Category: business-advanced 2. The first item on the statement is the total amount of sales of products or services; this is often referred to as .......... sales. whole mass overall gross Category: business-advanced 3. The main deduction from this revenue is called .......... of sales, the amount of money the company spent to produce the same goods or services. discount reduction expense cost Category: business-advanced 4. The next deduction is .......... expenses — for example, administrative salaries and research costs, which do not vary directly with production. fixed operating unproductive standard Category: business-advanced 5. Depreciation expenses the wear and .......... on assets like machinery, equipment and furnishings. repair tear change age Category: business-advanced 6. The depreciation charge for using these assets during the accounting period is a .......... of their original cost. fragment function foundation fractile Category: business-advanced 7. .......... income is the money that the company earns by keeping its cash in savings accounts, term deposits, etc. Illicit Internal Interest Inactive Category: business-advanced 8. Finally, .......... tax is deducted. business value-added commercial income Category: business-advanced 9. The final entry is the .......... line, which represents net earnings of the company during the accounting period. bottom black base balance Category: business-advanced 10. Additionally, .......... indicates how much shareholders would receive if the company distributed all of its net earnings as dividends. EPS VAT GDP GNP Your score is The average score is 0% LinkedIn Facebook Twitter Restart quiz Share0