Day 1 Webinar Quiz

The amount of goods/services sold, in terms of cost to company.

Income statement structure might vary depending on the type of business, except

Net Income is the overall profit of the business less all expenses and taxes.

Before the computation, step 1 is to Identify Income Accounts and disregard the others.

What is the formula in computing Operating Profit Margin?

What is the formula in computing Net Profit Margin

What is the formula in computing Gross Profit Margin?

Income Statement is a document that states the financial summary of a business in terms of revenues and expenses.

Net Income and Net Revenue are the same.

The accounts we will use for computation are net revenue, gross profit, operating profit, and net income.

Microsoft Excel is the easiest platform to do the computation faster

Interest Expenses are subtracted expenditures paid on top debts. ​

Composes the structure of an Income Statement, except

There are only 3 steps for faster computation

How to analyze the answers to determine if the business is profitable.

Represents the total amount of goods/services sold in terms of price paid by the customers.

Net Profit Margin is used to calculate the percentage of profit a company produces from its total revenue.

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Operating Profit Margin establishes the relationship between operating costs and Revenue from Operations.

Tax Expenses represent the taxes paid for the entire fiscal year.​