Test your knowledge of double entry bookkeeping with our income statement quiz.
If you need a refresher course on this topic take a look at our basics of bookkeeping tutorials, and our income statement tutorial.
Start the Income Statement Quiz
Do the following transactions result in an increase in net income for the business. Answer Yes or No to each question. Click on your answer to reveal whether its Right! or Wrong.
Try Another Double Entry Bookkeeping Quiz
The income statement quiz is one of many of our online quizzes which can be used to test your knowledge of double entry bookkeeping, discover another at the links below.
- Quiz 39: Trial Balance Debit and Credit Quiz
- Quiz 58: Books of Prime Entry Quiz
- Quiz 43: Cash Flow Classification Quiz
- Quiz 44: Cash Receipts and Payments Transactions Quiz
About the Author
Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.