Test your knowledge of double entry bookkeeping with our income statement quiz.
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 59: Accounting Debits and Credits Quiz
- Quiz 60: Straight Line Method of Depreciation
- Quiz 51: Assets Liabilities Equity
- Quiz 43: Cash Flow Classification Quiz
About the Author
Chartered accountant Michael Brown is the founder and CEO of Plan Projections. 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 BSc from Loughborough University.