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BM3 Profit and Loss Account (or Income Statement)
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Slide 1:
Interactive video with 4 slides
Business Studies
Secondary Education
This lesson contains
5 slides
, with
interactive quizzes
and
1 video
.
Lesson duration is:
15 min
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Items in this lesson
4
Slide 1 - Video
00:00
For the IB Diploma Programme we do NOT study the:
A
Profit and Loss Account
B
Balance Sheet
C
Cash Flow Statement
Slide 2 - Quiz
01:20
Gross Profit is calculated by subtracting direct operating costs (Costs of Goods Sold) from:
A
indirect Operating Costs (or Overheads)
B
Operating revenue or gross sales
C
Gross profit
D
Operating profit
Slide 3 - Quiz
01:40
The bottom line (net profit or loss) is obtained by subtracting indirect non-operating costs (e.g. rent) from:
A
Operating Profit
B
Gross sales
C
Taxes
D
Overheads
Slide 4 - Quiz
03:49
Cost of sales or Cost of Goods Sold is:
A
A current liability
B
Equity
C
Indirect Operating Cost
D
Direct Operating Costs
Slide 5 - Quiz
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