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Net Loss: Definition & Formula

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is the net loss of a company that has total revenues of $25,000 and total expenses of $32,000?

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1. Which of the following statements regarding the calculation of net loss is true?

2. What is the formula for net loss?

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About This Quiz & Worksheet

This quiz and attached worksheet will gauge your understanding of how to properly calculate net loss. Topics you will need to firmly grasp in order to pass the quiz include calculating revenue, understand its relationship to the formula of net loss, and other accounting principles.

Quiz & Worksheet Goals

Use these assessment tools to apply your knowledge of:

  • The premise of the matching principle
  • Definition of the acronym GAAP
  • How to calculate net loss

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related calculating net loss lesson
  • Critical thinking - apply relevant concepts to examine information about calculating net loss in a different light
  • Problem solving - use acquired knowledge to solve calculating net loss problems
  • Knowledge application - use your knowledge to answer questions about net loss

Additional Learning

View the lesson on Net Loss: Definition & Formula to add to your knowledge of this topic. Learning objectives include:

  • Defining an income statement
  • Realizing a profit and loss statement
  • Understanding standards for calculating net loss
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