SIE (Securities Industry Essentials) Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Ace your Securities Industry Essentials (SIE) Exam with Examzify! Our practice exam features flashcards, multiple-choice questions with detailed explanations, and insightful tips to ensure your success.

Start Multiple Choice Practice Test
Start Flash Cards

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which financial statement lists operating profit?

  1. Balance sheet

  2. Income statement

  3. Cash flow statement

  4. Statement of retained earnings

The correct answer is: Income statement

The income statement is the financial statement which lists operating profit. This statement provides a detailed breakdown of a company's revenues, expenses, and profits or losses over a specific period of time. The balance sheet, on the other hand, shows a company's assets, liabilities, and equity at a specific point in time. The cash flow statement reports the flow of cash in and out of a company during the reporting period. The statement of retained earnings shows changes in a company's retained earnings balance over time. Therefore, the income statement is the only financial statement that specifically lists operating profit.

More Questions Like This