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Financial Accounting

The following sample questions do not appear on an actual CLEP examination. They are intended to give potential test-takers an indication of the format and difficulty level of the examination and provide content for practice and review. For more sample questions and information about the test, see the CLEP Official Study Guide.

Question 4 of 7

Which of the following appears separately, net of income tax, on an income statement?

  • A.

    Gross profit

  • B.

    Gain on sale of a truck

  • C.

    Interest expense

  • D.

    Loss on discontinued operations

  • E.

    Sales discount

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