ESB V2 Domain 4 Lesson 1

Front

A(n) _________________ refers to the net profit the company wants to make from the sale and is usually represented using a percentage. [Selling Price]

Back

profit margin

Front

A(n) ______ price represents how much money it costs a business to make or obtain the products or how much it costs a business to perform the service.

Back

cost

Front

A(n) ________________ is a financial report that shows a company's assets, liabilities, and equity for a specific period. [Basic Financial Statements]

Back

balance sheet

Front

_____________ is the owner's remaining value after all liabilities have been deducted. [Basic Financial Statements]

Back

Equity

Front

A(n) _________ statement, also known as a profit and loss statement, shows the total revenues and expenses for a specific period.

Back

income

Front

The ______________ point is the amount of revenue required to cover expenses. [Basic Financial Statements]

Back

break-even

Front

What is Ben’s selling price for the limited-edition running shoes if the cost is $18 and he wants to make a 20% profit?

Back

$21.60

Front

What is Adam’s selling price for a new dish with a cost of $6.75 and a desired profit margin of 33%?

Back

$8.98

Front

Cory owns a home goods store. He is about to add a new line of candles to his store. The cost of manufacturing the candles is $8.46 per candle, and he wants to make a 52% profit on each candle. What is Cory’s selling price?

Back

$12.86

Front

What is Mallory’s equity if she has $12,000 in cash, $8,000 in inventory, a $4,000 credit card balance, and $3,500 in long-term debt?

Back

$12,500