
Entrepreneurship
Flashcard
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Others
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KG
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Hard
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4 questions
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1.
FLASHCARD QUESTION
Front
It is the result when sales exceed the cost to produce goods or render the services. It is also recognized when earned, whether paid in cash or charged to the account of the customer.
Back
REVENUE
2.
FLASHCARD QUESTION
Front
Nathaniel sells bottled water in a nearby city bus terminal. Every day he can sell 30 pieces of bottled water at 20 pesos each. How much is Nathaniel’s daily sales?
Back
PHP 600
Answer explanation
FORMULA:
REVENUE (DAILY) = SELLING PRICE x QUANTITY SOLD
REVENUE = PHP 20 x 30pcs
REVENUE = PHP 600
3.
FLASHCARD QUESTION
Front
This refers to the amount added to the cost of a product to determine the selling price.
Back
MARK-UP
4.
FLASHCARD QUESTION
Front
Aling Elvie sells t-shirt at 175.00 pesos each. If each t-shirt costs 135.00 pesos, how much is the mark-up?
Back
PHP 40
Answer explanation
FORMULA:
MARK-UP PRICE = SELLING PRICE - COST
MARK-UP PRICE = PHP 175 - PHP 135
MARK-UP PRICE = PHP 40
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