Business Math Money Quick Review

Front

What is a cash receipt?

Back

A cash receipt is a document that acknowledges the receipt of cash, typically from sales or services rendered.

Front

What is a cash deficit?

Back

A cash deficit occurs when cash payments exceed cash receipts, resulting in a negative cash flow.

Front

How do you calculate the difference between two numbers?

Back

To calculate the difference, subtract the smaller number from the larger number.

Front

What is the result of $10.00 - $7.38?

Back

$2.62

Front

What is the result of 504,811 - 32,012?

Back

472,799

Front

What is the difference between 804 and 667?

Back

137

Front

How many apples are needed to make one gallon of apple cider?

Back

Approximately 30-40 apples.

Front

What does it mean to balance a budget?

Back

Balancing a budget means ensuring that total income equals total expenses, resulting in no deficit.

Front

What is the formula for calculating profit?

Back

Profit = Total Revenue - Total Expenses.

Front

What is a variable cost?

Back

A variable cost is a cost that changes in proportion to the level of goods or services produced.