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HBM - Finance PC Revision

HBM - Finance PC Revision

Assessment

Presentation

Business

11th - 12th Grade

Medium

Created by

Jessica Suk Ching Martin

Used 3+ times

FREE Resource

12 Slides • 16 Questions

1

HBM - Finance PC Revision

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2

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4

Multiple Choice

I would use a financial statement to ensure my job is secure.

1

employee

2

HMRC

3

trade union

4

lender

5

trade payable

5

Multiple Choice

I would use a financial statement to ensure the company is paying the right amount of tax.

1

government

2

HMRC

3

trade union

4

lender

5

trade payable

6

Multiple Choice

I would use a financial statement to see if current performance is worthy of more investment

1

shareholder

2

HMRC

3

trade union

4

lender

5

trade payable

7

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8

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9

Multiple Select

What is the purpose of an Income Statement?


(Choose all that apply)

1

shows profit/loss made

2

shows all the items a business owes and owns

3

shows the cash inflows and outflows

4

can be used for decision making

10

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11

Multiple Choice

Amount of money spent on selling goods

1

sales revenue

2

cost of sales

3

gross profit

4

expenses

5

profit for the year

12

Multiple Choice

Gross profit - expenses = ??

1

sales revenue

2

cost of sales

3

gross profit

4

expenses

5

profit for the year

13

Multiple Choice

Amount made from selling goods/services.

1

sales revenue

2

cost of sales

3

gross profit

4

expenses

5

profit for the year

14

Multiple Choice

Examples include: wages, advertising, rents & rates, heating & lighting.

1

sales revenue

2

cost of sales

3

gross profit

4

expenses

5

profit for the year

15

Multiple Choice

The profit made from buying and selling.

1

sales revenue

2

cost of sales

3

gross profit

4

expenses

5

profit for the year

16

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17

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18

Multiple Choice

Compare assets and liabilities:

1

Assets are owned by the company whereas liabilities are items owed.

2

Assets are owned by the company. Liabilities are items owed.

3

Assets are items owed by the company whereas liabilities are items owned.

4

Assets are items owed by the company. Liabilities are items owned.

19

Multiple Choice

Compare net assets and equity & reserves:

1

Net assets show the overall value of the business whereas E&R shows how the business has been financed.

2

Net assets shows how the business has been financed whereas E&R shows the overall value of the business.

3

Net assets show the overall value of the business. E&R shows how the business has been financed.

4

Net assets shows the assets whereas E&R shows the equity and reserves.

20

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22

Multiple Choice

Distinguish between GP % (Gross Profit) and PFY (Profit for the Year) %.

1

both GP% and PFY% can be improved by increasing the sales figure

2

GP% shows the ability to pay back short-term debts whereas PFY% shows the ability to pay back in a crisis situation.

3

GP% measures % profit made from buying and selling whereas PFY% shows % profit once expenses are deducted.

23

Multiple Select

What is the best way to improve your Gross Profit Percentage?


(Choose all the correct answers)

1

Increase prices

2

Cheaper supplier

3

Reduce expenses

4

Reduce current liabilities

24

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25

Multiple Choice

Distinguish between current ratio (CR) and acid test ratio (ATR).

1

Both CR and ATR show the ability of the firm to pay back debts as it shows liquidity.

2

CR shows the ability to pay back short-term debts whereas ATR shows the ability to pay back in a crisis situation.

3

CR shows current assets whereas ATR does not.

26

Multiple Select

What is the best way to improve your Acid Test Ratio?


(Choose all the correct answers)

1

use JIT

2

increase current assets

3

reduce expenses

4

increase profit for the year

27

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28

Multiple Select

What are the best ways to improve your rate of inventory turnover ratio?


(choose all the correct answers)

1

Use JIT

2

Sell excess stock

3

Negotiate sale or return with supplier

4

Increase sales

5

Decrease current liabilities

HBM - Finance PC Revision

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