Unit 3 SOCI
Interactive Video
•
Business
•
Vocational training
•
Practice Problem
•
Hard
David Allen
Used 2+ times
FREE Resource
21 questions
Show all answers
1.
SLIDE QUESTION
30 sec • Ungraded
2.
SLIDE QUESTION
30 sec • Ungraded
3.
SLIDE QUESTION
30 sec • Ungraded
4.
MATH RESPONSE QUESTION
2 mins • 1 pt
Argos sells 50 PS6’s at £575 each, what is their sales revenue?
Mathematical Equivalence
OFF
Answer explanation
Answer: (50 x £575) = £28,750
5.
FILL IN THE BLANKS QUESTION
2 mins • 1 pt
The sales revenue of a shop selling cakes is £19,550 a month. They sold 2300 cakes.
How much did they sell each cake for?
(a)
Answer explanation
Answer: (£19,550 / 2300) £8.50 per cake
6.
MATH RESPONSE QUESTION
2 mins • 1 pt
A café has £15,800 stock in the fridges and freezers at the start of the year. During the year they purchase £68,100 more stock to sell. At the end of the year they had £5,300 of stock left over.
What is the cost of their goods sold?
Mathematical Equivalence
ON
Answer explanation
Opening inventory £15,800
+ Purchases £68,100
- Closing inventory £5,300
= COST OF GOODS SOLD £78,600
£15,800 + £68,100 = £83,900 - £5,300 = £78,600
7.
MATH RESPONSE QUESTION
2 mins • 1 pt
Your friend has calculated the cost of goods sold for their business at £35,362. They currently have £7,680 of stock left. They have found their receipts for their purchases this year which total £30,212.
What was the value of their opening inventory?
Mathematical Equivalence
ON
Answer explanation
Opening inventory 12,830
+ Purchases £30,212
- Closing inventory £7,680
= COST OF GOODS SOLD £35,362
£35,362 (COGS) + £7,680 (CI) – £30,212 (Purch) = £12,830 (OI)
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Microsoft
or continue with
%20(1).png)
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
