Financial Terms, Statements and Calculations Quiz

Is the income from selling products.

• Revenue

• Price

• Sales

• Costs

Amount a business asks a customer to pay for a single product.

• Revenue

• Price

• Sales

• Costs

Number of products sold by a business over a period of time.

• Revenue

• Price

• Sales

• Costs

spending that is necessary to set up and/or run a business.

• Revenue

• Price

• Sales

• Costs

Costs that vary depending on a businesses output.

• Variable Costs

• Fixed Costs

• Total Costs

• Expansive Costs

Costs that do not change when a business changes it output.

• Variable Costs

• Fixed Costs

• Total Costs

• Expansive Costs

Fixed + Variable Costs =

• Total Revenue

• Total Profit/Loss

• Total Costs

• Net Costs

If a business's revenues are greater than its total costs then it making a....

• Loss

• Profit

• Increase in revenue

• Deficit

A business total costs are greater than the revenues earned by the business. It is said the business is making a ....

• Loss

• Profit

• Increase in revenue

• Deficit

Which is NOT a valid reason for a businesses investing?

• Land and Labour

• Machinery and Vehicles

• New Products

• Reduces Staffing Costs