N5 Bus Man - Finance

Profit before expenses

• Profit for year

• Gross Profit

• Sales Revenue

• Income

Cost of raw materials

• Production cost

• Fixed cost

• Expense

• Loss

Which of the following are fixed costs

• Advertising

• Raw materials

• Wages

• Salaries

Break even is at

• total revenue = total income

• total cost = total fixed costs

• total cost = total variable cost

• total revenue = total cost

What is the name of the financial document?

• Cash Budget

• Statement of Financial Position

• Profit Statement

• Income Statement

How do you calculate the Profit for the year?

• Gross profit less production costs

• Sales revenue less production costs

• Sales revenue less expenses

• Gross profit less expenses

identify the sources of finance that do not need to be repaid

• share issue

• bank loan

• mortgage

• grant

Identify the name of this financial statement.

• cash flow

• income statement

• cash budget

• bank statement

Which sources of finance has an asset secured against it?

• bank loan

• hire purchase

• grant

• mortgage

If the BEP is 50 units and Mrs Thomson sold 45 she would make a profit. True or flase?

• True

• False