Btec Tech Award Enterprise Component 3 Statement of Comprehensive Income

What is the purpose of the Statement of Comprehensive Income

• To show how much profit or loss has been made

• To state how comprehensive the income is

• To show what the business owns

• For fun :)

What item appears at the top of a statement of comprehensive income?

• Expenses

• Gross Profit

• Cost of sales

• Sales Revenue

Clare has a business making ice cream. She sells 5 litre tubs to cafes. In March she sold 400 tubs. Each tub sold for £10, the cost of the ingredients was £4 per tub and the packaging 50p per tub. She has expenses of £1500. How much is her sales revenue?

• £10

• £1000

• £4000

• £2500

Clare has a business making ice cream. She sells 5 litre tubs to cafes. In March she sold 400 tubs. Each tub sold for £10, the cost of the ingredients was £4 per tub and the packaging 50p per tub. She has expenses of £1500. How much is her Cost of Sales?

• £1000

• £1800

• £2200

• £4000

Clare has a business making ice cream. She sells 5 litre tubs to cafes. In March she sold 400 tubs. Each tub sold for £10, the cost of the ingredients was £4 per tub and the packaging 50p per tub. She has expenses of £1500. How much is her Gross Profit?

• £1000

• £1800

• £2200

• £4000

Clare has a business making ice cream. She sells 5 litre tubs to cafes. In March she sold 400 tubs. Each tub sold for £10, the cost of the ingredients was £4 per tub and the packaging 50p per tub. She has expenses of £1500. What is her Gross Profit Margin?

• 33%

• 44%

• 55%

• 66%

Clare has a business making ice cream. She sells 5 litre tubs to cafes. In March she sold 400 tubs. Each tub sold for £10, the cost of the ingredients was £4 per tub and the packaging 50p per tub. She has expenses of £1500. How much is her Net Profit?

• £700

• £1500

• £1800

• £2200

Clare has a business making ice cream. She sells 5 litre tubs to cafes. In March she sold 400 tubs. Each tub sold for £10, the cost of the ingredients was £4 per tub and the packaging 50p per tub. She has expenses of £1500. How much is her Net Profit Margin?

• 12.5%

• 15.5%

• 17%

• 17.5%

Clare wants to increase her Gross Profit - which of the following is NOT a way to achieve this

• Selling more

• Putting the price up

• Lowering the cost of sales

• Lowering expenses

Clare would like to increase her Net Profit Margin - which is the following would NOT help her do this

• Selling more

• Putting the price up

• Cutting expenses

• Cutting the cost of sales