Entrepreneurship - Finance Vocab

Entrepreneurship - Finance Vocab

9th - 12th Grade

15 Qs

quiz-placeholder

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Entrepreneurship - Finance Vocab

Entrepreneurship - Finance Vocab

Assessment

Quiz

Life Skills

9th - 12th Grade

Medium

Created by

Rachael Baudendistel

Used 94+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an expense?

money made from products/services

money spent on resources for the business

a budget

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A variable expense differs from a fixed expense because...

it stays the same

they are the same

it changes

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of a fixed expense?

delivery expenses

labor

insurance

materials

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an example of a variable expense?

salaries

labor

rent

interest

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The amount of product (or service) you use to figure your operations and profit.

unit of sale

materials

variable expense

profit

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Economics of one Unit of Sale =

Profit (Loss) = Sales price - cost

Revenue = Sales price - cost

Profit = Revenue - Sales

Contribution Margin = Selling price - variable expenses

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If a company has economies of scale, they are able to

spread costs over a larger volume of product

spread costs over a smaller volume of product

buy less material and sell more

buy more material and sell more

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