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Unit 3 Finance Exam practice

Authored by Lindsey Montague

Business

11th - 12th Grade

Used 37+ times

Unit 3 Finance Exam practice
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30 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Revenue Expenditures are

external sources of finance from financial institutions

when a business sells off its unwanted or unused assets to raise funds.

money spent on the day-to-day running of the business, such as rent or insurance.

money spent on acquiring fixed assets for the business, such as machinery or buildings

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Revenue is

total sales - cost of goods sold

price x the # of units sold

price x contribution per unit

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following are medium-term sources of finance?

Trade credit

Overdraft

Leasing

Grants

Debt factoring

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Capital Expenditures are

money spent to acquire fixed assets for a business, such as machinery, land or buildings.

money spent on the day-to-day running of the business, such as wages or insurance.

an external source of finance from a financial institution

when a business sells off its unwanted or unused assets

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the following are internal sources of finance?

Loans

Sale of Assets

Personal savings

Overdrafts

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is retained profit?

profit that remains after a business has paid corporation tax to the government and dividends to shareholders

money raised from the sale of share of a limited company (when a business "goes public")

a source of finance for sole traders that comes mostly from their own personal savings

the portion of profit that the government takes from a business's revenue

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What are direct costs?

are costs that can be clearly attributed to the production of specific goods or services, such as raw materials

costs that have the same set amount from month-to-month, such as a rent payment.

are costs that are not ties to production but directly pay for overhead, such as the executive's salary.

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