GCSE Business OCR Finance 5.1 - 5.4

What is the formula for revenue?

• Price of product x number sold

• Price of products - number sold

• Number sold x costs

• Price x costs

What is gross profit?

• Money coming in - all costs

• Revenue - costs of making product

• Revenue + costs

• Money going out + money coming in

Net profit is...

• Revenue + gross profit

• Gross profit + costs

• Gross profit - all other costs

• Revenue + gross profit

A business makes a loss when...

• Costs are less than revenue

• Money coming in = money going out

• Gross profit=Net profit

• Costs are higher than revenue

Tea towels are £1.50 each. 2000 are sold. What is the revenue?

• £2500

• £4000

• £3000

• £2000

Revenue is £5000 from the sale of CDs. Costs of making the CDs is £1234. What is the gross profit?

• £3766

• £3767

• £3667

• £3777

Revenue= £6000. Costs of making the product are £3000. Running costs are £2000. What is the net profit?

• £1500

• £1000

• £3000

• £2000

Puppets are £11.50 to buy. They cost £5 to make. What is the gross profit per puppet?

• £5.50

• £7.50

• £6.00

• £6.50

A t shirt is £20 to buy. 1000 are sold. They cost £3 each to make. Running costs are £4000. What is the net profit?

• £10000

• £13000

• £11000

• £12000

Mugs cost £3.75 to buy. They cost 50p to make. What is the revenue when 80 are sold?

• £270

• £280

• £260

• £250