Finance - C3

When is a delivery note used?

• When goods are delivered to the employee

• When goods are delivered to the seller

• When goods are delivered to the supplier

• When goods are delivered to the buyer

When is a purchase order used?

• When a buyer orders goods from a customer

• When a buyer orders goods from a seller

• When a buyer orders goods from a buyer

• When a buyer orders goods from a trade debtor

When is a goods received note used?

• When goods are received by the seller

• When goods are received by the government

• When goods are received by the shareholder

• When goods are received by the buyer

When is a credit note used?

• When a customer returns their goods to the seller

• When a seller returns their goods to the buyer

• When a buyer orders goods from the seller

• When goods are received by the buyer

What does an invoice show?

• What the seller has ordered and how much they owe to the buyer

• What the buyer has ordered and how much they owe to the seller

• What the employee has ordered and how much they owe to the entrepreneur

• What the shareholder has ordered and how much they owe to the enterprise

What is a receipt?

• A document that provides proof of a refund

• A document that provides proof of purchase

• A document that provides proof of delivery

• A document that provides proof of customer satisfaction

What is a statement of account?

• It records all the cash inflows and outflows for a business

• A document that records when a product has been delivered

• A summary of transactions between the buyer and the seller

• It is a type of employment contract

What is the break even formula?

• Fixed costs / ( Variable costs per unit - Selling price per unit)

• Start up costs / (Selling price per unit - Variable costs per unit)

• Fixed costs / (Selling price per unit - Variable costs per unit)

• Variable costs / (Selling price per unit - Fixed costs per unit)

What is the total costs formula?

• Total costs = Fixed costs / variable costs

• Total costs = Fixed costs - variable costs

• Total costs = Fixed costs x variable costs

• Total costs = Fixed costs + variable costs

What is the formula for total revenue?

• Total revenue = Price per unit / amount of units sold

• Total revenue = Price per unit - amount of units sold

• Total revenue = Price per unit + amount of units sold

• Total revenue = Price per unit x amount of units sold