Finance

A card that borrows money but it has to be paid back

• Debit Card 
• Credit Card 
• Baseball Card 
• Pokemon Card 

A card that uses money directly from your bank account

• Debit Card 
• Credit Card 
• Pokemon Card 
• Baseball Card 

The maximum amount the lender is willing to make available to the borrower.

• Credit Limit
• Credit History
• Creditor
• Debit Limit 

An agreement between a borrower and a lender, where the borrower agrees to repay money with interest over time.

• Loan 
• Interest 
• Income 
• Deposit  

How do we calculate total costs?

• Fixed Costs - Variable Costs
• Total Revenue - Fixed Costs
• Variable Costs x Total Revenue
• Fixed Costs + Variable Costs

What happens at Break Even Point?

• Company makes neither profit nor loss
• Company makes profit
• Company makes loss
• Company goes bankrupt

Sales - Cost of Sales = ???

• Money In
• Net Profit
• Expenses
• Gross Profit

Gross Profit - ??? = Net Profit

• Expenses
• Sales
• Cost of Sales
• Money Out

Which of these does not belong on a cash budget?

• Money In
• Opening Balance
• Net Profit
• Money Out

Which of the following is not a feature of a Government Grant?

• Awarded as one off payment
• Subject to limitations and restrictions
• Repaid in monthly instalments
• Must be used for specific purpose