Business Calculations Gap Map

The table above gives information about Business A. Based on this information, Business A's total fixed costs are:

• £10,000

• £30,000

• £40,000

• £70,000

The line with a value of £50,000 at an output of 3,000 units is called:

• Total revenue

• Total costs

• Fixed costs

• Total variable costs

With reference to the break even diagram, Business Y's break even point is:

• 700 units

• 1,000 units

• 2,000 units

• 3,000 units

A small business takes out a bank loan of £7,000. The loan will be repaid over 5 years, with a monthly repayment of £125. The total interest the business will pay for this loan as a percentage of the total amount borrowed is:

• 6.67%

• 7.14%

• 93.33%

• 98.25%

Which of the following is the correct formula to calculate total sales revenue?

• Selling price per unit x output sold

• Total fixed costs + total variable costs

• Unit cost x output

• Total inflows - total outflows

The graph above shows the number of customers that visited a hairdressing business during one trading week. The average sales price per customer is £30. Based on this information, the business's average daily trading revenue to the nearest £ is:

• £43

• £909

• £1,272

• £6,360

Last year, a business made £300,000 profit from sales revenue of £750,000. Its total variable costs equalled £125,000. The value of the business's fixed costs was:

• £175,000

• £325,000

• £450,000

• £625,000

A business takes out a bank loan of £15,000. The loan will be repaid over 3 years, with a monthly repayment of £500. The total interest the business will pay for this loan is:

• £1,500

• £3,000

• £15,500

• £18,000

An extract from a business's cash flow forecast from March is shown above. Based on this information, the opening balance for April will be:

• (£4,333)

• (£14,333)

• £109, 641

• £119,641

An extract from a business's cash flow forecast for June and July is shown in the table above. Based on this information, the closing balance for July will be:

• £98,000

• £150,000

• £174,000

• £320,000