
Financial Terminology
Quiz
•
Business
•
8th Grade
•
Practice Problem
•
Medium
Lucy Taylor
Used 2+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the key term for total revenue received by the enterprise
Cost of sales
Gross Profit
Turnover
Net Profit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which term describes the amount of money it costs to make the product (ingredients, packaging)
Turnover
Current Asset
Fixed Asset
Cost of sales
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which profit is this the money an enterprise makes from selling a product (once cost of sales have been deducted)
Retained Profit
Net Profit
Gross Profit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which profit is the money remaining after deducting expenses (expenditure) from gross profit
Retained Profit
Net Profit
Gross Profit
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which profit is the net profit that can be kept within the enterprise after paying out profit to the owners.
Gross Profit
Net Profit
Retained Profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
an item that enables products to be made and is not expected to be converted into cash any sooner than one years' time
Fixed Asset
Current Asset
Current Liability
Long-term liability
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
either cash or items that can be converted into cash easily
Fixed asset
Current Asset
Current liability
long-term liability
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