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 flow statement?

• Money In

• Opening Balance

• Net Profit

• Money Out

Fixed costs _______ vary with production. (fill in the blank)

• Do
• May
• Sometimes
• Do not

Variable costs _______ vary with production. (fill in the blank)

• Do
• May
• Sometimes
• Do not

Which source of finance is internal?

• Government Grant
• Retained Profits
• Bank Loan
• Overdraft

A ______ can issue shares on the stock exchange to raise finance

• PLC
• Ltd
• Sole Trader
• Franchise

A _____ allows a business to spend more money than it has is their bank account.

• mortgage

• bank overdraft

• grant

• lease

No legal difference between the owners and the business =

• Unlimited liability

• Partial liability

• Limited liability

• Share capital

Which if the following is an example of a cash inflow?

• VAT payable

• Raw materials

• Cash sales

• Loan repayments