1.3.2 - Business revenues, costs and profits (PART A)
Authored by P Bell
Business
9th - 10th Grade
Used 76+ times
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following best describes a fixed cost?
Changes directly with output
Stays the same regardless of output
Only needs to be paid once, when the business first starts-up
Needs to be paid once a month
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sales price x quantity is the formula for which of the following?
Profit
Total costs
Revenue
Total variable costs
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The table below gives information about Business A.
Based on this information, Business A’s total fixed costs are:
£10,000
£30,000
£40,000
£70,000
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A break even diagram for Business Y is shown here.
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
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If the actual sales of the business is 2,500 units, its margin of safety is:
0 units
500 units
1,500 units
1,800 units
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At zero output on a break even diagram, the total cost line will always start:
At zero on both axes
Where the variable cost line starts
Where the fixed cost line starts
Where the total revenue line starts
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