1.3.2 - Business revenues, costs and profits (PART B)

1.3.2 - Business revenues, costs and profits (PART B)

9th - 10th Grade

13 Qs

quiz-placeholder

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1.3.2 - Business revenues, costs and profits (PART B)

1.3.2 - Business revenues, costs and profits (PART B)

Assessment

Quiz

Business

9th - 10th Grade

Hard

Created by

P Bell

Used 39+ times

FREE Resource

13 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The table below gives information about two different products sold by a business.

Based on this information, which one of the following is the correct sales price per unit for product B?

£2.50

£1.25

£0.80

£0.40

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

A break even diagram for Business X is shown here.

Based on this information, which one of the following is the correct value of its fixed costs at 3,000 units?

£20,000

£40,000

£50,000

£90,000

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Using the break even diagram, if Business X’s actual sales were 3,000 units, which one of the following would be its correct margin of safety?

0 units

1,000 units

2,000 units

3,000 units

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A business has an agreed overdraft limit of £10,000, which it has used 75% of, on average, throughout the year. The interest rate on the overdraft facility is 15% per annum. Which one of the following represents the amount of interest the business paid this year on its overdraft?

£1,125

£1,500

£7,500

£8,625

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The graph 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

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

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