Quiz 2: Are you able to manage finance?

Remain fixed over time, regardless of production volume or usage (e.g. rent)

• Fixed cost

• Variable cost

• Budget

• Income statement

-------- Vary with production volume or usage (e.g telephone, material costs

An estimate of your revenue (Income) and Expenses is --

• Balance Sheet

• Income statement

• Budget

• Assets

When your revenue = total costs

The assumptions of break even are :

• •Price remain the same

  •Variable costs varies proportionately with output

  •Fixed costs remain same

  •Enterprise will sell all units

• •Price remain the same

  •Variable costs varies proportionately with output

  •Fixed costs remain same

  •Enterprise will no be same

• •Variable costs varies proportionately with output

  •Fixed costs remain same

  •Enterprise will sell all units

--------- Process of identifying, measuring and communicating economic information required for informed decision making.

The four types of accounting are:

• •Financial Accounting

  •Management Accounting

  •Auditing

  •Tax Accounting

• •Financial Accounting

  •Management Accounting

  •Auditing

  •Income statement

• •Financial Accounting

  •Budget

  •Balance sheet

  •Income statement

Salary and phone bills are examples of

Rent is an examples of

I can understand the basics of planning and managing finance in my organization

• Strongly agree

• Agree

• Not clear

• This is not my cup of tea?