ESB VS2 Domain 4

ESB VS2 Domain 4

9th - 12th Grade

57 Qs

quiz-placeholder

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ESB VS2 Domain 4

ESB VS2 Domain 4

Assessment

Quiz

Other

9th - 12th Grade

Hard

Created by

Lynda Pannelli

Used 43+ times

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57 questions

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1.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

A(n) _________________ refers to the net profit the company wants to make from the sale and is usually represented using a percentage. [Selling Price]

2.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

A(n) ______ price represents how much money it costs a business to make or obtain the products or how much it costs a business to perform the service. [Selling Price]

3.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

A(n) ________________ is a financial report that shows a company's assets, liabilities, and equity for a specific period. [Basic Financial Statements]

4.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

_____________ is the owner's remaining value after all liabilities have been deducted. [Basic Financial Statements]

5.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

A(n) _________ statement, also known as a profit and loss statement, shows the total revenues and expenses for a specific period. [Basic Financial Statements]

6.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

The ______________ point is the amount of revenue required to cover expenses. [Basic Financial Statements]

7.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

The formula to determine the selling price is: (cost x desired profit margin) + cost. Dividing the percentage by 100 converts the desired profit margin to a decimal.

Ben owns a shoe store. He has a new line of limited-edition running shoes that he will be selling in his store soon. The cost of manufacturing the shoes was $18 per pair, and he wants to make a 20% profit on each pair he sells. What is Ben’s selling price?

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