Profit Quiz

What is profit?

• The difference between revenue and expenses.

• The total amount of money a company makes in a year.

• Loss incurred when expenses exceed revenue.

• Financial gain or benefit obtained when revenue exceeds expenses

How is profit calculated?

• Total revenue - Total expenses

• Total revenue x Total expenses.

• Total revenue + Total expenses.

• Total revenue / Total expenses.

If the cost price of an item is $50 and the selling price is $70, what is the profit?

• $40

• $20

• $30

• $10

If the cost price of an item is $80 and the selling price is $100, what is the profit?

• $15

• $20

• $10

• $25

If the cost price of an item is $120 and the selling price is $150, what is the profit?

• $40

• $20

• $30

• $10

If the cost price of an item is $200 and the selling price is $180, what is the profit or loss?

• Profit of $20.

• Loss of $10.

• Loss of $20

• Profit of $10.

If the cost price of an item is $90 and the selling price is $90, is there any profit or loss?

• Yes, there is a profit.

• Yes, there is a loss.

• It cannot be determined.

• No

If the cost price of an item is $60 and the selling price is $50, what is the profit or loss?

• Profit of $50.

• Loss of $10

• Loss of $50.

• Profit of $10.

If the selling price of an item is $150 and the profit earned is $50, what is the cost price?

• $100

• $200

• $150

• $50

What is loss?

• The difference between revenue and expenses.

• The total amount of money a company loses in a year.

• Financial loss incurred when expenses exceed revenue.

• Financial gain or benefit obtained when revenue exceeds expenses