Progress Check - Finance

What is the total cost formula?

• Total cost / Total revenue

• Total cost - Total revenue

• Total fixed cost - Total variable cost

• Total fixed cost + Total variable cost

What is the formula for calculating total revenue in finance for business?

• Price + Quantity sold

• Price - Quantity sold

• Price / Quantity sold

• Price x Quantity sold

What is the main reason for a business to get external finance or a loan?

• To plan for surpluses of cash

• To make sure they can pay their expenses

• To predict cash outflows

• To increase profits

What is an advantage of accessing immediate money through a loan?

• The money has to be applied for

• The loan will incur interest

• The money needs to be paid back every month

• Repayments would be known in advance

Jasmine has a sweet shop, her total costs are £87,927, her total revenue was £134,259. What was her gross profit?

Mathematical Equivalence

OFF

An example of a cash inflow is​ (a)   ​

• Selling unused machinery
• Buying Promotional Materials
• Paying electricity bills
• Purchasing stock

Order the following in terms of their size

• Net Profit

• Gross Profit

• Revenue

• Drawings

Organise these costs into the right categories

Groups:

(a) Fixed Cost

,

(b) Variable Cost

• Packaging

• Rent

• Fuel

• Purchasing Equipment

• Stock

• Salaries

• Utility Bills

• Marketing

• Hourly Wage

• Buying Premises

• Insurance

Money in from sales of goods and services is known as _______