Chapter 4 Vocab

Chapter 4 Vocab

11th Grade

22 Qs

quiz-placeholder

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Chapter 4 Vocab

Chapter 4 Vocab

Assessment

Quiz

Business

11th Grade

Practice Problem

Hard

Created by

Brittany Morgan

Used 2+ times

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22 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

the combined income generated from the sale of goods and services

revenue

cost of goods sold

gross profit

operating expenses

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

refers to the direct costs associated with production of a product, including the raw materials used to make it and any labor costs.

revenue

cost of goods sold

gross profit

operating expenses

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

  • the difference between revenue and cost of goods sold-in other words, the amount of money that a retailer makes before accounting for expenses.

revenue

cost of goods sold

gross profit

operating expenses

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

sometimes referred to as overhead, are the expenditures retailers incur during the course of normal business operations, such as rent and staff salaries.

revenue

cost of goods sold

gross profit

operating expenses

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

is the difference between revenue and expenses, including all of the expenses of buying product and producing any products and operating the company.

revenue

net profit

gross profit

operating expenses

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

  • is the difference between the price an item is sold for and the price the retailer paid for the item. 

profit margin

net profit

gross profit

operating expenses

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

  • is the percentage by which the revenue from sales exceeds business costs for items

profit margin

net profit

gross profit

profit margin percentage

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