C3B Quiz Financials

• $200,000

• $800,000

• $100,000

• $500,000

Which of the following is an example of a fixed cost?

• Electricity bill

• Raw materials

• Rent for office space

• Shipping costs

What is the main difference between a debit card and a credit card?

• A debit card allows you to borrow money, while a credit card uses your own money.

• A debit card uses your own money, while a credit card allows you to borrow money.

• There is no difference; both cards do the same thing.

• A debit card has higher interest rates than a credit card.

If a business has a net income of $150,000 and pays a tax rate of 20%, what are the taxable profits?

• $30,000

• $120,000

• $150,000

• $180,000

What does annual turnover refer to?

• The total profit a company makes in a year.

• The total sales or revenue a company generates in a year.

• The number of employees that leave a company in a year.

• The total amount of inventory sold in a year.

If a company's revenue is 750,00 and its expenses are 600,000, what is the net profit?

• $150,000

• $1,350,000

• $450,000

• $750,000

Which of the following costs varies with the level of output or sales?

• Rent

• Salaries

• Raw materials

• Insurance

How is gross profit calculated?

• Revenue - Fixed Costs

• Revenue - Variable Costs

• Revenue - Cost of Goods Sold

• Net Profit + Taxes

What is the primary benefit of using a credit card over a debit card for purchases?

• Spending your own money directly

• Higher spending limits

• Short period of interest free lending

• Lower interest rates

If a company's gross profit is 200,000 and it's total costs are 50,000, what is its net profit before taxes?

• $150,000

• $250,000

• $50,000

• $200,000