Search Header Logo

Business Finance Formative Assessment

Authored by Madison Blankenship

Other

12th Grade

Used 2+ times

Business Finance Formative Assessment
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

53 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of Income according to the learning material?

The total amount of money generated from the sale of goods and services

The money received in exchange for labor and products

The amount of money left over after deducting all expenses from the total revenue generated by a business

The money generated after paying the variable costs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are Start-up Costs?

Expenses that fluctuate based on the number of units sold or produced

Expenses that must be paid before starting a new business

The costs and expenses directly associated with producing and fulfilling each product sold

An expense incurred during normal business operations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fixed Costs are described as:

Expenses that stay the same regardless of sales or production

The total amount of money generated from the sale of goods and services

Expenses that fluctuate based on the number of units sold or produced

The money generated after paying the variable costs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Variable Costs refer to:

The costs and expenses directly associated with producing and fulfilling each product sold

Expenses that stay the same regardless of sales or production

Expenses that fluctuate based on the number of units sold or produced

The total amount of money generated from the sale of goods and services

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an Operating Expense?

The profit after deducting costs to make and sell the goods and services

The money received in exchange for labor and products

An expense incurred during normal business operations

The amount of sales needed for a business to cover all costs and reach a point of no profit or loss

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cost of Goods Sold is defined as:

The total amount of money generated from the sale of goods and services

The money generated after paying the variable costs

The costs and expenses directly associated with producing and fulfilling each product sold

All costs incurred in the business operations, including fixed and variable costs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Gross Profit represent?

The total amount of money generated from the sale of goods and services

The money generated after paying the variable costs

The profit after deducting costs to make and sell the goods and services

The amount of money left over after deducting all expenses from the total revenue generated by a business

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?