Quick fire 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 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

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

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

Organise these costs into the right categories

Groups:

(a) Fixed Cost

,

(b) Variable Cost

• Hourly Wage

• Rent

• Packaging

• Buying Premises

• Utility Bills

• Purchasing Equipment

• Marketing

• Fuel

• Salaries

• Insurance

• Stock

Money in from sales of goods and services is known as (a)  

How is net profit calculated in business finance?

• Total revenue / Total expenses

• Total revenue x Total expenses

• Total revenue + Total expenses

• Total revenue - Total expenses

What is the break-even point in financial terms?

• When total revenue equals total cost

• When total revenue exceeds total cost

• When total cost exceeds total revenue

• When total fixed cost equals total variable cost

What is the formula for calculating gross profit?

• Total revenue x Total cost of goods sold

• Total revenue / Total cost of goods sold

• Total revenue + Total cost of goods sold

• Total revenue - Total cost of goods sold

What is the formula for calculating operating profit?

• Gross profit - Operating expenses

• Gross profit / Operating expenses

• Gross profit x Operating expenses

• Gross profit + Operating expenses