Profit and Loss

the money you have left after paying for business expenses.

• loss

• price

• profit

• cost

neither make a profit nor lose money

• loss

• make profit

• break even

Maria sold a bicycle for $ 24900 at a profit of $ 600. Find the price at which she bought it.

• $ 24300

• $ 600

• $ 24900

Ron has a cycle worth $ 1800 and he wants to sell it at a profit of $ 220. What should cycles selling price be?

• $ 1800

• $ 2020

• $ 900

the amount of money your business earns after deducting all operating, interest, and tax expenses over a given period of time.

• variable costs

• overhead costs

• net profit

Nora bought her home in 2002 for $310,000. She sold her home in 2012 for $650,000. What profit did she make?

• $300,000

• $330,000

• $340,000

How often is a profit and loss statement issued?

• once in a fiscal period

• twice in a fiscal period

• twelve times in a fiscal period

• anytime in a fiscal period

Another word for ‘profit’ is

• earnings

• dividends

• turnover

• active

What is the term for the money you have left after paying for business expenses?

• loss

• price

• profit

• cost

What does it mean to neither make a profit nor lose money?

• loss

• make profit

• break even