Business Math

Throughout the book, what does Rufus use to help him figure out business details?

• Math

• Art

• English

• Writing

A plan for how to manage your money is called a ?

• income

• budget

• expense

• investment

The cost of borrowed money, usually expressed as a percentage.

• interest

• savings plan

• scarce

• purchase

What is variable expense?

• The amount of money you spend

• The amount of money you save

• An expense that costs different amounts every month

• The variable in math

the amount of money a person can earn by being self-employed or by doing a job for another person or business

• income

• scarce

• interest

• lend

paying for something with money that is borrowed and must be paid back, usually with interest

• credit

• income

• resources

• salary

What is the primary purpose of a business budget?

• To track personal expenses

• To plan for future financial goals

• To calculate taxes

• To determine employee salaries

Which of the following is a fixed cost for a business?

• Raw materials

• Utility bills

• Rent

• Sales commissions

What is the formula for calculating profit in a business?

• Revenue - Expenses

• Assets - Liabilities

• Income + Expenses

• Revenue + Liabilities

Which term describes the total amount of money a business earns before expenses?

• Net income

• Gross income

• Net profit

• Operating income