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Financial Concepts Quiz

Authored by Samuel Alder

Business

11th Grade

Used 2+ times

Financial Concepts Quiz
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45 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula to calculate 'GPM'?

Gross Profit / Net Sales

Net Profit / Total Assets

Operating Profit / Net Sales

Net Sales / Gross Profit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula to calculate 'current ratio'?

Current Assets / Current Liabilities

Total Assets / Total Liabilities

Current Liabilities / Current Assets

Net Income / Total Liabilities

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Define the term 'overdrafts'.

A loan taken from a bank

A deficit in a bank account caused by drawing more money than the account holds

A type of savings account

A fixed deposit account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula to calculate break-even?

Fixed Costs / (Selling Price per Unit - Variable Cost per Unit)

Total Revenue / Total Costs

Variable Costs / Fixed Costs

Selling Price per Unit / Fixed Costs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Describe the uses of the margin of safety calculation by a bakery.

To determine the maximum production capacity

To assess the risk of financial loss

To calculate the difference between actual sales and break-even sales

To evaluate employee performance

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Describe difficulties in budgeting.

Predicting future expenses accurately

Increasing sales revenue

Hiring new employees

Expanding product lines

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain non-financial factors leading to business failure.

Poor management decisions

High interest rates

Low profit margins

High production costs

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