WorksheetsFinance
Total questions: 20
Worksheet time: 13mins
Name
Class
Date
1.
A card that borrows money but it has to be paid back
a)
Debit Card
b)
Credit Card
c)
Baseball Card
d)
Pokemon Card
2.
A card that uses money directly from your bank account
a)
Debit Card
b)
Credit Card
c)
Pokemon Card
d)
Baseball Card
3.
The maximum amount the lender is willing to make available to the borrower.
a)
Credit Limit
b)
Credit History
c)
Creditor
d)
Debit Limit
4.
An agreement between a borrower and a lender, where the borrower agrees to repay money with interest over time.
a)
Loan
b)
Interest
c)
Income
d)
Deposit
5.
How many digits are in a bank account number?
a)
4
b)
6
c)
8
d)
16
6.
How do we calculate total costs?
a)
Fixed Costs - Variable Costs
b)
Total Revenue - Fixed Costs
c)
Variable Costs x Total Revenue
d)
Fixed Costs + Variable Costs
7.
What happens at Break Even Point?
a)
Company makes neither profit nor loss
b)
Company makes profit
c)
Company makes loss
d)
Company goes bankrupt
8.
Sales - Cost of Sales = ???
a)
Money In
b)
Net Profit
c)
Expenses
d)
Gross Profit
9.
Gross Profit - ??? = Net Profit
a)
Expenses
b)
Sales
c)
Cost of Sales
d)
Money Out
10.
Which of these does not belong on a cash budget?
a)
Money In
b)
Opening Balance
c)
Net Profit
d)
Money Out
11.
Which of the following is not a feature of a Government Grant?
a)
Awarded as one off payment
b)
Subject to limitations and restrictions
c)
Repaid in monthly instalments
d)
Must be used for specific purpose
12.
Revenue is ...
a)
Money made from selling products
b)
Money paid to suppliers for materials
c)
Expenses x Units produced
d)
Monthly rent payments to landlord
13.
A mortgage is used for ...
a)
Buying a new machine
b)
Buying a new vehicle
c)
Buying land or premises
d)
Paying staff wages
14.
Fixed costs _______ vary with production. (fill in the blank)
a)
Do
b)
May
c)
Sometimes
d)
Do not
15.
Variable costs _______ vary with production. (fill in the blank)
a)
Do
b)
May
c)
Sometimes
d)
Do not
16.
A _________ is a plan or forecast of how much money you will have, and how you will spend it.
a)
Profit Statement
b)
Job Cost Statement
c)
Cash Flow Report
d)
Cash Budget
17.
Which source of finance is internal?
a)
Government Grant
b)
Retained Profits
c)
Bank Loan
d)
Overdraft
18.
A job cost statement is produced to ...
a)
Predict how much money we'll make next year
b)
Tell us how much net profit we made
c)
Produce a quotation for the cost of a job
d)
Calculate wage payments for a month
19.
What is added to a job cost statement to allow for profit?
a)
Profit percentage
b)
Profit extra
c)
Profit inclusion
d)
Profit markup
20.
A ______ can issue shares on the stock exchange to raise finance
a)
PLC
b)
Ltd
c)
Sole Trader
d)
Franchise
100 %
