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WorksheetsBusiness Studies Quiz
Total questions: 20
Worksheet time: 10mins
What is a sole trader?
A person who is the exclusive owner of a business.
Two people who own a business.
A group of people who own a business
Start up costs are...
the amount of money spent setting up a business
money spent on a regular basis to keep a business running
Fixed Costs + Variable Costs
costs which change with output
What is an operating cost?
Something a business pays before the company starts
Something the company receives
Something the company pays for their day to day running
Something the company cant afford
Which 3 of these are costs?
Fixed
Variable
Operating
Revenue
What is a variable cost?
A cost which does not change
A cost which they must pay even if they produce nothing
A cost which changes the more or less the business produces
A cost the business pays when they start
If a business's costs exceeds it sales revenue, it will experience a ........?
loan
profit
loss
debt
Expenses can be referred to as 'Overheads'.
True
False
Which 3 of the following costs would be considered as expenses?
Rent
Utility bills
Materials
Tax
Expenses are...
The cost of producing a product, otherwise called direct costs
Other costs that are not related to producing the product, otherwise known as indirect costs
Cost that do not change with output
Running costs
