WorksheetsA Level - Theme 2 Quiz
Total questions: 20
Worksheet time: 10mins
_____ is the money put into the business by the owners.
Contribution
Overdraft
Capital
Elasticity
______ is the profit after tax that is put back into the business and not taken out by the owners.
Net profit
Gross profit
Operating profit
Retained profit
A _____ allows a business to spend more money than it has is their bank account.
mortgage
bank overdraft
grant
lease
No legal difference between the owners and the business =
Unlimited liability
Partial liability
Limited liability
Share capital
_____ refers to an asset that may be sold to pay a lender if a loan cannot be repaid.
Debenture
Collateral
Grant
Patent
Which if the following is an example of a cash inflow?
VAT payable
Raw materials
Cash sales
Loan repayments
_____ refers to the ability to which a business can pay their debts on time.
Solvency
Liability
Inflation
Extrapolation
_____ are costs that remain the same at all levels of output.
Variable costs
Running costs
Fixed costs
Direct costs
What is the formula for Total Sales Revenue?
Price per unit + Quantity sold
Price per unit / Quantity sold x 100
Price per unit - Quantity sold x Cost of Sales
Price per unit x Quantity sold
_____ refers to the quantity of output sold in a specific period of time.
Raw materials
Sales volume
Variable costs
Gross profit
What is the formula for Total costs?
Fixed costs + Variable costs
Fixed costs + Variable costs - Semi Variable costs
Fixed costs x Variable costs
Fixed costs + Variable costs / 100
_____ is a cost that fluctuates to reflect output.
Net cash flow
Fixed costs
Operating profit
Variable costs
What is the formula to calculate the 'Contribution' of a unit?
Selling price / variable costs per unit x 100
Selling price - variable costs per unit
Selling price x fixed costs per unit
Selling price - fixed costs per unit
What is the formula to calculate the break even output?
Fixed costs x Contribution - Fixed costs
Contribution / Variable costs
Fixed costs / Contribution
Fixed costs - Contribution + Variable costs
What is the term used to describe the units sold that are above the break even point?
Closing balance
Extrapolation
Contribution
Margin of safety
_____ is the point where total revenues are equal to total costs.
Contribution
Net profit
Break even point
Margin of safety
_____ is the cost of the next best alternative.
Sales forecast
Potential variance
Opportunity cost
Share capital
What is the formula to calculate gross profit?
Revenue - Cost of Sales - Interest costs
Revenue - Exceptional costs
Revenue - Cost of sales - Other expenses
Revenue - Cost of sales
What financial document could a business use to see their gross profit?
Statement of Comprehensive Income
Break Even Analysis
Cash Flow Forecast
Statement of Financial Position
What financial document could a business use to check what assets and liabilities they have?
Profit and Loss account
Statement of Financial Position
Statement of Comprehensive Income
Cash Flow Forecast
