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WorksheetsBusiness Accounting - Intro Quiz
Total questions: 10
Worksheet time: 5mins
The surplus achieved when total revenue (income) from sales is higher than the total costs of a business, is called ...
Expenditures
Profit
Maximum Revenue
Administrative Costs
The shortfall suffered when total revenue from sales is lower than the total costs of a business is called ...
Net Profit
Gross Profit
Loss
Administrative Costs
The quantity sold times its selling price is called the ...
Sales revenue
Net Profit
Net Loss
Administrative Costs
The gross profit minus other expenses – for example, rent and advertising - is called the ...
Total revenue
Fixed costs
Administrative costs
Net profit
The items of value owned by a business that are likely to stay in the business for more than one year – for example, machinery - is called ...
Gross revenue
Fixed assets
Capital income
Administrative costs
Capital investment (sometimes called capital income) refers to money the business invests in itself from these sources, except...
Owner's savings
Sales revenue
Loan from banks
Investment from sale of shares
The percentage rate a bank charges for a loan - i.e., the cost of borrowing money - is termed ...
Addendum
Principal
Interest rate
Administrative cost
A percentage paid on a sale to the person or business responsible for making that sale, is called ...
Commission
Sales tax
Additional revenue
Administrative cost
For all businesses, the following are a number of costs associated with premises, except...
Rent
Heat and Light
Insurance
Salaries
Staff costs can include the following, except:
Salaries
Training
Marketing
Pensions
