Free Printable BTEC Formula Quiz

1.

Opening Balance = ? from the period before

(a)

2.

What is the formula for net Cash Flow

a)

= Total Cash Outflow - Total Cash Inflow

b)

= Opening Balance - Total Cash Outflows

c)

= Total Cash Inflows - Total Cash Outflows

d)

= Closing Balance + Total Cash Outflows

3.

Closing Balance = ? + Opening Balance

(a)

4.

Break-Even Point = Fixed Costs $\div$ ?

(a)

5.

Contribution Per Unit =

a)

Fixed Costs - Variable Costs

b)

Sales Revenue - Total Variable Costs

c)

Selling Price - Variable Costs Per Unit

6.

Variable costs per unit x quantity =

a)

Total Contribution

b)

Total Variable Costs

c)

Break-Even Point

d)

Total Fixed Costs

7.

Margin of Safety = ? - Break-Even Level of Input

a)

Net Cash Flow

b)

Fixed Costs

c)

Actual Sales/Projected sales

8.

Costs of Goods Sold=

a)

opening inventories x purchase

b)

opening inventories + purchases - closing inventories

c)

opening inventories + sales

d)

opening inventories - closing inventories

9.

Sales turnover = quantity sold x ?

(a)

10.

Gross Profit= ? $-$ Costs of Goods Sold

a)

Net Cash Flow

b)

Opening Inventories

c)

Closing Inventories

d)

Sales Turnover

11.

Profit for the year = Gross Profit - ? + Other Revenue Income

a)

Expenses

b)

Goods Sold

c)

Opening Inventory

12.

Straight Line Depreciation =

$\frac{historic\ value\ -\ residual\ value}{?}$

a)

Expected Life

b)

20

c)

Number of years

d)

cost

13.

Which is NOT a current asset?

a)

Inventory

b)

Cash in the Bank

c)

Overdrafts

d)

Prepayments

14.

Select the 2 current liabilities!

a)

Accruals

b)

Cash in Hand

c)

Inventory

d)

Overdrafts

15.

Non-Current Assets + Net current assets - Non-current liabilities (aka Long Term liabilities)

a)

Net Assets

b)

Cash Flow

c)

Profit

d)

Total Assets

16.

Gross Profit Margin=

a)

$\frac{gross\ \ \ profit}{revenue}$

b)

$\frac{gross\ \ \ profit}{revenue\ }\times100$

c)

$\frac{Revenue}{Gross\ \Pr ofit}\times100$

17.

$\frac{Gross\ \Pr ofit}{Cost\ of\ Sales}\times100=$

a)

Net Profit Margin

b)

Breakeven

c)

Mark-Up

18.

$Net\ \Pr ofit\ M\arg in=\frac{?}{Revenue\ }\times100$

(a)

19.

\frac{net\ profit\ before\ interest\ and\ tax}{capital\ employed}\times100

a)

Return on Capital Employed

b)

Liquid Capital

c)

Current ratio

20.

$\frac{Current\ Assets}{Current\ Liabilities}=$

a)

Liquid Capital Ratio

b)

Current Ratio

c)

Return on Capital Employed

21.

Acid Test/Liquid Capital Ratio=

a)

$\frac{Current\ Assets\ }{Current\ Liabilities}$

b)

$\frac{Net\ \Pr ofit\ before\ interest\ and\ tax}{Capital\ Employed}\times100$

c)

$\frac{Current\ Assets-Inventory}{Current\ Liabilities}$

22.

$\left(\frac{trade\ receivables}{credit\ sales}\right)\times365$ =

a)

Trade Payable Days

b)

Inventory Turnover

c)

Trade Receivable Days

23.

Trade Payable Days =

a)

$\left(\frac{Trade\ payables}{credit\ purchases}\right)\times365$

b)

$\left(\frac{Trade\ Receivables}{Credit\ Sales}\right)\times365$

c)

$\left(\frac{Average\ Inventory}{Cost\ of\ Sales}\right)\times365$

d)

$\frac{Opening\ Inventory\ +clo\sin g\ \ inventory}{2}$

24.

Inventory Turnover =

\left(\frac{Average\ Inventory}{Cost\ of\ Sales}\right)\times?

(a)

25.

$\frac{Opening\ Inventory\ +\ Clo\sin g\ Inventory}{2}$ =

a)

Inventory Turnover

b)

Return on Capital Employed

c)

Average Inventory

d)

Trade Payable Days

26.

What is the formula for Net current assets

(a)

27.

Calculation for NBV = ?

a)

Cost - depreciation

b)

Cost plus depreciation

c)

Cost - accumulated depreciation

d)

Depreciation x given %

28.

Capital employed = Opening capital + ? - drawings

(a)

29.

In the statement of financial position Net assets will ALWAYS equal

a)

Capital employed

b)

Opening capital

c)

Net current assets

d)

Retained profits

30.

Methods of depreciation include:

a)

Straight line

b)

Reducing balance

c)

Opening balance

d)

Net book value - depreciation

BTEC Formula Quiz

Total questions: 30

Worksheet time: 16mins

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