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WorksheetsComponent 3 - Revenue/Costs Part 2 - Topic 4
Total questions: 12
Worksheet time: 6mins
1) Which of the following is the term for indirect costs of running a business
Turnover or Sales
Cost of Sales
Gross Profit
Expenses
Net Profit
2) Which of the following is the term for profits made before expenses are deducted?
Turnover or Sales
Cost of Sales
Gross Profit
Expenses
Net Profit
3) Which of the following is the term for stock purchases?
Turnover or Sales
Cost of Sales
Gross Profit
Expenses
Net Profit
4) Which of the following terms considers income made through sales?
Turnover or Sales
Cost of Sales
Gross Profit
Expenses
Net Profit
5) Turnover – cost of sales = Gross Profit – Expenses = which of the following terms?
Total Costs
Variable Costs
Fixed Costs
Net Profit
6) If turnover is lower than cost of sales what will happen to gross profit?
Gross Profit is Positive
Gross Profit is Negative
7) Which of the following is NOT a means of increasing gross profit?
Increasing the price
Reducing Cost of Sales
Bulk buying stock to get a cheaper price.
Reducing Expenses
8) Which of the following is NOT a means of increasing net profit?
Reducing cost of sales
Reducing expenses
Increasing wages
Increasing price
9) Which of the following is the correct means by which you calculate the gross profit margin?
Turnover - cost of sales
Turnover - expenses
Gross Profit / Turnover x 100
Net Profit / Turnover x 100
10) Which of the following is the correct means by which you calculate the net profit margin?
Turnover - cost of sales
Turnover - expenses
Gross Profit / Turnover x 100
Net Profit / Turnover x 100
11) What is the Gross Profit figure (A)
£60,000
-£80,000
£20,000
£80,000
12) What is the Net Profit figure (B)?
£45,000
£35,000
£115,000
£75,000
