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WorksheetsProfit and loss quiz
Total questions: 13
Worksheet time: 7mins
What is meaning of loss?
Difference between marked price and selling price
Difference between cost price and marked price
Difference between selling price and cost price
All of the above
What is another name for a business' sales revenue?
Sales
Costs
Sales turnover, turnover or revenue
Profit and Loss
What does the money spent on materials affect?
Gross Profit figure only
Net Profit figure only
Both Gross Profit and Net Profit figures
Which type of profit shows how successful the business activity has been?
Operating Profit
Sales
Expenses
Dividends
A Profit and Loss Account summarises a business's
stock and raw materials
highs and lows
pros and cons
revenues and costs
If a business's costs exceeds it sales revenue, it will experience a ........?
loan
profit
loss
debt
Which group is interested in a business's profit and loss account?
Stillholders
Stileholders
Stakeholders
Staleholders
A profit and loss account can help a business to?
forecast
typecast
foretell
foreshadow
The profit and loss account is used by people who may want to become?
customers
suppliers
consumers
investors
One advantage of using ICT to produce Profit and Loss accounts?
it takes time to set up
it requires staff training
data sharing is easier
it is initially expensive
Cost price =
selling prce - profit
profit - selling price
selling price + profit
none of the above
Loss =
SP - CP
SP + CP
CP - SP
none of the above
