Free Printable Unit 3 Business Revision

1.

Which of the following is not a fixed cost?

a)

Rent

b)

Salaries

c)

Advertising

d)

Loan

2.

Which of the following is not a variable cost?

a)

Hourly wage

b)

Delivery charges

c)

Commission

d)

Insurance

3.

Which one of the following is an example of an intangible non-current asset?

a)

Goodwill

b)

Machinery

4.

State one semi-fixed cost?

4 lines

5.

Identify the correct break-even formula

a)

Break even point=

$\frac{fixed\ \cos t\ -variable\ \cos t}{selling\ price\ per\ unit}$

b)

Break even point=

$\frac{fixed\ \cos t}{selling\ price\ per\ unit\ -\ variable\ \cos t\ per\ unit}$

6.

Are non-current assets and non-current liabilities included in the statement of financial position?

a)

Yes

b)

No

7.

How are drawings included in the statement of financial position?

a)

As a current asset

b)

As a current liability

c)

Neither it is separate from both

8.

Which one of the following is not needed to calculate straight line depreciation?

a)

Sales revenue

b)

Useful life

c)

Historic value

d)

Residual value

9.

How is a mark up ratio represented?

a)

is represented as a percentage

b)

is represented as a ratio of x:1

10.

What of the following does return on capital employed not do?

a)

Measures a company's profitability

b)

Measures a company's liquidity

c)

Measures the return on invested capital

Unit 3 Business Revision

Total questions: 10

Worksheet time: 7mins

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