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WorksheetsBizQuiz
Total questions: 22
Worksheet time: 11mins
What is the formula for sales revenue?
Price x Profit
Price x Quantity sold
Price / Costs
Price - Total costs
What is the formula for total costs?
Fixed Costs - Variable costs
Revenue - cost of sales
Fixed costs + Variable costs
Fixed costs + Total costs
What is the formula for Break Even?
Opening balance + Net cash flow
Price x Quantity
Gross profit - expenses
Fixed cost / (sales price - variable cost per unit)
Sheila sells shin pads. She sells them for £10 per pair. This week she sold 25 pairs of shin pads. What was her total revenue for this week?
(a)
Sheila has fixed costs for the week which total £100. It costs her £4 to make each pair of shin pads. This week she made 10 pairs of shinpads. What were her total costs for this week?
(a)
What is a sole trader?
A person who is the exclusive owner of a business.
Two people who own a business.
A group of people who own a business
Start up costs are...
the amount of money spent setting up a business
money spent on a regular basis to keep a business running
Fixed Costs + Variable Costs
costs which change with output
What is a variable cost?
A cost which does not change
A cost which they must pay even if they produce nothing
A cost which changes the more or less the business produces
A cost the business pays when they start
If a business's costs exceeds it sales revenue, it will experience a ........?
loan
profit
loss
debt
