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Finance u. 14&15

Total questions: 18

Worksheet time: 6mins

Name
Class
Date
1.

Process of planning and controlling the budget of a business.

a)

labor

b)

production

c)

business peformance

d)

cost management

2.

The sum of all costs incurred by a firm in producing a certain level of output.

a)

total costs

b)

fixed costs

c)

variable costs

d)

storage

3.

The cost of a business expense that doesn’t change even with an increase or decrease in the number of goods and services produced or sold. They are commonly related to recurring expenses not directly related to production, such as rent, interest payments, and insurance.

a)

variable costs

b)

fixed costs

c)

total costs

d)

general costs

4.

Business expenses that are not related to the cost of goods or sales, such as salaries of office staff, insurance, and legal and accounting costs.

a)

fixed expenses

b)

general expenses

c)

administrative expenses

d)

total expenses

5.

The process of creating something, usually for sale.

a)

production

b)

creation

c)

display

d)

presale

6.

Work in echange for pay

a)

labor

b)

birth

c)

salary

d)

earning

7.

State of being kept in a particular place while not in use.

a)

pack

b)

storehouse

c)

market

d)

storage

8.

Act of delivering or spreading something.

a)

delivery service

b)

distribution

c)

storage

d)

illness

9.

Publication of advertisements

a)

ad

b)

public

c)

advertising

d)

programe

10.

Detailed plan for reaching specific production and sales goals that includes several smaller budgets

a)

master budget

b)

fixed costs

c)

total costs

d)

cash budget

11.

Estimate of future cash payments and receipts over the course of a particular period.

a)

master budget

b)

operating budget

c)

cash budget

d)

general budget

12.

Estimate of future income and expenses over the course of a particular period.

a)

operating budget

b)

income

c)

plan

d)

debt

13.

A group of employees who work in a particular place

a)

boss

b)

employer

c)

staff

d)

master

14.

It has or provides enough of something

a)

too much

b)

sufficient

c)

too many

d)

suffering

15.

Costs of operating a business, including rent and utilities, that are not related to the product or service that the business sells

a)

opera

b)

operating budget

c)

overdraft

d)

overheads

16.

Amount of money that is earned in business after expenses are paid.

a)

debt

b)

income

c)

profit

d)

cost

17.

Action or set of actions that someone intends to complete

a)

plan

b)

trial

c)

dream

d)

intention

18.

Amount of money that someone owes to a person or organisation.

a)

debt

b)

pay

c)

salary

d)

outcome