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WorksheetsC3B Quiz Financials
Total questions: 15
Worksheet time: 8mins
If a company's revenue is 500,000andthecostofgoodssold(COGS)is 300,000, what is the gross profit?
$200,000
$800,000
$100,000
$500,000
Which of the following is an example of a fixed cost?
Electricity bill
Raw materials
Rent for office space
Shipping costs
What is the main difference between a debit card and a credit card?
A debit card allows you to borrow money, while a credit card uses your own money.
A debit card uses your own money, while a credit card allows you to borrow money.
There is no difference; both cards do the same thing.
A debit card has higher interest rates than a credit card.
If a business has a net income of $150,000 and pays a tax rate of 20%, what are the taxable profits?
$30,000
$120,000
$150,000
$180,000
What does annual turnover refer to?
The total profit a company makes in a year.
The total sales or revenue a company generates in a year.
The number of employees that leave a company in a year.
The total amount of inventory sold in a year.
If a company's revenue is 750,00 and its expenses are 600,000, what is the net profit?
$150,000
$1,350,000
$450,000
$750,000
Which of the following costs varies with the level of output or sales?
Rent
Salaries
Raw materials
Insurance
How is gross profit calculated?
Revenue - Fixed Costs
Revenue - Variable Costs
Revenue - Cost of Goods Sold
Net Profit + Taxes
What is the primary benefit of using a credit card over a debit card for purchases?
Spending your own money directly
Higher spending limits
Short period of interest free lending
Lower interest rates
If a company's gross profit is 200,000 and it's total costs are 50,000, what is its net profit before taxes?
$150,000
$250,000
$50,000
$200,000
What is the tax bill if a company has $200,000 net profit and has a tax rate of 25%?
$2500
$5000
$25000
$50000
Annual turnover is important because it:
Determines the company's tax rate.
Indicates the profitability of the company.
Measures the company's ability to generate sales.
Reflects the company's stock price.
If a company's fixed costs are 100,000, variable costs are 150,000, and revenue is $500,000, what is the gross profit?
$250,000
$350,000
$150,000
$400,000
Which of the following is not a characteristic of variable costs?
Changes with production volume
Includes rent and salaries
Can include raw materials and shipping costs
Affects the gross margin
To calculate taxable profits, you must subtract __________ from net profit.
Fixed costs
Gross profit
Tax payments
Non-taxable income
