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Mr Frayne IGCSE Finance Friday

Total questions: 100

Worksheet time: 2hrs 40mins

Name
Class
Date
1.

Evan earned $300 by doing yard work. His profit was $250. How much were his expenses?

a)

$550

b)

$300

c)

$250

d)

$50

2.

What is the profit percent if a shopkeeper buys a football for $12 and sells it for $15?

a)

80%

b)

25%

c)

20%

d)

50%

3.

Ramesh bought a pen drive for Rs. 500 and sold it for Rs. 560. What his profit percent?

a)

12%

b)

10%

c)

8%

d)

15%

4.
If an object is bought for $90 and then sold for a loss of 15%. How much was it sold for?
a)
$103.50
b)
$80
c)
75
d)
$76.50
5.
An LCD TV is on sale for 24% off.
If the original price was $800, find the sale price. 
a)
$192
b)
$992
c)
$608
d)
$1056
6.

The price at which goods or services are offered by a business to their customers is called

a)

Selling price

b)

Cost

c)

Variable cost

d)

Currency

7.

Costs that must be paid regardless of how much of a good or service is produced. They do not change in the short term, regardless of output are called

a)

Variable costs

b)

Fixed costs

c)

Total costs

d)

The costs

8.

A negative difference between the revenues taken in by a business and the costs of operating a business (when a business spends more than it makes) :(

a)

Profit

b)

Breakeven

c)

Loss

d)

Closed

9.

Costs that change based on the amount of goods and services produced.

a)

Total costs

b)

Fixed costs

c)

Variable costs

d)

Costs

10.

Rent, administrative costs, advertising, employee salary are examples of ...

a)

Variable costs

b)

Fixed costs

c)

Costs

d)

Prices

11.

Raw materials, packaging, wages/labour costs are examples of

a)

Total costs

b)

Fixed costs

c)

Variable costs

d)

Benefits

12.

What is the formula for Revenue?

a)

Total Sales + Costs = Revenue

b)

Number of Sales x Price per unit = Revenue

c)

Price per unit x Total Costs = Revenue

d)

Number of Sales - Total Costs = Revenue

13.

How can a business increase its revenue without increasing prices?

a)

By reducing the quality of its products

b)

By increasing the volume of sales

c)

By decreasing its marketing efforts

d)

By reducing its workforce

14.

Fixed costs are costs that remain the same regardless of how many products a business produces.

a)

true

b)

false

15.

A single item or good

a)

Unit

b)

Revenue

c)

Cost

d)

Price

16.
Which one of the following costs is most likely to be variable for a fast food restaurant?
a)
the salary of the manager
b)
the rent of the restaurant
c)
the cost of the food supplies
d)
the machinery used to cook the food
17.

When a business breaks even it means that

a)

there is no profit and no loss

b)

a profit is made

c)

a loss is made

18.

Sutton Ltd produces teddy bears. Each month, their rent and insurance totals $20,000. The variable costs per teddy bear are $1.50.

What are the total fixed costs if they produce 35,000 teddy bears?

a)

$10,000

b)

$20,000

c)

$30,000

d)

$40,000

19.

Backhouse Ltd produces golf balls. Each month, their rent and insurance totals $45,000. The variable costs per teddy bear are $0.25.

What are the total variable costs if they produce 100,000 golf balls?

a)

$15,000

b)

$45,000

c)

$70,000

d)

$25,000

20.

As the volume of production increases, which of the following happens to fixed costs?

a)

They increase

b)

They decrease

c)

They remain the same

d)

They become variable costs

21.

Cauldwell Ltd. sells 300 maps. It costs $0.50 to produce each map. They chage $3.00 per map. Their fixed costs are $800 per month. Calculate the total sales revenue for Cauldwell Ltd?

a)

$800

b)

$900

c)

$150

d)

$600

22.

If Salary is 5500dhs, Rent 4000dhs and Raw material is 700dhs, what is the total fixed cost?

a)

10200dhs

b)

9500dhs

c)

8000dhs

d)

4700dhs

23.

What is the total inflow of this company?

a)

37.500 AED

b)

19.000 AED

c)

18.500 AED

d)

12.000 AED

24.

What is the total outflow of this company?

a)

37.500 AED

b)

19.000 AED

c)

18.500 AED

d)

12.000 AED

25.

What is the total Net cash flow for this company?

a)

18.000 AED

b)

24.000 AED

c)

28.500 AED

d)

-4.500 AED

26.

Which of these formulae defines the point at which breakeven occurs?

a)

None of these

b)

Total Revenue = Total Costs

c)

Total Profit = Total Costs

d)

Total Revenue = Total Price

27.

Breakeven output can be calculated by dividing total fixed costs by:

a)

Variable cost per unit sold

b)

Selling price per unit sold

c)

Contribution per unit sold

d)

Total variable costs

28.

A baker's fixed costs are $10,000, sells cakes at SP of $45 and the VC per cake is $25. What is the breakeven level of production?

a)

500 units

b)

20 units

c)

50 units

d)

5,000 units

29.

Other things remaining the same, an increase in fixed costs will:

a)

Increase the breakeven output

b)

Reduce unit costs

c)

Decrease the breakeven output

d)

Increase contribution

30.

If average variable cost is £10, and average selling price is £25, then what is contribution?

a)

£35

b)

£15

c)

£-15

d)

£40

31.

If the average variable costs £10, average selling price is £25 and fixed costs are £60,000, then what is the break-even output?

a)

5000

b)

7000

c)

6000

d)

4000

32.

Using this diagram what line is H?

a)

Total Revenue

b)

Variable Costs

c)

Total Costs

d)

Fixed Costs

33.

Using this diagram what line is F?

a)

Total Revenue

b)

Variable Costs

c)

Total Costs

d)

Fixed Costs

34.

Using this diagram what line is G?

a)

Total Revenue

b)

Variable Costs

c)

Total Costs

d)

Fixed Costs

35.

On this chart at which point does this business break even?

a)

190

b)

200

c)

$2,000

d)

$1,000

36.

On a break even chart, which line starts at zero?

a)

Total Revenue

b)

Fixed Costs

c)

Total Costs

d)

Variable Costs

37.

Contribution per unit

= Selling price per unit – Variable cost per unit

a)

true

b)

false

38.

Contribution per unit is the amount of money each unit contributes towards _______ costs.

a)

break-even

b)

total

c)

fixed

d)

broken

39.

·Selling price per candle = Dh100

·Variable cost per candle = Dh50

·Total fixed costs = Dh10,000


What is the contribution per unit?

a)

Dh50

b)

Dh100

c)

Dh5000

d)

Dh20

40.

What is the profit (or loss) if 10 units were sold at a selling price of £85, the variable costs per unit was £25 and fixed costs were £300?

a)

300

b)

(£300)

c)

£300

d)

£600

41.

How would you determine the break-even point on a graph?

a)

Where the lines for total revenue and total costs cross

b)

Where the lines for total revenue and fixed costs cross

c)

Where the lines for total costs and fixed costs cross

d)

Where the lines for fixed costs and variable costs cres..

42.

What happens to fixed costs if there is a decrease in contribution per unit?

a)

Fixed costs decreases

b)

The margin of safety falls

c)

Fixed costs increases

d)

No-change fixed costs are not affected.

43.

Which two lines intersect to show the BE number of units?

a)

FC & TR

b)

VC & TC

c)

TR & MOS

d)

TR & TC

44.

What is the capital of Ireland?

a)

Dublin

b)

Cork

c)

Limerick

d)

Dundalk

45.
What is the Capital of Mexico
a)
Mexico City
b)
Madrid
c)
Tijuana
46.

What is the Capital of the United States?

a)

New York City

b)

Washington DC

c)

Boston

47.
What if the Capital of Germany
a)
Berlin
b)
Munich
c)
Bonn
48.
Copenhagen is the capital of which country?
a)
Denmark
b)
Finland
c)
Sweden
d)
Netherlands
49.

Capital city of Morocco

a)

Ankara

b)

Tunis

c)

Lisbon

d)

Rabat

50.

Capital city of Pakistan

a)

Mexico City

b)

Dodoma

c)

Islambad

d)

Kabul

51.

Capital city of Argentina

a)

Buenos Aires

b)

Santiago

c)

Brasília

d)

Doha

52.

What is the capital of Scotland?

a)

Edinburgh

b)

Glasgow

c)

Inverness

d)

Dundee

53.

Which of these cities is not a capital city?

a)

Shanghai

b)

Beijing

c)

Tokyo

d)

Seoul

54.

What is the capital of Canada?

a)

Ottawa

b)

Washington DC

c)

New York

d)

Vancouver

55.

The capital city of Vietnam

a)

VietCong

b)

Saigon

c)

Ho Chin Min City

d)

Hanoi

56.

The capital city of Indonesia

a)

Jakarta

b)

Medan

c)

Bandung

d)

Pontianak

57.

The Capital city of Myanmar

a)

Yangon

b)

Mandalay

c)

Bago

d)

Monyva

58.

The Capital city of Australia

a)

Canberra

b)

Gold Coast

c)

Sydney

d)

Perth

59.

The Capital city of New Zealand

a)

Christchurch

b)

Hamilton

c)

Wellington

d)

Auckland

60.

The Capital city of Norway

a)

Oslo

b)

Begen

c)

Tromso

d)

Stavander

61.

The Capital city of Sweden

a)

Gothenburg

b)

Visby

c)

Stockholm

d)

Uppsala

62.

The Capital city of Austria

a)

Canberra

b)

Hallstatt

c)

Salzburg

d)

Vienna

63.

The Capital city of Turkey

a)

Ankara

b)

Istanbul

c)

Ismir

d)

Antalya

64.

What flag is this?

a)

Egypt

b)

Yemen

c)

Palestine

d)

Syria

e)

Sudan

65.

What flag is this?

a)

Chile

b)

Liberia

c)

USA

d)

Malaysia

e)

El Salvador

66.

What flag is this?

a)

Monaco

b)

Indonesia

c)

Luxemborg

d)

Poland

67.

What flag is this?

a)

Czech Republic

b)

The Philippines

c)

Malaysia

d)

Puerto Rico

e)

Cuba

68.

What flag is this?

a)

Poland

b)

Monaco

c)

Indonesia

d)

Monaco

69.

What flag is this?

a)

Burma/Myanmar

b)

Lithuania

c)

Netherlands

d)

Luxembourg

70.

What flag is this?

a)

Star Fleet

b)

Saint Lucia

c)

Somalia

d)

Kosovo

71.

What is this flag?

a)

Lichtenstein

b)

Belarus

c)

Angolia

d)

San Marino

72.

What flag is this?

a)

Mozambique/Eswatini

b)

Cuba

c)

Djibouti

d)

Comoros

73.

What flag is this?

a)

Chad

b)

Romania

c)

Belguim

d)

The Republic Ireland

74.

What flag is this?

a)

Republic of Congo

b)

Belgium

c)

Mali

d)

Senegal

e)

Lithuania

75.

Who has this flag?

a)

Albania

b)

Azerbaijan

c)

Turkmenistan

d)

Croatia

76.

Who is this flag?

a)

Kosovo

b)

Finland

c)

North Macedonia

d)

Belarus

77.

Who is this flag?

a)

North Macedonia

b)

Ukraine

c)

Turkmenistan

d)

Kazakhstan

78.

What flag is this?

a)

China

b)

Poland

c)

Zimbabwe

d)

Uganda

79.

What flag is this?

a)

Cambodia

b)

Canada

c)

Mexico

d)

Panama

80.

What flag is this?

a)

Zimbabwe

b)

Zanzibar

c)

Japan

d)

Qatar

81.

What is this flag?

a)

Mexico

b)

Oman

c)

Kenya

d)

Ghana

82.

What flag is this?

a)

Saudi Arabia

b)

Sri Lanka

c)

Zimbabwe

d)

Wales

83.

Whose flag is this?

a)

Burkina Faso

b)

Mozambique

c)

The Gambia

d)

Eritrea

84.

What Country does this flag belong to?

a)

Thailand

b)

Costa Rica

c)

Cuba

d)

North Korea

85.

To which state does this flag belong?

a)

Wyoming

b)

Montana

c)

California

d)

Texas

86.

To which state does this flag belong?

a)

Colorado

b)

Montana

c)

Idaho

d)

Washington

87.

To which state does this flag belong?

a)

Maryland

b)

Louisiana

c)

Florida

d)

Indiana

88.

To which state does this flag belong?

a)

Mississippi

b)

Georgia

c)

Alabama

d)

Arkansas

89.

To which state does this flag belong?

a)

Rhode Island

b)

Massachusetts

c)

Connecticut

d)

North Carolina

90.

To which state does this flag belong?

a)

South Carolina

b)

Florida

c)

Mississippi

d)

Virginia

91.

To which state does this flag belong?

a)

Washington

b)

Oregon

c)

Alaska

d)

Vermont

92.

To which state does this flag belong?

a)

Wyoming

b)

New York

c)

South Dakota

d)

Montana

93.

How many floors does the Burj Khalifa have?

a)

50

b)

163

c)

200

d)

100

94.

What is the name of the traditional boat used for transportation in Dubai Creek and Dubai Marina?

a)

Yacht

b)

Canoe

c)

Gondola

d)

Abra

95.

Where can you find the Petronas Twin Towers?

a)

Ifugao, Philippines

b)

Kuala Lumpur, Malaysia

c)

Tokyo, Japan

d)

Taipei, Taiwan

96.

What U.S. landmark is this?

a)

The Rio Grande

b)

The Grand Canyon

c)

Arlington National Cemetery

d)

The Hoover Dam

97.

What is the name of this landmark found in Seattle, Washington?

a)

Twin Towers

b)

Empire State Building

c)

The Space Needle

d)

Louis Tower

98.

Which picture below is Machu Picchu?

a)
b)
c)
d)
99.

Which landmark does the picture represent?

a)

The Temple of Ur

b)

Machu Picchu

c)

The Washington Monument

d)

Chichen Itza

100.

What landmark is this?

a)

The Golden Gate Bridge

b)

The George Washington Bridge

c)

The Brooklyn Bridge

d)

Tower Bridge

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