The Business Costs And Revenue Quiz Part- I
8 Questions
| Attempts: 369
A few questions about the sixth chapter from the IGCSE Business Studies book: Business Costs and Revenue
Questions and Answers
- 1.Do managers and owners need business cost?
- A.
Yes
- B.
No
- 2.What is business cost?
- A.
The need to calculate profit and loss
- B.
The need to buy goods and services
- 3.What is the break-even chart used for?
- A.
To draw random graphs
- B.
To play with money
- C.
To compare costs with revenue
- D.
To do something with it
- 4.State one example of a fixed cost
- A.
Rent of factory
- B.
Vehicle of factory
- C.
Cash of factory
- 5.What is meant by variance from budget?
- A.
The money earned
- B.
The difference between a budget figure an actual result
- 6.A budget is a detailed financial plan for the future.
- A.
True
- B.
False
- 7.The difference between price and fixed cost is the definition of the contribution made by a product.
- A.
True
- B.
False
- 8.The quantity of units sold multiplied by the selling price is called the total revenue of a business.
- A.
True
- B.
False
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