The Business Costs And Revenue Quiz Part- I

8 Questions | Total Attempts: 295

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Business Finance Quizzes & Trivia

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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