Costs And Revenue

8 Questions | Total Attempts: 119

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Revenue Quizzes & Trivia

This covers units 21, 22, 23 and 24 of Denby's book.


Questions and Answers
  • 1. 
    Retained profit is the biggest source of Finance for UK companies.
    • A. 

      True

    • B. 

      False

  • 2. 
    Which of the following is not a valid reason for sourcing finance for your company during a recession?
    • A. 

      Start up

    • B. 

      Running costs,

    • C. 

      Yachts for the board of directors

    • D. 

      Renewal / replacement e.g. when there is a catastrophe

    • E. 

      Limited expansion

  • 3. 
    ____________ costs do not change with the amount produced or sold.
  • 4. 
    In a bakery, flour is an example of a ___________ cost.
  • 5. 
    Choose the word that best describes what 'Bottom line'  is in business.
    • A. 

      Gross profit

    • B. 

      Net profit

  • 6. 
    One unit of product A costs $43.00 to produce and sells for $69.00.  Product B costs $66 to produce and retails for $93.25. Which product has the higher contribution? (Indicate letter only)
  • 7. 
    How many items must be sold in a month to cover total fixed costs of $3,450 if the unit sells for $45 but had originally been bought for $22.
    • A. 

      152 units

    • B. 

      151 units

    • C. 

      150 units

    • D. 

      154 units

  • 8. 
    Athough usually a fixed cost, electricity used in some businesses such as a dry-cleaning business, may be a variable cost.
    • A. 

      True

    • B. 

      False