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- 1. Multiple Choice
A card that borrows money but it has to be paid backDebit CardCredit CardBaseball CardPokemon Card - 2. Multiple ChoiceA card that uses money directly from your bank accountDebit CardCredit CardPokemon CardBaseball Card
- 3. Multiple ChoiceThe maximum amount the lender is willing to make available to the borrower.Credit LimitCredit HistoryCreditorDebit Limit
- 4. Multiple ChoiceAn agreement between a borrower and a lender, where the borrower agrees to repay money with interest over time.LoanInterestIncomeDeposit
- 5. Multiple ChoiceHow many digits are in a bank account number?46816
- 6. Multiple ChoiceHow do we calculate total costs?Fixed Costs - Variable CostsTotal Revenue - Fixed CostsVariable Costs x Total RevenueFixed Costs + Variable Costs
- 7. Multiple ChoiceWhat happens at Break Even Point?Company makes neither profit nor lossCompany makes profitCompany makes lossCompany goes bankrupt
- 8. Multiple ChoiceSales - Cost of Sales = ???Money InNet ProfitExpensesGross Profit
- 9. Multiple ChoiceGross Profit - ??? = Net ProfitExpensesSalesCost of SalesMoney Out
- 10. Multiple ChoiceWhich of these does not belong on a cash budget?Money InOpening BalanceNet ProfitMoney Out
- 11. Multiple ChoiceWhich of the following is not a feature of a Government Grant?Awarded as one off paymentSubject to limitations and restrictionsRepaid in monthly instalmentsMust be used for specific purpose
- 12. Multiple ChoiceRevenue is ...Money made from selling productsMoney paid to suppliers for materialsExpenses x Units producedMonthly rent payments to landlord
- 13. Multiple ChoiceA mortgage is used for ...Buying a new machineBuying a new vehicleBuying land or premisesPaying staff wages
- 14. Multiple ChoiceFixed costs _______ vary with production. (fill in the blank)DoMaySometimesDo not
- 15. Multiple ChoiceVariable costs _______ vary with production. (fill in the blank)DoMaySometimesDo not
- 16. Multiple ChoiceA _________ is a plan or forecast of how much money you will have, and how you will spend it.Profit StatementJob Cost StatementCash Flow ReportCash Budget
- 17. Multiple ChoiceWhich source of finance is internal?Government GrantRetained ProfitsBank LoanOverdraft
- 18. Multiple ChoiceA job cost statement is produced to ...Predict how much money we'll make next yearTell us how much net profit we madeProduce a quotation for the cost of a jobCalculate wage payments for a month
- 19. Multiple ChoiceWhat is added to a job cost statement to allow for profit?Profit percentageProfit extraProfit inclusionProfit markup
- 20. Multiple ChoiceA ______ can issue shares on the stock exchange to raise financePLCLtdSole TraderFranchise
- Answer choicesTagsAnswer choicesTags