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- 1. Multiple Choice
Meaning of profit is..
A. Total money obtained by selling goods
B. Difference of fixed price and selling price
C. Value remaining after subtracting expenses from earnings
D.Total expenses in transaction
- 2. Multiple Choice
Which of the following is computed as the markup amount divided by the product cost?
A. Markup based on selling price
B. Cost
C. Selling price
D. Markup based on cost
- 3. Multiple Choice
Which of the following is the amount by which the cost of a product is increased in
order to derive the selling price.
A. Margin
B. Markup
C.Cost
D. Selling price
- 4. Multiple Choice
It is the sum of the cost of the product and expenses.
A. Operating Expenses
B. Original Price
C. Selling Price
D. Total Cost
- 5. Multiple Choice
A restaurant offered a promo sale, the original price of a dinner steak was ₱ 849 and
was sold at ₱ 619. What is the mark-down?
A. Php 230
B. Php 250
C. Php 270
D. Php 290
- 6. Multiple Choice
Jerson spends ₱3 500.00 in assembling a mountain bike. He wants to sell it with 30%
margin. How much should he sell it?
A. ₱6 000.00
B. ₱7 000.00
C. ₱4 000.00
D. ₱5 000.00
- 7. Multiple Choice
A trader was able to buy an item with a list price of ₱650.00 per piece. What is the discount
rate, if the trader paid ₱11 960.00 for 20 pieces order of the item?
A. 11%
B. 10%
C. 9%
D. 8%
- 8. Multiple Choice
How do you find the SALE PRICE?
calculate the discount
original price + tax
original price - discount
BOTH A and C
- 9. Multiple Choice
The price of a computer is 25 % off the original price of P800. What is the new cost of the computer?
A. PHP 500
B. PHP 600
C. PHP 700
D. PHP 800
- 10. Multiple Choice
Nenita is selling scented candles where she spends ₱75.00 for each scented candle. If
she wants to put a 60% markup based on cost to set the selling price, what should be her
selling price for each scented candle?
A. ₱150.00
B. ₱300.00
C. ₱120.00
D. ₱200.00
- 11. Multiple Choice
Mang Miguel opened a Mamihan. He knows that each order of mami should be sold at a
price not higher than ₱30.00. If he wants 30% markup on cost, how much should be his cost per
order?
a. ₱21.00
b. ₱9.00
c. ₱30.00
d. ₱39.00
- 12. Multiple Choice
Which of the following statement shows a LOSS situation?
Michael bought a car at P2,000,000 he customized and
upgraded. He sold his car at P3, 300,000.
Vince sold her latest printer at P9,000 due to pandemic.
She bought that printer last month at P18,000
Paul bought a notebook at P 10 each and sold it for P15
The cost of 20 pieces pots is P900 and it was sold for P50
each.
- 13. Multiple Choice
It is the amount left after deducting the amount of expenses from the selling price.
a.Selling Price
b. Mark-Down
c. Mark-Up
d. Profit
- 14. Multiple Choice
What kind of rate if the mark-down is divided by the selling price?
A. Selling Price Rate
B. Mark-on Rate
C. Mark-up Rate
D. Mark-down Rate
- 15. Multiple Choice
Mrs. Giron wanted to have a 40% margin in selling printers. If each printer costs ₱4
500.00, how much should she sell it?
A. ₱6 000.00
B. ₱7 500.00
C. ₱5 500.00
D. ₱6 500.00
- 16. Multiple Choice
Which of the following is TRUE for commission?
A. First payment that one makes when one buys something with an agreement to pay the rest later.
B. The total amount of money a bank has on deposit before adjusting for
uncleared checks or deposits, as well as reserve requirements.
C. A fee that a business pays to a salesperson (agent) in exchange for his services in either facilitating, supervising, or completing a sale.
D. A loan when you use your property as collateral for a loan from a
financial institution.
- 17. Multiple Choice
How much should the lender receive at the end of the term for a Php 5000 in 3 years at 6% interest?
A. Php 900
b. Php 500
c. Php 5,000
d. Php 5,900
- 18. Multiple Choice
Lee receives 10% commission on the appliances he sells. He sell
a TV for P20,000 and P18,100 for a washing machine. How much commission will he get?
a. 2,000
b. 1,810
c. 3,810
d. 2,810
- 19. Multiple Choice
Mr. Tan decided to pay his employee Php3000 per week and
10% commission on sales above Php30,000 for the week. What is the gross pay (salary plus commission)?
a. Php1,000
b. Php2,000
c. Php3,000
d. Php4,000
- 20. Multiple Choice
This refers to the total amount of money a bank has on deposit before
adjusting for uncleared checks or deposits, as well as reserve requirements.
A. Gross Balance
B. Current increased Balance
C. Down payment
D. Commission
- 21. Multiple Choice
What is the formula for simple interest?
A. I = Prt
B. I = P(r+t)
C. I = P(r-t)
D. I = P-(r+t)
- 22. Multiple Choice
In the absence of stipulation to the contrary, a stated rate of interest
is understood to be _____________.
a. Daily basis
B. Monthly basis
C. Quarterly basis
d.Per annum/ annual basis
- 23. Multiple Choice
Given the variable cost 50x and fixed cost of 1000, what is the total cost?
A. 50x – 1000
B. 1000x + 50
C. 1000x – 50
D. 50x + 1000
- 24. Multiple Choice
Which of the following shows break- even?
A. Box of chocolate bought for ₱45 and sold for ₱80
B. ₱30 expenses in preparing a burger then sold it for ₱25
C. An apple you bought for ₱10 then sell it to a friend for ₱15
D. Dozen of cookies that cost you ₱85 then sell it for ₱85
- 25. Multiple Choice
It costs a baker ₱10 to make a cookie and sell it for ₱15 each. If the baker’s fixed
cost is P500, what is the minimum number of cookies she needs to sell to breakeven?
A. 50 cookies
B. 150 cookies
C.200 cookies
D. 100 cookies
- 26. Multiple Choice
What assumption does this statement say "Break even is 54 units"?
A. if we sell 55 we aren't making a profit
B. if we sell 54 we begin to make a profit
C. if we sell 55 we begin to make a profit
D. if we sell 54 we are not yet at break even point
- 27. Multiple Choice
ANGELS Burgers has sales of 250 units, a sales revenue of P26 500, total variable costs of P12 340 and total fixed costs of P4 600 (all annual figures).
Calculate the Profit or Loss
A. BREAK EVEN
B. PHP 9, 560
C. CANNOT BE DETERMINED
D. MORE OR LESS PHP 9, 560
- 28. Multiple Choice
If a business's sales double, its variable costs will also likely
remain the
A. same
B. decrease
C. double
D. increase
- 29. Multiple Choice
One of the main purposes for calculating break-even is to help the business to ___________.
A. determine stock value
B. Prepare an income statement
C. forecast sales
D. set selling prices
- 30. Multiple Choice
What is the break-even point in units for a company whose total fixed costs are P275,450; selling price per unit is P16; and variable cost per unit is P14.75?
A. 225,120
B. 183,633
C. 220,360
D. 150,300
- 31. Multiple Choice
A jacket which costs PhP1,350 is being sold at PhP2,025. What is the rate of markup
based on cost?
A. 15%
B. 35%
C. 50%
D. 60%
- 32. Multiple Choice
Julia buys a notebook with a cost of PhP45. The rate of mark-up based on cost is
25%. Find the selling price.
A. PHP 56.25
B. PHP 66.25
C. PHP 76.25
D. PHP 66.25
- 33. Multiple Choice
A Mitsubishi car is priced at P1,633,000.00. The car
dealer is asking for a 35% down payment and an installment
term of 5 years at a monthly interest of 1.5%. How much is the
total down payment?
A. PHP 1, 061, 450
B. PHP 24, 495
C. PHP 66, 666.69
D. PHP 571, 550
- 34. Multiple Choice
Mike is paid a monthly salary of ₱10,000 and earns a commission of 5% in sales.
He sold a Tv that costs ₱21,500, an electric oven that cost ₱4,500 and a washing
machine worth ₱16,100.
A. P. 2,100
B. P 2,501
C. P 1,250
D. P 2, 105
- 35. Multiple Choice
A sales agent receives PhP12,000 a month corresponding to a sales of
PhP30,000 worth of goods. Furthermore, he receives an additional 6%
commission for all sales beyond his monthly quota but not greater than
PhP50,000. An additional 3% commission is for sales beyond PhP50,000. If his
sales is PhP70,000 for the month, how much is his salary for the month?
A. PHP 12,500
B. PHP 13,800
C. PHP 17, 100
D. PHP 15, 900
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