Have an account?
What source of finance would you apply for if you wanted to buy a house?
What does the term Sales Revenue mean?
When the business receipts exceed its payments
All the money the business makes from its sales
When the business payments exceed its receipts
The extra money paid back to the bank on top of the amount borrowed
What is meant by an expense?
Day to day running costs of a business
Things a business owns that they will have for a long time
Money left at the end of the month
Things the business will buy to then sell in their business
Which of these is not a business expense?
What do you call the extra money that you pay on top of a loan?
What is the name of the software application used mostly in Finance
What type of formula would you use to add up a long column of figures
Which of the following is not a responsibility of the Finance Department?
Completing Cash Budgets
Which of the following sources of finance doesn't need to be repaid?
Loan from family and friends
If a business has a positive figure in the closing balance in a cash budget this is called???
Which of the following would help a business if they had a deficit on their cash budget
Obtain a bank loan
Find a more expensive supplier
Where staff get paid a certain amount for the year and this is then split into 12 monthly payments. What is being described here?
If a member of staff earns £8 for a basic hour, what will they receive for an hour if overtime is paid at time and a half
Which of the following is not a deduction from wages?
What is not paid for out of national insurance contributions?
Old Age Pension
If it costs £2000 to complete a job and the customer is quoted a price of £2500, how much profit is the business making?
Which of the following is not an advantage of using a spreadsheet?
Less errors are likely to be made as calculations are done for you
Graphs can be produced very quickly
Slides can be produced for a presentation
You can replicate formulae across rows or down columns
Which of the following wouldn't be produced on a spreadsheet?
Job Costing Statement