Short assessment revenue, cost and profit

sara colaj
Quiz by , created 9 months ago

Short assessment on revenue, cost and profit.

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sara colaj
Created by sara colaj 9 months ago
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Question 1

Question
Income earned by a business over a period of time.https://www.goconqr.com/assets/icons/trash-ellipse.png
Answer
  • Revenue
  • Profit
  • Items
  • Cashflow

Question 2

Question
Were do businesses earn most of there income from?
Answer
  • Selling products to customers.
  • Paying employees.

Question 3

Question
What is the calculation for revenue (formula)
Answer
  • Revenue= Quantity x Price.
  • Revenue=Fixed cost x Variable cost.
  • Revenue= Quantity / Price.
  • Revenue= Fixed cost / Variable cost.

Question 4

Question
Variable costs are costs that will increase as the firm expands.
Answer
  • True
  • False

Question 5

Question
Variable costs are costs that will decrease as the firm expands.
Answer
  • True
  • False

Question 6

Question
Fixed costs are only fixed over a _____________________ - an expanding firm's fixed costs will go up.
Answer
  • Short period of time.
  • Long period of time.