5273679
Description
Quiz by Holly Hamilton, updated more than 1 year ago
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Created by Holly Hamilton
almost 8 years ago
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Question 1
Question
What is Finance for?
Answer
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To start up, run and expand a business
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Cost & Profit
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Revenue, cost and profit
Question 2
Question
What is short term finance?
Answer
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It means the amount needs to pay any time you want
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Short time means a short amount of profit
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Short time finance means an amount of money paid back in an amount of time but not much, e.g : a year
Question 3
Question
What is long term finance?
Answer
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Long term finance is a large amount of money paid back within a year
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It means that an amount of money paid within over a few years, longer than short time
Question 4
Question
What is an internal source?
Answer
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When funds are found outside the business
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When funds are found inside the business
Question 5
Question
What is an external source?
Answer
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Funds found outside the business
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Funds found inside the business
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Funds found from another shareholder
Question 6
Question
What's an overdraft?
Answer
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When you put money onto your credit card
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Where a bank allows a firm to take out more money than it has in its bank account
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When you're in debt
Question 7
Question
What is revenue?
Answer
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The profit of a business
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X + X = revenue
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Revenue is the income earned by a business over a period of time
Question 8
Question
How do you work out revenue?
Answer
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revenue = price + quantity
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revenue = price x quantity
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revenue = price / quantity
Question 9
Question
What is profit?
Answer
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Revenue x 2
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Whatever's left of the revenue
Question 10
Question
How do you work out revenue?
Answer
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profit = total revenue + total costs
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profit = total revenue - total costs
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profit = total revenue / total costs
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