Finance

Holly Hamilton
Quiz by Holly Hamilton, updated more than 1 year ago
Holly Hamilton
Created by Holly Hamilton over 4 years ago
56
5

Description

For revision , it's all about finance Enjoy lads

Resource summary

Question 1

Question
What is Finance for?
Answer
  • To start up, run and expand a business
  • Cost & Profit
  • Revenue, cost and profit

Question 2

Question
What is short term finance?
Answer
  • It means the amount needs to pay any time you want
  • Short time means a short amount of profit
  • 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
  • Long term finance is a large amount of money paid back within a year
  • 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
  • When funds are found outside the business
  • When funds are found inside the business

Question 5

Question
What is an external source?
Answer
  • Funds found outside the business
  • Funds found inside the business
  • Funds found from another shareholder

Question 6

Question
What's an overdraft?
Answer
  • When you put money onto your credit card
  • Where a bank allows a firm to take out more money than it has in its bank account
  • When you're in debt

Question 7

Question
What is revenue?
Answer
  • The profit of a business
  • X + X = revenue
  • Revenue is the income earned by a business over a period of time

Question 8

Question
How do you work out revenue?
Answer
  • revenue = price + quantity
  • revenue = price x quantity
  • revenue = price / quantity

Question 9

Question
What is profit?
Answer
  • Revenue x 2
  • Whatever's left of the revenue

Question 10

Question
How do you work out revenue?
Answer
  • profit = total revenue + total costs
  • profit = total revenue - total costs
  • profit = total revenue / total costs
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