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Break Even

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A quiz about break even for year 9 enterprise #business #breakeven

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Questions 10

Answers

1
Define the term margin of safety.
A business that has made a loss
How much output /sales can fall before break even is reached
A business that is making a profit
Amount of sales needed to make a profit
2
What is the calculation for break even?
Fixed costs + Selling price + Variable costs
Selling Price - Fixed Costs / Variable Costs
Fixed costs - Variable costs / Selling Price
Fixed costs / Selling price - variable costs
3
When sales are LOWER than costs, the business is making a ...
Loss
Margin of Safety
Revenue
Profit
4
What are sales equals to in break even?
costs
revenue
loss
profit
5
What are costs called when they DO NOT change according to the number of sales?
Accumulated Costs
Variable Costs
Total Costs
Fixed Costs
6
When revenue is HIGHER than costs it is known as ...
Loss
Profit
Margin of safety
Revenue
7
What are costs called that DO vary according to the number of sales?
Total Costs
Variable Costs
Accumulated Costs
Fixed Costs
8
Which of these are not key terms relating to break even? (may be more than 1)
costs
revenue
assets
liabilities
9
How do you work out the Total Revenue?
Selling price x Quantity
Selling price / Quantity
Quantity - Selling price
Selling price + Quantity
10
What does the horizontal line show on a break even chart?
Total Costs
Fixed costs
Total Revenue
Variable costs