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AQA GCE Business Studies 3.5.1 Finance Terms Flashcards | StudBud

Explore/AQA GCE Business Studies 3.5.1 Finance Terms

What is gross profit?

Direct Costs are...

AQA GCE Business Studies 3.5.1 Finance Terms

11 terms·StudBud Administration·463 plays

A mixture of questions covering financial terms, calculations & profitability ratios

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Questions 11

Answers

1
Direct Costs are...
Overheads
Fixed Costs
Tax
Variable Costs
2
What is gross profit?
Revenue - Fixed Costs
Revenue / Cost of Sales
Revenue - Cost of Sales
Revenue + Cost of Sales
3
How is the operating profit margin calculated?
Revenue - Operating Profit
Revenue / Operating Profit x 100
Operating Profit / Revenue
Operating Profit / Revenue x 100
4
What is the formula for net profit?
Revenue - Operating Costs
Total Revenue - (Variable Costs Per Unit + Fixed Costs)
Revenue / Costs incl. Tax
Revenue - Total Costs incl. Tax
5
Which Ratio should give the highest percentage?
Operating Profit Margin
Net Profit Ratio
Revenue to Costs Margin
Gross Profit Ratio
6
Calculate the gross profit margin: Revenue is £25,000 and gross profit is £5000
0.2
£20
20%
20
7
Calculate Total Costs: 15 items, selling price= £5. Fixed Costs £450 & each costs £4 to make
£525
£510
£454
£390
8
Which of these is NOT another term for money made from sales?
Revenue
Income
Profit
Turnover
9
Which of the following is the most 'liquid'
Stock
Raw Materials
Vehicles
Buildings
10
How is revenue calculated?
Selling Price x Quantity Sold
Selling Price - Total Costs
Quantity Sold + Selling Price
Selling Price x Variable Cost
11
The 'A' of SMART objectives stands for...
Accurate
Achievable
Aim
Accessible