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10 Terms for Money Flashcards | StudBud
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10 Terms for Money
10 Terms for Money
10 terms
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Questions
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Answers
1
An asset is...
A form of savings
A valueless item
A debt owing
A valuable item
2
Which of these is calculated by taking liabilities (debts) away from assets?
Capital
Assets
Revenue
Equity
3
How is Net Profit calculated?
Gross Profit + Raw Materials
Gross Profit minus Expenses
Gross Profit + Expenses
Gross Profit minus Raw Materials
4
Which term means sales from the usual products?
Income
Net Profit
Gross Profit
Revenue
5
What is a definition of cash?
Instantly accessible
In a savings account
Notes and coins
Valuable item
6
Rent, loan repayments, cleaning, stationery, electricity bills would all be classed as...?
Liabilities
Equity
Assets
Expenses
7
Which of these would be classed as income?
Rental income from a property
Investment from your own shareholders
A bank loan
Owner putting in their own cash
8
Which term describes spending cash now to generate profit in the future?
Equity
Investment
Capital
Assets
9
Gross Profit is calculated by:
Income minus all expenses
Sales minus all expenses
Expenses minus raw materials
Sales minus cost of the products
10
Which of these terms means cash or important items used to start or run a business?
Cash
Asset
Capital
Investment
