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IB Business Management 3.2 Challenge! Flashcards | StudBud
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IB Business Management 3.2 Challenge!
IB Business Management 3.2 Challenge!
11 terms
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StudBud Administration
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A review of the key terms introduced in chapter 3.2 of the IB Business Management course.
Flashcards
11 cards
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Practice quiz
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Questions
11
Answers
1
The money
spent to run the operations
of the business is known as...
salary
cost
profit
revenue
2
The difference between the cost of an item and its sale price is called
Unit cost
Profit margin
Overhead
Contribution
3
Overtime pay and phone services
are examples of...
fixed costs
semi-variable costs
anything except costs
variable costs
4
A business can
only
obtain
revenue
from
sales
.
Yes, sales is the only revenue stream.
No, there are other revenue streams.
5
Raw material and packaging
are examples of...
anything but costs
fixed costs
variable costs
semi-variable costs
6
Most
fixed costs
(if unrelated with a good or product) can also be known as...
indirect costs
direct costs
7
The
difference between revenues and costs
is known as...
salary
profit
revenue
cost
8
The money
generated from the sales of goods and services
is know as...
revenue
salary
profit
cost
9
Most
variable costs
(if related with a good or product) can also be known as...
direct costs
indirect costs
10
Costs
can be classified as...
variable, semi-variable and stable
fixed, variable and semi-variable
fixed, sensitive and variable
fixed, variable and social
11
Rent, salaries and insurance
are examples of...
anything except costs
semi-variable costs
fixed costs
variable costs
