Duplicate of Finance - N5 Business Management

Question 1

Revenue - Total Costs =

Accepted Answer

Profit

Question 2

A cash budget will show ...

Accepted Answer

Surplus/Deficit Expected

Question 3

A sum of money borrowed for a fixed period of time, repaid with interest

Accepted Answer

Bank Loan

Question 4

Income Statement: Sales - Cost of Sales =

Accepted Answer

Gross Profit

Question 5

Cash Budget: (Opening Balance + Total Receipts) - Total Payments =

Accepted Answer

Closing Balance

Question 6

Private sector businesses have the aim of making a ...

Accepted Answer

Profit

Question 7

Costs that change dependent on output

Accepted Answer

Variable Costs

Question 8

A sum of money that is given for a specific purpose, does not need to be repaid

Accepted Answer

Grant

Question 9

A sum of money borrowed to purchase land or property, repaid with interest

Accepted Answer

Mortgage

Question 10

Money made from selling a product or service to the customer

Accepted Answer

Revenue

Question 11

Giving customers long credit terms can result in poor cash flow

Accepted Answer

True

Question 12

Owners taking too much money out of the business can result in poor cash flow

Accepted Answer

True

Question 13

Income Statement: Gross Profit - Expenses =

Accepted Answer

Profit for Year

Question 14

Raw materials are an example of ...

Accepted Answer

Cost of Sales

Question 15

Costs that do not change, regardless of output

Accepted Answer

Fixed Costs

Question 16

Wages, Electricity, Rent and Stationery are examples of ...

Accepted Answer

Expenses

Question 17

Fixed Costs + Variable Costs

Accepted Answer

Total Costs

Question 18

The point at which total revenue is the same as total costs

Accepted Answer

Break Even Point

Question 19

Cash flow can be improved by ...

Accepted Answer

Looking for a cheaper supplier, selling assets no longer needed

Question 20

Taking more money out of a bank account than is available

Accepted Answer

Overdraft

Questions 20