| Question | Answer |
| This is the main source of finance for limited companies | share capital
|
What is the Gross Profit if Sales are: 10,000 and COGS are 3,000 | 7000
| What is the main source of finance for sole traders? | personal funds
| What is the break-even formula? | TR=TC or TFC/Unit Contribution
| Wages are what type of cost? | Variable
| What costs are salaries? | Fixed
| A portion of the profits that are given to shareholders are known as? | Dividends
| P=$5, AVC=$2 & TFC = $6000, what is the BEQ? | 2000 units
| If actual demand is 4000 units and BEQ is 1000, what is the margin of safety? | 3000 units
| This financial document shows the assets and liabilities of a business at a given time. | Balance sheet
| This financial account includes Turnover, COGS and Expenses. | Profit and loss account
| Turnover is also known as... | Sales revenue
| TR - TC = ? | Profit
| Working capital is calculated by:? | Current Assets - Current Liabilities
| Which document(s) does the acid test figures come from? | Balance sheet
| Which document(s) does the ROCE figures come from? | P&L & Balance sheet
| Trade credit is a strategy to improve which ratio(s)? | Liquidity ratios
| What are assets that are non-physical and fixed called? | Intangible assets
| Patents and copyrights are categorized as what type of asset? | Intangible or fixed assets
| HL ONLY - Depreciation is expressed on the P&L under which category? | Expenses
| This ratio indicates how well a business generates profit from its money invested in the business. | ROCE |
