Measurement and the Importance of Profit
Profit Measurement Quiz
Test your knowledge on revenue, variable costs, and fixed costs with this engaging quiz designed for business enthusiasts and students alike.
Explore key concepts including:
- Understanding revenue and its synonyms
- Calculating total revenue from sales
- Differentiating between fixed and variable costs
If the selling price for an item is £20 and 5 products are sold, what is the total revenue generated?
£50
£100
£4
What can be classed as a variable cost?
Rent
Raw Material
Grandma's Knitting
When can a variable cost change?
Every Month
Any Time
Every 5 Years
What can the variable cost do?
Make the business a loss.
Either profit/loss/ break even.
Makes the business break even.
Makes the business a profit
What is an example of a fixed cost?
Insurance for a company car.
Plastic to make a product.
A cleaners wages.
Will fixed costs always be the same amount?
Yes
Depends on the company.
No
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