Profit and Loss

What is another name for a business' sales revenue?

• Sales

• Costs

• Sales turnover, turnover or revenue

• Profit and Loss

What does the money spent on materials affect?

• Gross Profit figure only

• Net Profit figure only

• Both Gross Profit and Net Profit figures

What is the formula for profit after tax?

• Net profit before tax + corporation tax

• Net profit before tax - corporation tax

• Net profit after tax - corporation tax

• Net profit after tax + corporation tax

Which type of profit shows how successful the business activity has been?

• Operating Profit

• Sales

• Expenses

• Dividends

A Profit and Loss Account summarises a business's

• stock and raw materials

• highs and lows

• pros and cons

• revenues and costs

If a business's costs exceeds it sales revenue, it will experience a ........?

• loan

• profit

• loss

• debt

Which group is interested in a business's profit and loss account?

• Stillholders

• Stileholders

• Stakeholders

• Staleholders

A profit and loss account can help a business to?

• forecast

• typecast

• foretell

• foreshadow

Businesses are legally required to produce Profit and Loss Accounts for?

• the police

• the council

• the Queen

• the Inland Revenue

In the UK the financial year runs between?

• 6 January to 5 January

• 6 February to 5 February

• 6 March to 5 March

• 6 April to 5 April