SGS Business Unit 1 Finance Knowledge Test

SGS Business Unit 1 Finance Knowledge Test

9th - 11th Grade

25 Qs

quiz-placeholder

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SGS Business Unit 1 Finance Knowledge Test

SGS Business Unit 1 Finance Knowledge Test

Assessment

Quiz

Business

9th - 11th Grade

Hard

Created by

Ally Peake

Used 16+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What assumption does this statement say "Break even is 54 units"?

if we sell 55 we aren't making a profit

if we sell 54 we begin to make a profit

if we sell 55 we begin to make a profit

if we sell 54 we are not yet at break even point

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the margin of safety?
the margin between projected units and break even point units
the margin between profit and loss
the margin between units and sales
the margin between each break even point

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for contribution?

cost price - selling price

fixed costs - variable costs

selling price - variable cost

selling price - cost price

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To draw the BE graph you must plot Total Costs and ........
Total Production
Total Revenue
Total Fixed Costs
Total Units

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is the break-even point in units for a company whose total fixed costs are £275,450; selling price per unit is £16; and variable cost per unit is £14.75?

220,360

150,300

183,633

225,120

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which option is the correct formula to calculate total sales revenue?

Selling price per unit x output sold

Total fixed costs + total variable costs

Unit cost x output

Total inflows - total outflows

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A business has an agreed overdraft limit of £10,000, which it has used 75% of, on average, throughout the year. The interest rate on the overdraft facility is 15% per annum. Which option represents the amount of interest the business paid this year on its overdraft?

£1,125

£1,500

£7,500

£8,625

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