ESB Domain 4 Quiz

Bob owns a car dealership. He just received a shipment of luxury sports cars. He paid $50,000 for each vehicle and wants to make 25% on each car sale. What is Bob's selling price?

• $62,500

• $72,500

• $65,000

• $38,000

Which three types of information can be found an a balance sheet?

• Stock Options

• Production costs

• Liabilities

• Equity

• Assets

Suzy owns a pet salon. Her assets include $6,500 in cash, $2,400 in inventory, $8,000 in equipment, and $15,000 for a mobile unit. Her liabilities include a $3,500 credit card balance, $2,200 in bank loans, and $12,500 in mortgage payments for the pet salon. What is Suzy's equity?

• $14,000

• $13,400

• $13,700

• $13,200

Which two types of information can be found on a profit and loss statement?

• Assets

• Expenses

• Liabilities

• Revenues

John owns a bike shop. Last quarter's income was $8,000, his cost of goods was $650, and his total expenses were $4,300. What are John's net income and gross income for the last quarter?

• Net Income = $3,000 and Gross Income = $7,300

• Net Income = $3,050 and Gross Income = $7,350

• Net Income = $3,050 and Gross Income = $7,530

• Net Income = $7,350 and Gross Income = $3,050

Variable costs _____ depending on production.

• increase

• fluctuate

• remain the same

• decrease

Mr. Bloomer owns a restaurant. He had a beginning cash balance of $2,500, $57,250 in total cash sales, $5,300 for utilities, $7,500 in loan payments, and $3,200 for marketing costs. What is Mr. Bloomer's ending cash balance for the year?

• $75,700

• $60,750

• $15,000

• $43,750

Variable costs _____ depending on production.

• increase

• fluctuate

• remain the same

• decrease

Lucy owns a shoe store. Her starting balance last month was $17,300. Her ending balance was $14,700. What is Lucy's burn rate?

• -$4,200

• -$2,600

• $4,200

• $2,600

Terri owns a convenience store. Her revenue at the end of last month was $7,450. What is Terri's run rate?

• $89,400

• $112,400

• $106,750

• $74,000