Business Costs

Families and companies can use reserves or … to survive temporary difficulties.

• products

• assets

• goods

• salaries

During the crisis, many of the companies that they had invested in went … .

• partners

• competing

• bankrupt

• abroad

Most family payments, like the house, energy bills and telephone bills are … .

• fixed

• variable

• total

• marginal

... is a point in a business venture when the profits are equal to the costs.

Match the synonyms.

• reserve

• profit

• COGS

• variable costs

• revenue

• fixed costs

• operating expenses

• resource

• overtime

• extra hours

Reorder the following.

• is the total of all costs

• used to create

• a product or service

• Cost of goods sold

• which has been sold.

​ (a)   include expenses that remain constant for a period of time irrespective of the level of outputs, while ​ (b)   are expenses that change directly and proportionally to the changes in business activity.

• Fixed costs
• Variable costs

A ... is an instruction that you give to your bank to pay somebody a fixed amount of money from your account on the same day each week/month, etc.

The ... of a company is the value of the goods or services sold during a particular period of time.

• profit margin

• gross margin

• turnover

• operating expenses

When an invoice is ​ (a)   it means your client has not paid for a service but they are yet to cross the deadline to do so. When an invoice is ​ (b)   it means your client has not respected his payments terms and paid for a service. The deadline to do so has now passed.

• outstanding
• overdue