Profit and Loss Quiz
Authored by Seb Hart
Social Studies
10th Grade
Used 3+ times
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32 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate profit?
Total Revenue - Total Expenses
Total Revenue + Total Expenses
Total Revenue x Total Expenses
Total Revenue / Total Expenses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between cash and profit?
Cash is the money available, profit is the money earned after expenses.
Cash is the money earned after expenses, profit is the money available.
Cash and profit are the same.
Cash is the money borrowed, profit is the money saved.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When is a profit made?
When total revenue is greater than total expenses.
When total revenue is less than total expenses.
When total revenue equals total expenses.
When total revenue is zero.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When is a loss made?
When total expenses are greater than total revenue.
When total expenses are less than total revenue.
When total expenses equal total revenue.
When total expenses are zero.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate sales revenue?
Price per unit x Number of units sold
Price per unit + Number of units sold
Price per unit - Number of units sold
Price per unit / Number of units sold
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does cash typically refer to?
Money in hand and liquid assets
Total revenue minus total costs
Financial gain
Amount spent
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula for calculating profit?
Total Revenue + Total Costs
Total Revenue - Total Costs
Total Costs - Total Revenue
Total Revenue x Total Costs
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