Homework (HT2.3- Gross Profit)

Homework (HT2.3- Gross Profit)

10th Grade

10 Qs

quiz-placeholder

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Homework (HT2.3- Gross Profit)

Homework (HT2.3- Gross Profit)

Assessment

Quiz

Business

10th Grade

Medium

Created by

Kristie Hallmark

Used 3+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula for calculating Gross Profit?

Revenue - Operating Expenses

Revenue - Cost of Goods Sold

Revenue - Taxes

Revenue - Net Profit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a factor that can affect Gross Profit?

Interest Rates

Cost of Goods Sold

Employee Satisfaction

Tax Rates

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is Gross Profit important for a business?

It shows the total revenue of the business.

It indicates the profitability of core business activities.

It reflects the total expenses of the business.

It determines the tax liability of the business.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a company has a revenue of £500,000 and a Cost of Goods Sold of £300,000, what is the Gross Profit?

£200,000

£300,000

£500,000

£800,000

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would likely increase a company's Gross Profit?

Increasing the cost of raw materials

Reducing the selling price of products

Increasing sales volume while maintaining the same cost of goods sold

Increasing employee wages

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a decrease in the Cost of Goods Sold affect Gross Profit?

It decreases Gross Profit.

It has no effect on Gross Profit.

It increases Gross Profit.

It doubles the Gross Profit.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT included in the calculation of Gross Profit?

Revenue

Cost of Goods Sold

Operating Expenses

Sales Returns

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