AS Business Studies- Costs, Profit and Revenue

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Created by: Tally
Created on: 17-11-10 10:37

1. What is the name given to costs that do not change with the level of output?

Fixed
Variable

1 of 6

2. What is the profit if Total costs are £157,000 and Revenue is £150,000?

(7,000)
7,000
17,000

3. Profit= Revenue - Total Costs

True
False

4. What is an example of a Variable cost?

Rent
Raw materials
Overheads
Wages

5. The formula for calculating revenue is:

Quantity sold x Average selling price
Quantity Sold + Profit
Total costs + Profit
Average Selling Price- Costs

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Comments

eden

Report Sun 9th January, 2011 @ 14:10

wages are a variable cost.

Oliver Hurley

Report Tue 5th April, 2011 @ 19:59

100%!

Jack Dawson

Report Fri 6th May, 2011 @ 23:01

eden wrote:

They can be, this does depend on whether they obtain bonuses but yeah they are variable

Elisabeth

Report Wed 18th May, 2011 @ 20:02

Yeaaah 100% :D

zainab

Report Mon 23rd May, 2011 @ 22:34

100% easy

alex

Report Sun 13th November, 2011 @ 23:20

100% YAY!

Lex

Report Sun 4th December, 2011 @ 21:07

100% that was pretty easy ;)

abc

Report Fri 30th December, 2011 @ 13:38

100%

well easy

Nikki

Report Thu 5th January, 2012 @ 18:07

why does a bracket mean minus???????????????

bradley

Report Mon 9th January, 2012 @ 13:59

Wages are definately variable costs

Stuart

Report Tue 10th January, 2012 @ 21:04

Wages are a variable cost, salary is a fixed cost.

Love will never leave us alone..

Report Tue 3rd April, 2012 @ 10:54

in an exam, unless the case study specifically said the wages would change, they would not be considered a variable cost; be careful.

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AS Business Studies- Costs, Profit and Revenue

1. What is the name given to costs that do not change with the level of output?

Other questions in this quiz

2. What is the profit if Total costs are £157,000 and Revenue is £150,000?

3. Profit= Revenue - Total Costs

4. What is an example of a Variable cost?

5. The formula for calculating revenue is:

Comments

Similar Business Studies resources:

1. What is the name given to costs that do not change with the level of output?

Other questions in this quiz

2. What is the profit if Total costs are £157,000 and Revenue is £150,000?

3. Profit= Revenue - Total Costs

4. What is an example of a Variable cost?

5. The formula for calculating revenue is:

Comments

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