Other questions in this quiz

2. Define start up cost

  • The costs incurred when setting up a business
  • A cost which stays the same every month
  • A cost which changes directly with output

3. The business sell books for £12 each. They cost £5 to make. The fixed costs are £735. Calulate the break even

  • 795 books
  • £795
  • 105 books
  • £105

4. Describe the purpose of a statement of financial position (balance sheet)

  • To predict the financial position of the business
  • To show the financial position of a business at a point in time
  • To show what a business owns

5. Which of the following best describes capital?

  • The expense over the year
  • What the business owes
  • How a business is funded
  • The earnings over the year



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