1. What is variable costs
- Costs that change depending on the number of products made or sold.
- Costs that stay the same no matter how much products the business makes or sells.
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2. What is the formula for revenue
- Number if sales - Price per unit
- Number if sales / Price per unit
- Number if sales x Price per unit
- Number if sales + Price per unit
3. What is expenditure
- Money the business pays out.
- Money that comes into the business
- Sales of goods
4. What does the term budgetary control mean
- Budgetary control means checking the performance makes sure that targets are met and are within the budget.
- Too set a budget
5. What is the purpose of budgeting
- The purpose of budgeting is to keep revenue and expenditure to planned limit
- The purpose of budgeting is to keep expenditure to planned limit
- The purpose of budgeting is to keep Revenue to planned limit
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