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6. How do you calculate total revenue?

  • Quantity sold x Average price.
  • Quantity sold x Average cost.
  • Quantity sold x Average profit.

7. What does the amount of revenue a business earns each month depend on?

  • Both selling price and quantity sold.
  • Quantity sold.
  • Selling price.

8. An increase in output does not mean an increase in:

  • Direct costs.
  • Overheads.
  • Variable costs.

9. When is a business making loss?

  • When revenues are less than costs.
  • When revenues are less than costs.
  • When revenues equal costs.

10. What is revenue sometimes called?

  • Price.
  • Turnover.
  • Overheads.