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6. What is the formula for ARR?
- no. of years/ initial cost
- total net return/no. of years/initial cost x 100
- total net return/no. of years
7. One reason why businesses invest?
- to replace an obsolete or depreciated asset
- to enhance the image of the business
8. What is correlation?
- The smoothing of fluctuations to see if a trend is significant
- The extension of a trend.
- The relationship between two variables
- The trend as it moves year to year
- The relationship between two trends.
9. What is a profit centre?
- A centre that generates profit
- An identifiable part of a business that is responsible for revenue and costs.
- A department in a firm
10. What is a test market?
- The analysis of a marketing using factitious data.
- The launching of a product in a geographical area in order to asses marketing methods used.
- To enter into a new market