Test revise 1 0.0 / 5 ? BusinessFinance for businessBTEC NationalEdexcel Created by: jackvarnals1Created on: 18-11-14 10:16 Give some examples of Fixed Costs Insurance, Rates, Salaries, Rent, Monthly Contract, 1 of 7 Give some examples of Variable Costs Wages, VAT, Machinery, Electricity, Materials 2 of 7 What is the equation for the Break Even Point Fixed Costs divided by (Selling Price minus Variable Costs) 3 of 7 Give two ways how you increase profit Increase prices or lower your expenses 4 of 7 What is a current liability It is money that must be paid back with a year 5 of 7 What is a long term liability They can be paid back over a longer period than a year 6 of 7 Give examples of a current liability Suppliers and bank overdraft 7 of 7
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