Business Finance Flashcards
1
Q
Variable costs
A
Variable cost per unit x number produced
2
Q
Total costs
A
Fixed costs + variable costs
3
Q
Profit
A
Total revenue - total costs
4
Q
Contribution
A
Selling price - variable cost per unit
5
Q
Gross profit
A
Sales revenue - cost of sales
6
Q
Net profit
A
Gross profit - expenses
7
Q
Total current assets
A
Stock + debtors + cash
8
Q
Sales revenue
A
Selling price X number sold
