Lesson 1 Flashcards
(15 cards)
1
Q
Sales turnover
A
The total amount of products or services sold over a given period of time
2
Q
Revenue
A
-The money companies earn by selling their products and services
-Estimated revenue= Number of items sold x Average price
3
Q
Fixed Costs
A
-Money out of the business that is not affected by the level of sales
-Examples ;rent, wages, advertising
4
Q
Variable costs
A
- Money out of the business that are affected by the level of sales
- Examples; packaging, delivery costs, raw materials
5
Q
Profit
A
6
Q
Loss
A
7
Q
Accounting period
A
8
Q
Gross profit
A
9
Q
Net profit
A
10
Q
A
11
Q
Gross profit
A
The profit into a business excluding expenses
Revenue - cost of sales
12
Q
Net profit
A
The profit into a business after factoring in expenses
Revenue - cost of sales - expenses
13
Q
Gross profit margin
A
Gross profit margin = gross profit / revenue x100
Answer as a percentage %
14
Q
Net profit margin
A
Net profit margin = net profit / revenue x100
Answer in a percentage %
15
Q
A
