PCBA - Finance and Costing - Quiz 3 - Holistic College Dublin

1. Question

Which of the following is an example of a fixed cost?

Rent
Communications
Supplies
Power

2. Question

What would a business normally use a spreadsheet for?

Producing leaflets for marketing purposes
Preparing a talk or demonstration
Ensuring that the client’s database is up-to-date
Preparing a cash flow forecast

3. Question

What is a balance sheet?

A statement of the assets and liabilities of the business on a particular day
A statement drawn up on a particular date which shows the total assets and liabilities of the business and how they have been financed
A statement of the income made, the expenditure of a business and the difference between the two
A statement that records transactions relating to purchasese, expenses and any increase in the assets of the company

4. Question

When ordering products it is important to order those that:

Sell slowly in order promote them
Sell slowly and are the therapist’s preference
Sell slowly and have packaging that looks good on the shelves
Sell quickly to ensure that they do not sit on the shelves for too long

5. Question

What is cash flow?

The number of credit card transactions that have been made
The flow of products paid for in cash
The flow of money in and out of a business
The flow of expenditure only

6. Question

Which of the following is a variable business cost?

Postage
Rent
Fixed period loan repayments
Road tax

7. Question

What is gross profit?

Money that can be offset against the next invoice
The final profit after all deductions
A method of checking credit worthiness
The amount left when the cost of sales has been deducted from the total revenue of the business

8. Question

When ordering products it is important to order those that:

Sell slowly in order to promote them
Sell slowly and are the therapist’s preference
Sell slowly and have packaging that looks good on the shelves
Sell quickly to ensure that they do not sit on the shelves for too long

9. Question

Which of the following documents provides details and prices of goods or servicesReceived?

. A delivery note
A statement
An invoice
A purchase order

10. Question

Which of the following statements is correct with regard to a balance sheet?

The purpose of the balance sheet is to document all business transactions for a period of one year
The purpose of the balance sheet is to record when goods have been packed and are ready for delivery
The purpose of the balance sheet is to detail all the assets and liabilities of a business and to show how they have been financed on a set day
The purpose of the balance sheet is to request payment for goods before they are dispatched

11. Question

What is net profit?

The amount remaining after the gross profit has been deducted from the total revenue
The amount remaining after the total costs of the business have been deducted from the total revenue of the business for a particular period of time
The total revenue of the business less fixed costs
The total sales of the business less the value of stock left in the business at the year end

12. Question

What is a balance sheet?

A statement of the assets and liabilities of the business on a particular day
A statement drawn up on a particular date that shows the total assets and liabilities of the business and how they have been financed
A statement of the income made, the expenditure of a business and the difference between the two
A statement that records transactions relating to purchases, expenses and any increase in the assets of the company

13. Question

Which of the following should be taken into account when costing a treatment?

The number of times a treatment has been booked
Only the number of therapists available per week
Materials, wages, overheads, profit margin
Only the amount of products used per day

14. Question

What type of cost is expenditure on consumables?

Fixed
Indirect
Overheads
Variables

15. Question

Which of the following documents gives details and prices of goods or services received?

A delivery note
A statement
An invoice
A purchasing order

16. Question

Which of the following is an example of a fixed cost?

Rent
Communications
Supplies
Power

17. Question

What is the term used to describe; the statements of the income made, the expenditure of a business and the difference between the two?

Cash flow forecast
Profit and loss
Balance sheet
Business statement

18. Question

What does the term net profit mean?

The sum received before income tax and national insurance have been paid
The amount used to calculate the amount of income tax that is payable
The amount used to calculate the amount of national insurance that is payable
The sum received after income tax and national insurance have been paid

PCBA – Finance and Costing – Quiz 3