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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the formula for calculating profit?
💡 Hint: Think about how you find the remaining amount after costs.
Question 2
Easy
If a business has no revenue, what can we infer?
💡 Hint: Remember how profit is calculated.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the main formula to calculate profit?
- Revenue + Expenses
- Revenue - Expenses
- Expenses - Revenue
💡 Hint: Think about what profit represents!
Question 2
True or False: A loss occurs when total expenses are less than total revenue.
- True
- False
💡 Hint: Remember the definition of loss.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A start-up company has the following figures: Revenue = $100,000, Rent = $24,000, Employee Salaries = $50,000, Marketing = $10,000. Calculate the profit or loss and discuss how this might affect the next fiscal year's planning.
💡 Hint: Sum up all costs first!
Question 2
A retail shop reports the following figures in a financial year: Sales = $150,000, Costs = $200,000. Discuss the strategy a business could employ if faced with a loss of $50,000.
💡 Hint: How can the business turn things around?
Challenge and get performance evaluation