Profit, Loss, Revenue & Cost Quiz

Froggy Jumps

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About this activity

Test your understanding of profits, revenue, loss and costs.

Created by

Tait Midthun

United States

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Profit, Loss, Revenue & Cost Quiz


Froggy Jumps Profit, Loss, Revenue & Cost QuizOnline version Test your understanding of profits, revenue, loss and costs. by Tait Midthun 1 What is the formula for profit in business terms? a Costs plus taxes b Total sales c Revenue minus costs 2 What is a loss? a When revenue exceeds costs b When your costs exceed your revenue c When you have zero profit and break-even 3 Which is included in revenue? a Net income after tax b Money received from sales c Costs paid to suppliers 4 What does cost represent? a Money spent to produce goods or services b Profit after tax c Money earned from customers 5 How can lowering costs help a business increase its profit? a The business earns less money from customers b The business keeps more money after paying expenses c The business spends more money on supplies 6 Why is it good for a business to examine its revenue, profit, and costs? a To know if the business is making money or losing money b To decide what color the building should be c To count how many workers the business has 7 What is a profit? a Revenue minus total costs b The amount paid for a good or service c Revenue minus taxes only 8 Which of the following is an example of cost? a The money used to purchase ingredients and wrappers b The amount of money earned from selling something c When the revenue exceeds the cost 9 What is the best definition of a service? a A physical object that you buy at a store and keep in your room. b Work that someone does for you. c A type of money used to pay for things at the mall. 10 What is the best definition of a product? a Anything that is made, grown, or provided to be sold, which includes both goods and services. b The feeling you get when you do something nice for a friend. c A task someone performs for you, like cutting your hair. 11 The total money a business gets from selling to customers is called: a Profit b Loss c Revenue 12 If a toy store’s revenue is $400 and its cost is $500, what does the store have? a Loss b Profit c Revenue 13 Sam runs a car wash and washes 5 cars for $8 each. He spends $12 on supplies. Does Sam have a profit or loss? a Profit b Loss c Revenue 14 A bake sale earns $120 from selling cookies. The ingredients cost $75. What is the profit? a $45 b $55 c $195 15 A lawn service earns $90 for mowing lawns. It costs $40 for gas and equipment. What is the cost? a $90 b $50 c $40 16 A lemonade stand earns $50. The cups, lemons, and sugar cost $65. What is the result? a Loss b Profit c Revenue 17 A school store sells snacks and makes $200 in sales. This $200 is called the: a Profit b Loss c Revenue 18 A pet-sitting business earns $75. It costs $25 for treats and toys. What is the profit? a $100 b $50 c $25 19 A student spends $18 on supplies to sell slime. What is the $18 called? a Profit b Cost c Revenue 20 A video game stand earns $150. It costs $100 to buy the games. What does the business earn? a Loss b Divedend c Profit

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Profit, Loss, Revenue & Cost Quiz

Froggy Jumps

About this activity

Created by

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Profit, Loss, Revenue & Cost QuizOnline version

by Tait Midthun

What is the formula for profit in business terms?

What is a loss?

Which is included in revenue?

What does cost represent?

How can lowering costs help a business increase its profit?

Why is it good for a business to examine its revenue, profit, and costs?

What is a profit?

Which of the following is an example of cost?

What is the best definition of a service?

What is the best definition of a product?

The total money a business gets from selling to customers is called:

If a toy store’s revenue is $400 and its cost is $500, what does the store have?

Sam runs a car wash and washes 5 cars for $8 each. He spends $12 on supplies. Does Sam have a profit or loss?

A bake sale earns $120 from selling cookies. The ingredients cost $75. What is the profit?

A lawn service earns $90 for mowing lawns. It costs $40 for gas and equipment. What is the cost?

A lemonade stand earns $50. The cups, lemons, and sugar cost $65. What is the result?

A school store sells snacks and makes $200 in sales. This $200 is called the:

A pet-sitting business earns $75. It costs $25 for treats and toys. What is the profit?

A student spends $18 on supplies to sell slime. What is the $18 called?

A video game stand earns $150. It costs $100 to buy the games. What does the business earn?