Methods of forecasting costs and revenue quiz

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Methods of forecasting costs and revenue quiz

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Kai

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Methods of forecasting costs and revenue quiz


Froggy Jumps Methods of forecasting costs and revenue quizOnline version Methods of forecasting costs and revenue quiz by Kai 1 Why should businesses forecast revenue? a To know what they will be likely to spend and plan accordingly b To allow themselves to set sales budgets for what they can afford to buy c To calculate their profit 2 Which of these is not a consequence of poor cost forecasting? a Increased loss b Damaged reputation c Reduced profits 3 Which of these is not a form of business revenue? a Value added products b Marketing c Government grants/subsidies 4 What is a commodity price gain? a Creating new products by processing them and adding more value b Regular income from contracts to supply goods and services c Buying commodities ahead of time- price gains on commodities increases revenue 5 Which of the following is a revenue forecasting tool? a Market research b “What if” analysis c Budgeting 6 True or false- updating records against forecast sales causes confusion and uncertainty with future forecasts a True b False c Idk 7 Which of the following is NOT an accurate revenue forecasting tool? a Profit/loss statement b Customer surveys c Historical data analysis 8 What is an opportunity cost? a Ongoing expenses of the normal day to day running of a business b Costs that can be managed and controlled internally c The value of the next best alternative when a decision has to be made 9 Which list best describes costs that can be predictably forecast? a Controllable costs, sunk costs, fixed costs b Variable costs, Operating costs, Controllable costs c Fixed costs, operating costs, variable costs 10 Which of the following is NOT a challenging cost to forecast? a Variable costs b Opportunity costs c Indirect costs 11 Why are fixed costs unpredictable for forecasting? a Are subjective and based on theoretical value b They are not related to a specific product or activity c They can change long term through contract changes and agreements 12 What is regression analysis? a Statistical technique to model relationships between costs and other factors such as sales or time b Setting financial goals and allocating resources c Examining past data to identify patterns and trends 13 Which of the following is NOT a method of forecasting costs? a Government programme evaluation b Budgeting c Historical data analysis

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Methods of forecasting costs and revenue quiz

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Methods of forecasting costs and revenue quizOnline version

by Kai

Why should businesses forecast revenue?

Which of these is not a consequence of poor cost forecasting?

Which of these is not a form of business revenue?

What is a commodity price gain?

Which of the following is a revenue forecasting tool?

True or false- updating records against forecast sales causes confusion and uncertainty with future forecasts

Which of the following is NOT an accurate revenue forecasting tool?

What is an opportunity cost?

Which list best describes costs that can be predictably forecast?

Which of the following is NOT a challenging cost to forecast?

Why are fixed costs unpredictable for forecasting?

What is regression analysis?

Which of the following is NOT a method of forecasting costs?