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Profit And Loss Quiz 5 (10 MCQs)

Quiz Instructions

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1. The profit and loss account, or the profit statement, shows the net profit (or loss) of a business at the end of a trading period.
2. Angela sells dolls houses at $ 50 each. Each dolls house costs her $ 32 to make. Her fixed costs are $ 2700. How many dolls houses must Angela make in order to break-even?
3. A man bought an ice-cream for $ 10 and sold it for $ 8. Did the man make a profit or loss?
4. If CP (Cost Price) is greater than SP (Selling Price) it is a profit
5. Find the loss of a watch that cost RM190 and sold for RM175.
6. You want to sell a filing cabinet and are prepared to make a 30% loss. If the cabinet cost you $ 900, how much will you loss be?
7. Gain or Loss is expressed as a percentage of
8. Gina bought a dress for Rp150,000 and sold it for Rp140,000.
9. A fruit seller buys oranges for Rp90.000 and sells them for Rp75.000. The loss is .....
10. Average net profit of the company is Rs 75,000 and Average Capital employed is 9,32,500 and the normal rate of return is 8%. Calulate value of Goodwill at 5 year's purchase of super profit.
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