finance Flashcards
1
Q
Total Revenue
A
Price x Quantity sold
2
Q
Sales Volume
A
The number of units sold in a period of time.
3
Q
Fixed costs
A
total costs - variable costs
4
Q
total cost
A
Fixed costs + variable costs
5
Q
profit
A
Total revenue - Total cost
6
Q
Stock
A
Product sold
7
Q
Long term finance
A
When a business borrows money using long-term finance methods, it expects to E.g Loans
8
Q
Short term finance
A
financing needs for a small period E.g Credit card
9
Q
Personal savings
A
Money you store in a bank account
10
Q
Loan
A
A certain amount of money you borrow from the bank that needs to be paid by a certain amount of time with an interest rate per anum
11
Q
Break even formula
A
Fixed costs / Contribution
12
Q
Contribution
A
selling price - variable cost
