Holiday Homework Flashcards
1
Q
What is the BreakEven formula?
A
Fixed costs / (selling price - variable costs)
2
Q
Name a short term source of finance.
A
Overdraft, Trade Credit
3
Q
What are fringe benefits?
A
Non-monetary rewards or benefits (e.g. company cars, company phones, discounts, uniform funds).
4
Q
Define Salary
A
A consistent yearly amount given in 12 monthly installments, regardless of workless.
5
Q
How to calculate closing balance
A
Opening balance + Net Cash Flow
