Paper 1 Flashcards

1
Q

What is the formula for % change?

A

(new value – original value) / original value x 100

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is unit costs?

A

Total Cost ÷ Output

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is % interest?

A

(total repayment - borrowed amount)/borrowed amount x 100

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Total Revenue

A

Selling Price x Number Sold

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Total Fixed Costs

A

All fixed costs added together

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Total Variable Costs

A

Variable cost per unit x Number sold

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Total Costs

A

Total Fixed Cost + Total Variable Cost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Profit

A

Total Revenue – Total Cost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Contribution per unit

A

Selling Price – Variable cost per unit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Break Even Point in units

A

Fixed Cost ÷ Contribution per unit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Break even point in currency

A

break even point in units x sales prices

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Margin of Safety

A

Actual Output – Break Even output

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Total contribution

A

Total revenue – total variable costs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Total Inflows/ Total Income

A

All inflows/ income added together for that month

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Total Outflows/ Total Expenditure

A

All outflows/ expenditure added together for that month

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Net Cash Flow

A

Total inflows/income – Total outflows/expenditure

17
Q

Opening Balance

A

Last month’s closing balance

18
Q

Closing Balance

A

Opening Balance + Net Cash Flow