Gross and net profit practice

Quiz by Bernice W. Broussard

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15 questions
• Q1

What does the net profit margin tell us?

How effectively a business turns sales into profits

How effectively a business turns costs of goods sold into profits

How effectively a business turns costs into profits

How effectively a business turns operating expenses into profits

30s
• Q2

Revenue = \$100,000

Cost of goods sold = \$50,000

Other expenses = \$25,000

What is the gross profit?

\$50,000

\$100,000

\$75,000

\$25,000

30s
• Q3

What does the net profit margin tell us?

The cash inflows and outflows

How many staff are employed

What type of ownershipship the business has

How efficiently a business is run

30s
• Q4

Why might the gross profit margin go up?

Operating (other) expenses have increased

Operating (other) expenses have decreased

Cost of goods sold have increased

Cost of goods sold have decreased

30s
• Q5

A fall in gross profit margin might suggest_____________.

that suppliers are charging lower prices

that operating (other) expenses have increased

that the business is charging customers higher prices

that suppliers are charging higher prices

30s
• Q6

Revenue = \$200,000

Cost of goods sold = \$160,000

Operating (other expenses) = \$20,000

What is the total net profit?

\$10,000

\$20,000

\$90,000

\$40,000

30s
• Q7

Revenue = \$80,000

Cost of goods sold = \$30,000

Operating (other expenses) = \$10,000

What is the total net profit?

\$70,000

\$40,000

50,000

\$65,000

30s
• Q8

Revenue = \$200,000

Cost of goods sold = \$160,000

Operating (other expenses) = \$20,000

What is the total gross profit?

\$40,000

\$20,000

\$65,000

\$180,000

30s
• Q9

What will impact the gross profit margin?

Sales price charged remaining the same

Decrease in operating (other) expenses

Increase in operating (other) expenses

Cost of goods sold increase

30s
• Q10

Gross profit is the difference between _____________.

Sales revenue and other expenses

Sales revenue and fixed costs

Sales revenue and cost  of cost of goods sold

Sales revenue and total costs

30s
• Q11

Revenue = \$50,000

Cost of goods sold = \$25,000

Other expenses = \$5,000

What is the total net profit?

\$30,000

\$20,000

\$10,000

\$25,000

30s
• Q12

Revenue = \$100,000

Cost of goods sold = \$50,000

Other expenses = \$40,000

What is the gross profit margin?

50%

85%

10%

35%

30s
• Q13

What is the net profit margin formula?

Net profit /  other expenses x 100

Net profit / Total revenue x 100

Gross profit  / Total revenue x 100

Net profit / Cost of goods sold x 100

30s
• Q14

What is the gross profit margin formula?

Gross profit / Total revenue x 100

Total revenue / Gross profit x 100

Net profit / Total revenue x 100

Cost of goods sold / Total revenue x 100

30s
• Q15

Net profit = \$100,000

Cost of goods sold = \$50,000

Total sales revenue = \$300,000

What is the net profit margin?

33.3%

16.7%

20%

66.6%

30s

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