Operations and Finance (LC 2027) (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
Which best describes fixed costs?
Which best describes fixed costs?
Expenses that stay constant with output
Which is an example of a fixed cost?
Which is an example of a fixed cost?
Rent for premises
How do variable costs behave as production increases?
How do variable costs behave as production increases?
They increase proportionally
Which is an example of a variable cost?
Which is an example of a variable cost?
Raw materials
What is revenue?
What is revenue?
Total money received from trading
Which is an example of single transaction revenue?
Which is an example of single transaction revenue?
A restaurant selling meals to customers
What are recurring sales?
What are recurring sales?
Regular payments for continued access
What is a benefit of recurring sales?
What is a benefit of recurring sales?
Provides predictable income flow
How is profit calculated?
How is profit calculated?
Revenue minus Total Costs
Why do companies have multiple revenue streams?
Why do companies have multiple revenue streams?
To reduce risk and increase income