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15 Terms
1
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Revenue
Selling price x quantity sold
2
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Gross profit
Sales revenue + cost of sales
3
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Cost of sales
Opening inventory + purchases - closing inventory
4
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Total cost
Fixed cost + variable cost
5
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Variable cost
Variable cost per unit x quantity produced
6
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Total fixed cost
Sales revenue - total cost
7
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Net profit
Gross profit - operating expenses
8
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Profit margin
(profit/total revenue) x 100
9
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Break even point
Total fixed cost/ selling price per unit - variable cost per unit
10
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Break even revenue
Break even point x selling price per unit
11
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Capital employed
Total assets - current liabilities
12
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Current ratios
Current assets/ current liabilities
13
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Acid test ratio
Current assets - inventory / current liabilities
14
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Mark up
(Gross profit/ cost of goods sold) x 100
15
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Note 
Flashcards (33)