1) What is the formula to calculate total costs? a) Fixed costs - variable costs b) fixed costs +variable costs c) fixed costs x variable costs d) fixed costs /variable costs 2) which one of these costs is a start-up cost? a) Rent b) Electricity Costs c) Wages d) Advertising 3) George runs a taxi business, which one of these will be a running cost for him? a) Buying the Taxi b) Fuel c) Advertising d) Map 4) Which is the correct formula for Total Costs? a) Fixed costs + variable costs b) Variable costs x fixed costs c) start-up costs + running costs d) Fixed costs - variable costs 5) Which of the following is a fixed cost for a restaurant? a) Ingredients b) Rent 6) Which of these is a variable cost for a restaurant? a) Ingredients b) Rent 7) If a business had fixed costs of £400 per month and variable costs are £100, what are the total costs? a) £300 b) £500 c) £400 d) £40,000

Finance Quiz - Costs

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