1) What is the total value of the goods sold to customers? a) Cost of Sales b) Expenses c) Sales Revenue d) Profit for Year 2) This is the direct cost of the goods that have been sold a) Sales Revenue b) Cost of Sales c) Purchases d) Expenses 3) The goods that have been purchased by the business a) Gross Profit b) Cost of sales c) Purchases d) Expenses 4) The profit made from buying and selling goods a) Profit for the Year b) Expenses c) Opening Balance d) Gross Profit 5) This is all the indirect costs incurred by the business a) Expenses b) Purchases c) Cost of Sales d) Gross Profit 6) The actual profit made by the business after all expenses have been deducted a) Profit for the Year b) Gross Profit c) Sales Revenue d) Expenses

S3 Business - 18 May

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