Business Costs and Expenses Identification
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Questions and Answers

What is the average number of fashion jeans sold every day in Ms. Nista's online selling business?

  • 8
  • 10
  • 5
  • 6 (correct)

    • What is the mark up price for a t-shirt in Ms. Nista's online selling business?

  • 45.00 (correct)
  • 50.00
  • 90.00
  • 40.00

    • How does Ms. Nista calculate the selling price of her t-shirts?

  • By adding 90 pesos to the cost (correct)
  • By multiplying the cost by 0.50
  • By dividing the cost by 2
  • By squaring the cost

    • What is the cost per piece of a pair of fashion jeans in Ms. Nista's online selling business?

    <p>230 pesos</p> Signup and view all the answers

    What should an entrepreneur consider when projecting revenues?

    <p>Seasonality, economic slowdown, changes in customer preferences</p> Signup and view all the answers

    In the scenario given, how much mark-up does Kyle plan to add to the 10 liter bottled water?

    <p>25%</p> Signup and view all the answers

    What is the corresponding cost for a pair of jeans before adding mark-up price?

    <p>230.00 pesos</p> Signup and view all the answers

    What are costs incurred in the business operation referred to as?

    <p>Operating Expenses</p> Signup and view all the answers

    What is the formula used to calculate Freight-in?

    <p>K = (F/12) x 250</p> Signup and view all the answers

    Which expense is NOT included in the total operating expenses?

    <p>Cost of Goods Sold</p> Signup and view all the answers

    What is the total operating expense of the business as presented in the text?

    <p>$2,399.00</p> Signup and view all the answers

    What does Cost of Goods Sold refer to?

    <p>Amount of merchandise sold by the business for a given period</p> Signup and view all the answers

    What is Merchandise Inventory, beginning?

    <p>Goods at the beginning of operation or accounting period</p> Signup and view all the answers

    What is Freight-in in a merchandising business?

    <p>Cost paid to transport goods from the supplier to the buyer</p> Signup and view all the answers

    How is Cost of Goods Sold computed in a merchandising business?

    <p>Subtracting Merchandise Inventory, beginning from Cost of Goods Available for Sale</p> Signup and view all the answers

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