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Business Mathematics: Concepts and Formulas

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Questions and Answers

What is the main focus of Business Mathematics?

Algebraic equations
Geometry and trigonometry
Calculus and differentiation
Interest rates and tax calculations (correct)

What do business tasks rely on in terms of mathematics?

Pure arithmetic operations
Financial formulas and measurements (correct)
Complex number theory
Statistical hypothesis testing

What does Business Mathematics help to identify in business?

Consumer behavior patterns
Factors related to profit and loss (correct)
The market demand and supply dynamics
Macroeconomic indicators

What is the relationship between Business Mathematics and Statistics?

Statistics provides solutions to business problems (B) Signup and view all the answers

What does Business Math primarily deal with?

Dealing with profit or loss (B) Signup and view all the answers

Which mathematical thinking is required for Business Mathematics?

Mathematical thinking and some Maths formulas (A) Signup and view all the answers

The formula for calculating the net income is:

Net Income = Revenue – Expense (D) Signup and view all the answers

The formula for calculating the Cost of Goods Sold (COGS) is:

COGS = Beginning inventory + Purchase during the period – Ending inventory (B) Signup and view all the answers

The formula for calculating the Break-Even Point is:

Break-Even Point = Fixed cost / (Sales Price per unit – variable cost per unit) (B) Signup and view all the answers

The formula for calculating the Current Ratio is:

Current Ratio = Current Assets / Current Liabilities (A) Signup and view all the answers

The formula for calculating the Profit Margin is:

Profit Margin = (Net Income/ Revenue) × 100 (A) Signup and view all the answers

The formula for calculating the Return on Investment (ROI) is:

ROI = [(Invest gain – Cost of Investment)/ Cost of Investment] × 100 (B) Signup and view all the answers

The formula for calculating the Markup Percentage is:

Markup Percentage = [(Revenue- COGS)/COGS] × 100 (C) Signup and view all the answers

The formula for calculating Inventory Shrinkage is:

(Recorded Inventory – Actual Inventory)/ Recorded Inventory] × 100 (A) Signup and view all the answers

'Profit' is best defined as:

'Profit' is the earned amount received by a business on selling a product. (A) Signup and view all the answers

'Loss' is best defined as:

'Loss' is the amount which is less than the actual price of the product. (C) Signup and view all the answers

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