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Test Net income
Agenda
QUESTION 1: WHAT IS NET PROFIT?
Total revenues minus production cost
Total revenues less cost, taxes and operating expenses
QUESTION 2: WHAT IS PROFITABILITY?
The relationship between the net profit and the investment made
The relationship between total income and expenses
QUESTION 3: WHICH STATEMENT IS CORRECT?
If the business generates income, it is profitable
The fact that the business generates income does not imply that it is profitable
QUESTION 4: WHICH STATEMENT IS CORRECT?
Lower expenses increase profitability
A decrease in expenses does not imply an increase in profitability
QUESTION 5: IS RAISING THE PRICE OF YOUR PRODUCTS/SERVICES A GOOD STRATEGY TO INCREASE PROFITABILITY?
No, your customers can go to your competitors
Yes, if the product/service is in demand and the timing is right
QUESTION 6: WHICH OF THESE STATEMENTS PERTAINS TO FIXED COSTS?
They do not change with sales, they are always present even if there is no production
They change with sales, and when sales increase, so do expenses
QUESTION 7: ARE COMMISSIONS AND TAXES A FIXED OR VARIABLE EXPENSE?
They are a fixed cost
They are a variable expense
QUESTION 8: WHICH OF THESE ACTIONS CAN YOU UNDERTAKE TO INCREASE PROFITABILITY?
Automate repetitive operations and optimize processes
Strengthen the relationship with suppliers
Create service packages to build customer loyalty
All of the above
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INCORRECT QUESTIONS
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