Items Which Are Regarded as Financial Products Include

question 25

Multiple Choice

Items which are regarded as financial products include:

• A) a security (e.g. a share in a body corporate or a debenture of a body corporate)
• B) health insurance, funeral bonds and reinsurance
• C) exempt public sector superannuation schemes within the meaning of the Superannuation Industry (Supervision) Act 1993
• D) all of the above

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Definitions:

Gross Profit

The financial gain a company achieves after subtracting the cost of goods sold from its total revenue.

Operating Expenses

Expenses incurred in the normal operation of a business, excluding the cost of goods sold.

Net Sales

This is the amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Gross Profit

The difference between revenue and the cost of goods sold before accounting for certain other costs.