QR Challenge: Finance Review
Teacher Notes
A. Prior to the lesson:
1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.
2. If their phone camera doesn't automatically detect and decode QR codes, ask students to
- Download a QR reader (e.g. I-Nigma | NeoReader | Kaywa) onto their mobile devices
- Bring these devices into the lesson.
3. Print out the QR codes.
4. Cut them out and place them around your class / school.
B. The lesson:
1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.
2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.
3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!
C. TIPS / OTHER IDEAS
4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.
Questions / Answers (teacher reference)
Question | Answer |
| 1. This is the main source of finance for limited companies | share capital
|
2. What is the Gross Profit if Sales are: 10,000 and COGS are 3,000 | 7000
| 3. What is the main source of finance for sole traders? | personal funds
| 4. What is the break-even formula? | TR=TC or TFC/Unit Contribution
| 5. Wages are what type of cost? | Variable
| 6. What costs are salaries? | Fixed
| 7. A portion of the profits that are given to shareholders are known as? | Dividends
| 8. P=$5, AVC=$2 & TFC = $6000, what is the BEQ? | 2000 units
| 9. If actual demand is 4000 units and BEQ is 1000, what is the margin of safety? | 3000 units
| 10. This financial document shows the assets and liabilities of a business at a given time. | Balance sheet
| 11. This financial account includes Turnover, COGS and Expenses. | Profit and loss account
| 12. Turnover is also known as... | Sales revenue
| 13. TR - TC = ? | Profit
| 14. Working capital is calculated by:? | Current Assets - Current Liabilities
| 15. Which document(s) does the acid test figures come from? | Balance sheet
| 16. Which document(s) does the ROCE figures come from? | P&L & Balance sheet
| 17. Trade credit is a strategy to improve which ratio(s)? | Liquidity ratios
| 18. What are assets that are non-physical and fixed called? | Intangible assets
| 19. Patents and copyrights are categorized as what type of asset? | Intangible or fixed assets
| 20. HL ONLY - Depreciation is expressed on the P&L under which category? | Expenses
| 21. This ratio indicates how well a business generates profit from its money invested in the business. | ROCE |
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=This_is_the_main_source_of_finance_for_limited_companies
Question 1 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=What_is_the_Gross_Profit_if_Sales_are:_10,000_and_COGS_are_3,000
Question 2 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=What_is_the_main_source_of_finance_for_sole_traders?
Question 3 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=What_is_the_break-even_formula?
Question 4 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=Wages_are_what_type_of_cost?
Question 5 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=What_costs_are_salaries?
Question 6 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=A_portion_of_the_profits_that_are_given_to_shareholders_are_known_as?
Question 7 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=P=$5,_AVC=$2_&_TFC_=_$6000,_what_is_the_BEQ?
Question 8 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=If_actual_demand_is_4000_units_and_BEQ_is_1000,_what_is_the_margin_of_safety?
Question 9 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=This_financial_document_shows_the_assets_and_liabilities_of_a_business_at_a_given_time.
Question 10 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=This_financial_account_includes_Turnover,_COGS_and_Expenses.
Question 11 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=Turnover_is_also_known_as...
Question 12 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=TR_-_TC_=_?
Question 13 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=Working_capital_is_calculated_by:?
Question 14 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=Which_document(s)_does_the_acid_test_figures_come_from?
Question 15 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=Which_document(s)_does_the_ROCE_figures_come_from?
Question 16 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=Trade_credit_is_a_strategy_to_improve_which_ratio(s)?
Question 17 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=What_are_assets_that_are_non-physical_and_fixed_called?
Question 18 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=Patents_and_copyrights_are_categorized_as_what_type_of_asset?
Question 19 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=HL_ONLY_-_Depreciation_is_expressed_on_the_P&L_under_which_category?
Question 20 (of 21)
Finance Review: QR Challenge
https://www.classtools.net/QR/decode.php?text=This_ratio_indicates_how_well_a_business_generates_profit_from_its_money_invested_in_the_business.
Question 21 (of 21)
