Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
EMS Grade 8
Test Description: EMS
Instructions: Answer all questions to get your test result.
1) Who is a Sole Trader
A
Person that starts a Business with his friends
B
A person who starts his own Business usually trading under their own name
C
Person who starts a business for someone else
D
Neither
2) Entrepreneurs often operate as sole traders
A
Neither
B
Maybe
C
False
D
True
3) Informal Sector (Sole trader)
A
All
B
Makes shoes on the side of the road
C
Neither
D
Sell fruit on the side of the road
4) Service Business to the community
A
All
B
Attorney
C
Dentist
D
Doctor
5) Characteristics of Sole Trader
A
Only Owner
B
Can borrow money from the Bank to start business
C
Uses own money as Capital
D
All
6) Characteristics of Sole Trader
A
Legal entity
B
Owner responsible to pay Tax in PERSONAL capacity and not as a BUSINESS
C
All
D
Own is legally responsible for the debt of the company
7) Disadvantages of Sole Trader
A
The liability is unlimited cause they ARE the business
B
Business can continue running until the person dies
C
All
D
Not enough money to start business. All management is the owner's responsiblity
8) Advantages Sole Trader
A
Easy to transfer ownership. Son takes over the business
B
All
C
Gets all the Profits (moola)
D
Owner can make decisions quickly and adapt to change quickly. Build good relationships with customers
9) Ledger account
A
All
B
Right side called - credit side
C
Each debit entry needs a Credit entry
D
Left side called - debit side
10) An account is
A
The place in the books of a company
B
Monetary vales of transactions are entered
C
All
D
This is called ledger account
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?