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EMS Grade 8

Test Description: EMS

Instructions: Answer all questions to get your test result.

1) Retail Markets

AExamples Spar BAll CRetailers purchase goods directly from wholesalers DThey will resell the goods to their consumers

2) Farmers, Flea and Craft markets

AThis provides them with an opportunity to sell their craft BThey are not open everyday CAll DSold to the local community

3) Service Market

AOr it can be the PERSON providing the service BService, Skill or experience is sold CService can be provide from a shop DAll

4) The Labour Market

AThe employee and employer get into contract BAll CNone DLabour includes both physical and mental work

5) The Labour Market

AAll BThe employer will pay for this service in the form of CMoney either wages or salary DThe employee sells their time, knowledge and experience

6) Financial Market

AHelp investor make money BAny type of transaction that helps a business grow CAll DThere are 2 types of financial markets

7) Capital Market

AThe business sells shares to members of the public BObtained to start a business CMoney in the form of shares DAll

8) Capital Market

AWill be used to purchase assets, pay for labour to operate the business BThe money received from the public to (purchase the shares) CAll DThe people are know as shareholders

9) Capital Market

AMeetings will be held annual BAll CHere dividends will be distributed to ShareHolders Dcalled Annual General Meeting (AGM)

10) Money market

AAll BLoan can be from a Bank CBusiness can obtain cash or credit DA supplier or overdraft

11) Define Loan

AUntil the total with interest is paid up BLoan paid over a period of time CTaken by the business from the bank DAll

12) Define Credit

APeriod can be 30,60,90 days BAll COnly pay later DSupplier allows business to take goods

13) Define Overdraft

AInterest will be paid on amount overdrawn BAll Cfor the number of days overdrawn DBank allows business to withdraw more money than they have in their account

14) Subsidiary journal

AAll BAll transactions must be entered into a journal CCash Receipts Journal DAll money received will be entered into

15) Subsidiary journal

AAll BAll money PAID will be recorded in CNone DCPJ

*select an answer for all questions

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