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EMS Grade 8
Test Description: EMS
Instructions: Answer all questions to get your test result.
1) Retail Markets
A
All
B
They will resell the goods to their consumers
C
Examples Spar
D
Retailers purchase goods directly from wholesalers
2) Farmers, Flea and Craft markets
A
This provides them with an opportunity to sell their craft
B
All
C
Sold to the local community
D
They are not open everyday
3) Service Market
A
Service, Skill or experience is sold
B
Service can be provide from a shop
C
All
D
Or it can be the PERSON providing the service
4) The Labour Market
A
All
B
The employee and employer get into contract
C
Labour includes both physical and mental work
D
None
5) The Labour Market
A
All
B
Money either wages or salary
C
The employee sells their time, knowledge and experience
D
The employer will pay for this service in the form of
6) Financial Market
A
Help investor make money
B
There are 2 types of financial markets
C
All
D
Any type of transaction that helps a business grow
7) Capital Market
A
The business sells shares to members of the public
B
Obtained to start a business
C
All
D
Money in the form of shares
8) Capital Market
A
All
B
The money received from the public to (purchase the shares)
C
Will be used to purchase assets, pay for labour to operate the business
D
The people are know as shareholders
9) Capital Market
A
Meetings will be held annual
B
All
C
called Annual General Meeting (AGM)
D
Here dividends will be distributed to ShareHolders
10) Money market
A
All
B
Loan can be from a Bank
C
A supplier or overdraft
D
Business can obtain cash or credit
11) Define Loan
A
All
B
Until the total with interest is paid up
C
Taken by the business from the bank
D
Loan paid over a period of time
12) Define Credit
A
Period can be 30,60,90 days
B
Supplier allows business to take goods
C
All
D
Only pay later
13) Define Overdraft
A
All
B
Interest will be paid on amount overdrawn
C
Bank allows business to withdraw more money than they have in their account
D
for the number of days overdrawn
14) Subsidiary journal
A
All transactions must be entered into a journal
B
All money received will be entered into
C
Cash Receipts Journal
D
All
15) Subsidiary journal
A
None
B
All
C
CPJ
D
All money PAID will be recorded in
*select an answer for all questions
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