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) Current liabilities
A
Debt has to be paid
B
Debt can be skipped and not paid
C
Debt must be paid within 1 year
D
None
2) Non current liabilities
A
example mortage home bond
B
don't have to pay back
C
the first 2
D
Can be paid over a number of years
3) Assets - 2 types
A
Neither
B
Current Assets
C
Financial Assets
D
both
4) Current Assets
A
Value increases
B
All
C
in 1 year
D
or decreases
5) Expenses
A
water
B
All
C
wages, salary
D
Can be electricity
6) Consumables are
A
All
B
stationery
C
material, fuel
D
printers
7) Cost of Sales
A
None
B
Goods sold
C
Goods returned
D
Goods purchase
8) Profit
A
Calculate profit is
B
All
C
Income is more than expenses
D
The aim of a business is to make a profit
9) Drawings
A
None
B
Money drawn by the owner for personal use
C
All
D
Paintings
10) Common stock
A
issued par value
B
that relates to common stock
C
It records the portion of contributed capital
D
All
11) Paid Capital
A
All
B
Is higher than par value
C
the extra amount is recorded
D
Amount that Stakeholders pay for a company stock
12) Owners Equity
A
Subtracted from the owner's draws, from the business
B
Plus the Net income
C
Owners investment in the company
D
All
13) Define Assests
A
Owned by individuals,
B
Business or Government
C
Anything of value that can be converted to cash
D
All
14) Real Property
A
Land
B
First 2
C
Non
D
Any structure that is permanently attached to it
15) Personal Property
A
Vehicles, household goods
B
Anything you own that is not REAL Property
C
Jewerlley
D
All
16) Investments
A
Retirement funds
B
Life insurance
C
Stock
D
All
17) An account is prepared in a T
A
Debit (Dr) and Credit (Cr)
B
Known as T account
C
There are always 2 accounts
D
All
18) Factor Market
A
Place where factors of production
B
None
C
All
D
Are bought and sold
19) Financial Market
A
Any type of financial transaction that helps the business grow
B
None
C
All
D
Help investor make money
20) capital Market
A
Money obtained
B
None
C
In the form of Shares to start a large business
D
All
*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?