EMS Grade 8 Question Preview (ID: 42606)

a) Retailers purchase goods directly from wholesalers

b) They will resell the goods to their consumers

c) Examples Spar

d) All

a) They are not open everyday

b) This provides them with an opportunity to sell their craft

c) Sold to the local community

d) All

a) Service, Skill or experience is sold

b) Service can be provide from a shop

c) Or it can be the PERSON providing the service

d) All

a) The employee and employer get into contract

b) Labour includes both physical and mental work

c) All

d) None

a) The employee sells their time, knowledge and experience

b) The employer will pay for this service in the form of

c) Money either wages or salary

d) All

a) Any type of transaction that helps a business grow

b) Help investor make money

c) There are 2 types of financial markets

d) All

a) Money in the form of shares

b) Obtained to start a business

c) The business sells shares to members of the public

d) All

a) The people are know as shareholders

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) All

a) Meetings will be held annual

b) called Annual General Meeting (AGM)

c) Here dividends will be distributed to ShareHolders

d) All

a) Business can obtain cash or credit

b) Loan can be from a Bank

c) A supplier or overdraft

d) All

a) Taken by the business from the bank

b) Loan paid over a period of time

c) Until the total with interest is paid up

d) All

a) Supplier allows business to take goods

b) Only pay later

c) Period can be 30,60,90 days

d) All

a) Bank allows business to withdraw more money than they have in their account

b) Interest will be paid on amount overdrawn

c) for the number of days overdrawn

d) All

a) All transactions must be entered into a journal

b) All money received will be entered into

c) Cash Receipts Journal

d) All

a) All money PAID will be recorded in

b) CPJ

c) All

d) None