EMS Grade 8 Question Preview (ID: 42608)


EMS. TEACHERS: click here for quick copy question ID numbers.

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

Non current liabilities
a) Can be paid over a number of years
b) example mortage home bond
c) don't have to pay back
d) the first 2

Assets - 2 types
a) Financial Assets
b) Current Assets
c) both
d) Neither

Current Assets
a) Value increases
b) or decreases
c) in 1 year
d) All

Expenses
a) Can be electricity
b) wages, salary
c) water
d) All

Consumables are
a) stationery
b) printers
c) material, fuel
d) All

Cost of Sales
a) Goods sold
b) Goods purchase
c) Goods returned
d) None

Profit
a) The aim of a business is to make a profit
b) Calculate profit is
c) Income is more than expenses
d) All

Drawings
a) Money drawn by the owner for personal use
b) Paintings
c) None
d) All

Common stock
a) It records the portion of contributed capital
b) that relates to common stock
c) issued par value
d) All

Paid Capital
a) Amount that Stakeholders pay for a company stock
b) Is higher than par value
c) the extra amount is recorded
d) All

Owners Equity
a) Owners investment in the company
b) Subtracted from the owner's draws, from the business
c) Plus the Net income
d) All

Define Assests
a) Anything of value that can be converted to cash
b) Owned by individuals,
c) Business or Government
d) All

Real Property
a) Land
b) Any structure that is permanently attached to it
c) Non
d) First 2

Personal Property
a) Anything you own that is not REAL Property
b) Jewerlley
c) Vehicles, household goods
d) All

Investments
a) Retirement funds
b) Life insurance
c) Stock
d) All

An account is prepared in a T
a) Known as T account
b) There are always 2 accounts
c) Debit (Dr) and Credit (Cr)
d) All

Factor Market
a) Place where factors of production
b) Are bought and sold
c) All
d) None

Financial Market
a) Any type of financial transaction that helps the business grow
b) Help investor make money
c) All
d) None

capital Market
a) Money obtained
b) In the form of Shares to start a large business
c) All
d) None

Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 42608 in the upper right hand corner or click here.

TEACHERS / EDUCATORS
Log In | Sign Up / Register

Help / Support / FAQ




Gaming Links