Functions and Role of Money

Front

Money that is left over once all of your bills and outgoings have been paid is called disposable income

Back

True

Front

It allows us to place a monetary value on goods and services

Back

Unit of Account

Front

It allows us to trade

Back

Means of exchange

Front

A unit of account allows us to place a .................... value on goods and ................

Back

monetary/services

Front

Legal Tender is a legally recognised form of payment

Back

True

Front

Something that a business owns or is owed

Back

Asset

Front

Which of these is not true of bankruptcy? Effects ability to achieve future credit, Loss of all assets, Can lead to a damaged reputation, Can still become a director of a company

Back

Can still become a director of a company

Front

What is your credit rating based on? Options: History, Earnings, Other debt, All of these

Back

All of these

Front

When you have enough assets to cover your liabilities you are .....

Back

Solvent

Front

Which of these would not be an asset? Car, Van, Overdraft, Debts owed to you

Back

Overdraft