Y10 Business & Accounting Finance Test

WHAT IS GST?

• Is an indirect income on the supply of goods and services.

• Is an indirect tax levied on the supply of goods and services.

• Is an indirect liability on the supply of goods and services.

HOW MUCH IS GST IN AUSTRALIA?

• 11%

• 10%

• 1.0%

WHAT IS TFN?

• Is your personal reference colour in the tax and super systems.

• Is your personal reference number in the tax and super systems.

• Is your personal reference ringtone in the tax and super systems.

WHAT IS SUPERANNUATION?

• A regular debt made into a fund by an employee towards a future pension.

• A regular payment made into a fund by an employee towards a future pension.

• A regular loan made into a fund by an employee towards a future pension.

WHAT IS ACCOUNTING?

• The process or work of keeping phonebook

• The process or work of keeping financial accounts.

• The process or work of keeping facebook accounts.

WHAT IS INCOME STATEMENT?

• The income statement also called a profit and loss statement is a phone book made by company management that shows the revenue, expenses, and net income or loss for a period.

• The income statement also called a profit and loss statement is a report made by company management that shows the revenue, expenses, and net income or loss for a period.

• The income statement also called a profit and loss statement is a movie by company management that shows the revenue, expenses, and net income or loss for a period.

WHAT IS BALANCE SHEET?

• A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the camping booking over the preceding period.

• A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

• A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the dental booking over the preceding period.

WHAT IS PROFIT?

• A weight loss, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

• A financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

• A weight gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.

WHAT IS BANK STATEMENT?

• A record of facebook account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account.

• A record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account.

• A record of snapchat account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account.

WHAT IS INTEREST RATE?

• The proportion of a clothing that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

• The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

• The proportion of a shoes that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.