EMS Grade 7

Which of the following fall under current assets

• Cash

• bank overdraft

• buildings

• motor-vehicles

• Debtors

When the business expenses are more than its income.

• expenses

• Loss

• income

• revenue

A plan that ensures income is spent wisely.

• Plan

• budget

• diary

• schedule

The act of buying or selling.

• marketing

• transaction

• business

• dealing

Money kept aside for future use.

• Budget

• investment

• savings

• bank

Items owed by the business.

• LIABILITIES

• Assets

• Revenue

• expenses

items owned by the business

• liabilities

• property

• assets

• resources

Money received by a business for services rendered or sale of goods.

• benefits

• income

• fees

• profit

Money invested into the business by the owner

• loans

• Debts

• assets

• capital

Your gardener receives Ksh 9 880 per week for working in the garden every Saturday

• Salary

• interest

• wages

• commission