
quizzunit11
Authored by one leona
Professional Development
1st - 5th Grade
Used 1+ times

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20 questions
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1.
FILL IN THE BLANK QUESTION
1 min • 1 pt
1.A business's assets consist of its cash investments and property (buildings, machines, and so on),
and .................
(debt) - amounts of money owed by customers for goods or services purchased on
credit.
2.
FILL IN THE BLANK QUESTION
1 min • 1 pt
2.
Liabilities consist of all the money that a company will have to pay to someone else, such as
taxes, debts, interest and mortgage payments, as well as money owed to .................
(supply) for
purchases made on credit, which are grouped together on the balance sheet as creditors.
3.
FILL IN THE BLANK QUESTION
1 min • 1 pt
3.
Part of the profit is paid to the government in taxation, part is usually distributed to shareholders
as a dividend, and part is retained by the company to finance further growth, to .................
(pay)
debts, to allow for future losses, and so on.
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
4.
The profit and loss account shows revenue and .................
(expend). It gives figures for total
sales or turnover - the amount of business done by the company during the year -, and for costs and overheads.
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Applications of funds include the purchase of fixed or financial assets, the payment of dividends
and the .................
(pay) of loans, and, in a bad year, trading losses.
6.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Management .................(analysis) the financial statements and use them as a basis for allocating financial resources.
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Small business ................ (own) could keep their own books and make decisions based on the information found there.
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