GRADE 7 BUSSINESS STUDIES 3RD TERM MID TERM TEST 2022/2023

What is another name for sole trade?

• Sole proprietorship

• Partnership

• Organization

• Business

Sole trade consists of how many people?

• Only one

• Only two

• Many people

• Ten people

The most common form of business is

• Partnership

• Sole trade

• Farming

• Hawking

Partnership business was established in

• 1958

• 1967

• 1960

• 1980

A place of business where clerical duties take place is called

• Sitting room

• Office

• Garden

• Shop

Which of the following is a source document?

• Credit note

• Debit note

• Invoice

• All of the above

Which of the following is not a source document?

• Receipt

• Debit note

• Invoice

• Outvoice

...are the record of credit and cash transactions.

• Sources

• Resources

• Source document

• Application

Source documents are used to prepare.....

• Books of account

• Travelling documents

• Buying goods

• Selling goods

A document that acknowledges the payment for goods and services is called

• Diary

• Register

• Receipt

• Jotter