Cyril's SWAG Hairdresser

What is the name of the entrepreneur who wanted to open up a hairdressing salon?

• Nelson

• Jacob

• Cyril

• Thabo

Cyril wants to know more about Accounting. Which term would you tell him is at the heart of Accounting?

• Record keeping

• Interpretation

• Communication

• Entrepreneurship

Cyril’s sister told him that “Accounting has to do with all the aspects of a business where money is involved.” Is this true?

• Yes

• No

• Maybe

• Only in China

Cyril wants to know what the accounting name for the money he used to start his business?

• Assets

• Capital

• Liabilities

• Expenses

Cyril thinks that the possession of a fixed asset should last longer than a year. Is this true?

• Yes

• No

• Only in India

• Maybe

Cyril wants you to give him an example of a Current Asset in his hairdressing business?

• Cash

• Car

• Computer

• Tickets to watch Mamelodi Sundowns

If Cyril wanted to borrow money from a registered credit provider where would you advise him to go?

• Mashonisa

• Loan Shark

• Capitec

• Your teacher

Cyril wants to take out a loan for his business and only pay it back in two years. Advise him if this is a long-term or short-term liability?

• It is a long-term liability

• It is a short-term liability

• It is a long term income

• It is a long term expense

Cyril’s Swag hairdresser wants to know what the formula is for profit. Can you help him out?

• Profit = Expenses – Profits

• Profit = Income – Expenses

• Profit = Salary - Expenses

• Profit = Assets + Liabilities

Cyril is projecting that he will make a profit of R7700 per month for the rest of the year. He would like to hire you for R2300 per month and keep aside R2000 per month to invest into the business. How much will he be able to take home himself?

• R4 300

• R3 400

• R2 300

• R3 300