Multiple choice questions #EMS

If a business’ expenses are more than its income...

• Profit

• Loss

• Surplus

• Savings

Money received by leasing out a part of the business building

• Current income

• Rent income

• Sales

• Profit

An example of a retail business.

• Cafê

• Plumber

• Doctor

• Teacher

The value of the business is known as…

• Drawings

• Assets

• Capital

• Owner's equity

Which one is not a current asset?

• Cash float

• Trading stock

• Creditors

• Petty cash

An example of a fixed asset...

• Bank

• Building

• Debtors

• Investment policy

A … is dependent on the number of hours worked

• Bonuses

• Commission

• Salary

• Wage

Describes the financial situation of a person or business, at a particular time...

• A. Statement of net worth

• B. Income and Expenditure statement

• C. Balance sheet

• D= A & C are correct

The owner’s salary that is paid by the business is referred as...

• Fixed deposit

• Drawings

• Salary

• Capital

Which one of the following is not an operating expense for a business?

• Packaging

• Vehicles

• Interest paid on bond

• Telephone