Personal & Business Finance Recap 1

Samuel runs a small business and deals with various financial documents daily. According to him, which document is the most common?

• Invoice

• Balance Sheet

• Profit & Loss Statement

• Contract

Aarav is at a store and wants to buy a gift for Matilda. What is the most secure way for him to pay for the gift?

• Cash

• Credit Card

• Bank Transfer

• Cheque

Oscar is studying the financial health of a company for his business studies project. Which type of document should he refer to?

• Invoice

• Balance Sheet

• Profit & Loss Statement

• Contract

Benjamin wants to send some money to Aarav. Which form of payment can Benjamin use that is easily transferable between their banks?

• Cash

• Credit Card

• Bank Transfer

• Check

Leo and Freya started a small business. They are trying to keep track of all the money coming in and going out of their business. What type of document should they use to record this?

• Invoice

• Balance Sheet

• Profit & Loss Statement

• Contract

Ava, Aarav, and Isabella are planning a trip and they need to pay for their hotel booking. Which form of payment is usually considered the most reliable?

• Cash

• Credit Card

• Bank Transfer

• Cheque

Daniel started a small business and he needs to record a debt owed by his business partner, Rohan. What type of document should he use?

• Invoice

• Balance Sheet

• Profit & Loss Statement

• Contract

Daniel is shopping online for the first time. He is unsure about the payment method to use. Which form of payment is not recommended for him to use when shopping online?

• Cash

• Credit Card

• Bank Transfer

• Check

Sophia and Kiara are starting a small business together. They need to outline the terms and conditions of their partnership in a legally binding agreement. What type of document should they use?

• Invoice

• Balance Sheet

• Profit & Loss Statement

• Contract

Emily went to a local store to buy some groceries. What form of payment could she have used to pay for her goods in person?

• Cash

• Credit Card

• Bank Transfer

• Cheque