
Grade 7 EMS Quiz
Authored by Victoria Weyulu
Business
7th Grade
Used 3+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the systematic recording of financial transactions of a business in books of accounts?
Accounting
Budgeting
Sales
Marketing
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first thing Peter Pan needs to do if he wants to buy a CD worth R200 but does not have enough money?
Ask for a loan
Buy on credit
Save money
Borrow from a friend
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do we call the money that is left over every month after all expenses have been paid?
Savings
Income
Debt
Capital
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the start-up money for a business called?
Capital
Income
Debt
Savings
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a loan from the bank where the bank allows you to draw money that you have in your account?
Cash float
Overdraft
Capital
Debtor
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the money you spend to buy goods and services provided by someone else called?
Savings
Income
Expense
Debt
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the payment you receive for selling goods and services, providing services or investing your money called?
Savings
Income
Expense
Debt
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