EMS Term 1 Revision

What is government?

• people who vote for a party

• people who create and build businesses

• people who govern the country

_____ government deals with issues within a town or municipal area.

Public goods include...

• Healthcare

• Housing

• Tax

• Businesses

______ taxes are paid directly to the government by the person on whom the tax is imposed.

a group of people who produce and grow everything that they need to survive are called....

• developed societies

• rural societies

• self-sufficient societies

When people who don't have jobs are actively looking for work but cannot find any, they are....

• unemployed

• labour

• depleted

What is the name of this source document?

How much did AB Niemand deposit into the bank?

A= OE+L

What does the L stand for?

• Lonely :(

• Loan

• Liabilities

• Lending

Choose the correct answer to show the effect on the accounting equation.

The owner invested R20000 into their business.

• A: +20000

  O: -20000

  L: 0

• A: -20000

  O: 0

  L: +20000

• A: +20000

  O: +20000

  L: 0

• A: -20000

  O: 0

  L: -20000