GRADE 09 FINANCIAL LITERACY

1.1 The percentage that represents the portion of profits that is added to the cost price is called the ……….

• profit margin
• cost markup
• selling price increase
• markup percentage

1.2 When a business receives money from a sales transaction, it will be recorded in the ……..

• inventory account
• CRJ

• SALES

• CPJ

1.3 Buhle traders sells her stock at a profit mark-up of 45%. If the cost price of the goods is R500, the selling price of the good will be ………..

• A. 280

• B. 340

• C. 725

• D. 800

1.4 A written proof that an amount of money has been received by the person who signed the receipt ……

• Duplicate Receipt

• Cash Register Roll

• Bank Statement

• Capital

1.5 The amount at which the business sells the goods………..

• sales

• cost price

• selling price

• profit mark up

The goods purchased with the purpose of reselling them at a profit.

A document that serves as a proof that a transaction took place,,,,,

Where you record all the transactions that do not have special columns

The difference between the cost price and the selling price.

Money used to start a business

• owners equity

• deposit

• withdrew

• capital