wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

Grade 8- Quiz

Total questions: 20

Worksheet time: 40mins

Name
Class
Date
1.

Processing of wages and salaries is carried out by?

a)

marketing

b)

production

c)

finance

2.

Ensuring that the distribution of products is smooth and the products reach the customers in the right place and at the right time is a role performed by which department?

a)

Human resources

b)

marketing

c)

production

3.

_____________ are written agreements between an employer and an employee in which each has certain obligations.

a)

forms

b)

application

c)

contracts of employment

4.

The HR department will need to communicate regularly with the finance department to discuss wages and salaries

a)

True

b)

False

5.

Trade unions are organisations, usually in a particular trade or profession that represent workers, especially in meetings with employers.

a)

True

b)

False

6.

___________ are persons or businesses that buy goods from manufacturers and sell them in smaller quantities to retailers.

a)

Retailers

b)

Agents

c)

Wholesalers

7.

__________ is a profit held by a business rather than returning it to the owners and which may be used in the future

a)

Profit

b)

Drawings

c)

Retained profit

8.

________ are resources used or owned by a business such as cash, stock, machinery, tools and equipment.

a)

assets

b)

liabilities

c)

capital

9.

____________ is the finance provided by the owners of a business

a)

loan

b)

capital

c)

bank overdraft

10.

Which of these is a short-term source of finance?

a)

mortgage

b)

share capital

c)

bank overdraft

11.

Which of these sources of finance is internal?

a)

Retained profit

b)

mortgage

c)

venture capital

12.

What helps in buying specific goods like cars with a loan, often provided by a finance house

a)

Mortgage

b)

Loans

c)

Hire Purchase

13.

Which of the following is an example of cash inflow?

a)

wages

b)

cash sales

c)

rent

14.

_____________ are popular because they are convenient, flexible and avoid interest charges if account is settled within the credit period.

a)

loan capital

b)

debentures

c)

credit cards

15.

________ is an agreement with a bank where a business spends more money than it has in its account (up to an agreed limit)

a)

mortgage

b)

bank overdraft

c)

trade payables

16.

Overheads are money spent regularly on ________

a)

Travelling the world for leisure

b)

Rent and electricity to run the business

c)

Splurging on one’s favourite clothes

17.

_____________ is the money taken out of the business by the owner for personal use.

a)

Liabilities

b)

Capital

c)

Drawings

18.

_____________ is a prediction of all expected receipts and expenses of a business over a future time period, which shows the expected cash balance at the end of each month.

a)

Transaction

b)

Profit and loss statement

c)

Cash flow forecast

19.

When a business cannot pay its debts it’s said to be?

a)

Liquid

b)

Insolvent

c)

Overtrading

20.

Which of the following is an example of cash outflow?

a)

Interest received

b)

Payment for raw materials

c)

Fresh injection of capital