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WorksheetsGrade 8- Quiz
Total questions: 20
Worksheet time: 40mins
Processing of wages and salaries is carried out by?
marketing
production
finance
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?
Human resources
marketing
production
_____________ are written agreements between an employer and an employee in which each has certain obligations.
forms
application
contracts of employment
The HR department will need to communicate regularly with the finance department to discuss wages and salaries
True
False
Trade unions are organisations, usually in a particular trade or profession that represent workers, especially in meetings with employers.
True
False
___________ are persons or businesses that buy goods from manufacturers and sell them in smaller quantities to retailers.
Retailers
Agents
Wholesalers
__________ is a profit held by a business rather than returning it to the owners and which may be used in the future
Profit
Drawings
Retained profit
________ are resources used or owned by a business such as cash, stock, machinery, tools and equipment.
assets
liabilities
capital
____________ is the finance provided by the owners of a business
loan
capital
bank overdraft
Which of these is a short-term source of finance?
mortgage
share capital
bank overdraft
Which of these sources of finance is internal?
Retained profit
mortgage
venture capital
What helps in buying specific goods like cars with a loan, often provided by a finance house
Mortgage
Loans
Hire Purchase
Which of the following is an example of cash inflow?
wages
cash sales
rent
_____________ are popular because they are convenient, flexible and avoid interest charges if account is settled within the credit period.
loan capital
debentures
credit cards
________ is an agreement with a bank where a business spends more money than it has in its account (up to an agreed limit)
mortgage
bank overdraft
trade payables
Overheads are money spent regularly on ________
Travelling the world for leisure
Rent and electricity to run the business
Splurging on one’s favourite clothes
_____________ is the money taken out of the business by the owner for personal use.
Liabilities
Capital
Drawings
_____________ 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.
Transaction
Profit and loss statement
Cash flow forecast
When a business cannot pay its debts it’s said to be?
Liquid
Insolvent
Overtrading
Which of the following is an example of cash outflow?
Interest received
Payment for raw materials
Fresh injection of capital
