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WorksheetsBusiness Test 1C
Total questions: 24
Worksheet time: 40mins
Which of the following is NOT a need?
Food
Clothes
New Iphone
Water
Income that is received every week or month is known as R (a)
Which of the following 3 are regular sources of income?
Wages
Child benefit
Birthday money
Job seekers benefit
BIK stands for what?
Benefit in Kind
Benefit in Kindness
Benefit in Knock
Benefit on Kind
Which 2 are examples of BIK?
Company phone
Your wages
Employer paying health care
Salary
Why should you manage/budget your income? (more than 1 answer)
Save for a rainy day
You do not need to manage income
Preparing for retirement
Spend what you earn each week
Outline one risk associated with not saving some money each week?
There are no risks
You may not have money for an unplanned event
Spend as you earn
Spend on fancy items weekly
Which are types of household expenditure?
Fixed Expenditure
Irregular Expenditure
Regular Expenditure
Discretionary Expenditure
Which 2 are examples of fixed expenditure associated with a household?
Grocery bill
Rent of 500 per month
Petrol
Phone bill of 50 per month
Which 2 are associated with discretionary expenditure?
Birthday present costing €45
Diesel
New i phone
Food
Long term expenditure is also known as what? C (a) Expenditure.
Which are examples of capital expenditure?
New house
News car
New phone
All the above
C (a) expenditure refers to day-to-day spending
Which one is an example of current expenditure
Food
ESB bill
New Van
New washing machine
I go into the shop to buy milk but I end up buying milk and a twix, what do we call the purchase f the twix bar?
Pulse buying
Impulse buying
Quick thinking purchase
Not thinking buy
You buy a twix but could have bought a mars bar, what do we call the mars bar? (a) cost!!!
Number each stage in order -
Retirement stage.
Growth stage.
Independent stage.
Dependent stage.
Maturity stage.
You have 5 minutes to answer
5,3,2,1,4
1,2,3,4,5
5,4,3,2,1
2,3,4,5,1
Who might be in the growth stage?
You
John who is 39
Peter who is 78
Eoin who is 5
Which of the following 3 are direct taxes?
PRSI
USC
DIRT
LPT
Direct taxes are taxes on what? (a)
Which of the following 3 are indirect taxes?
Customs duty
Excise duty
Stamp duty
CAT
If your granny passes away and leaves you €10,000, which type of tax is this known as?
Capital Acquisition Tax
DIRT
CGT
USC
SELECT the odd one out
PAYE
DIRT
Stamp Duty
USC
SELECT the odd one out
CAT
CGT
DIRT
VAT
