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WorksheetsBusiness Studies Week 2
Total questions: 10
Worksheet time: 10mins
Anything that serves as a generally acceptable means of exchange is called
Easy to carry
Money
Barter
Portability
Choose 3 functions of money from the list
Durability
A medium of exchange
Standard of deferred payments
Store of value
Choose 3 characteristics of money
Divisibility
Portability
Durability
Unit of account
Name 4 instruments of exchange
A drawer is someone
Who is responsible for following the drawers instruction to transfer funds to the employee
Who makes out a bill of exchange such as a check ordering payment of funds
Tele-banking is:
Transfer of funds
Buying and selling of goods electronically via the internet
Making banking transaction usine a banking network
Serves as a means of exchange
Name 2 types of payment instrument you use regularly to make purchases
A credit transfer means
Paying money into your account
Making a payment from your account
Sends funds from one bank to another
Bond investments from the government
Which electronic payment in which funds are transferred directly and immediately from the user's account to the person they are paying?
Money order
Credit card
Debit Card
Bank Draft
Name 3 main channels used as a means of delivering money and payments through the banking system
