wayground logo

Free Printable Worksheets

NEW

Font size

S
M
L
XL
Worksheets

EMS Revision

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

Possessions owned by the business is called

a)

Assets

b)

liability

2.

The share of the what you have invested in the business, is called ____

a)

expenses

b)

owner's equity

3.

The money or assets which the owner invest in the business, is called ___

a)

capital

b)

liabilities

4.

VAT is charged at ____ percentage.

a)

14

b)

15

5.

Government gets its income from tax, as well as _____, ____, fines and government services such as issuing passport, ID, etc.

a)

loans, donations, renting out property, selling land

b)

charity, fun

6.

The _____ government is responsible for taking care of the entire country.

a)

local

b)

national

7.

___ government is responsible for taking care of community parks, community street lights, potholes, etc.

a)

Local

b)

National

8.

Wages, water and electricity, rent, etc. are all the ____ of a business.

a)

income

b)

expenses

9.

_____ tax is paid on goods and services through VAT, SIN tax, is charged on goods and services.

a)

Direct

b)

Indirect

10.

___ is paid on salary and wages and on the profits of a business.

a)

Direct

b)

Indirect

11.

___ development refers to the opening of businesses such as factories, new malls and business offices.

a)

Industrial

b)

Entertainment

12.

Barber shops, hair salons, plumbers, electricians, etc. are called ____ businesses.

a)

service

b)

retail

13.

Pick n Pay, Spar, Shoprite, Clicks, etc. is referred to as ___ businesses.

a)

service

b)

trading

14.

Businesses can help the natural environment by ___

a)

recycle material, re-using material, and reducing air pollution, etc.

b)

over-using resources, dumping waste into rivers, etc.

15.

The abbreviation VAT stands for ____

a)

Value Added Terms

b)

Value Added Tax

16.

President Ramaphosa is responsible for managing the ____government.

a)

provincial

b)

national

17.

The premier is responsible for the managing of the ___ government.

a)

national

b)

provincial

18.

When the income in the national budget is less than the expenditure, there is a ___

a)

surplus.

b)

deficit.

19.

When the Revenue (income) in the national budget is MORE than the expenditure, it is a ____

a)

surplus.

b)

deficit.

20.

The formula to calculate a business' profit is: Income minus Expenses.

a)

True

b)

False