Font size
Worksheetsunit 3 quiz 5
Total questions: 20
Worksheet time: 25mins
The (a) steps in as a last resort when a consumer and a financial institution cannot resolve a dispute
Prepayments
Cash
Trade Receivable
Machinery
Patents
Overdraft
Trade Payable
Accrual
3 year Loan
Mortgage
Inventory
Vehicles
Loan
Shares
Owners Capital
cash sales
credit sales
rent received
interest received
machinery
vehicles
inventory
rent
wages
Premises
on a statement of financial position, an accrual will (a) the value of our (b)
and a prepayment will increase the value of our (c)
(a) ratios allow you to measure the ability of a business to pay back it's short term debts. there are two ratios, one of which is the (b)
when making an adjustment to a statement of comprehensive income we need to (a) the value of (b) and (c) the value of (d)
A (a) tells you whether the business has made a profit or not. The (b) predicts inflows and outflows. The (c) lets you know how much the business is worth at a given point in time.
Organize these sources of finance into the right categories
Loan
Peer to peer lending
Grants
Donations
Venture Capitalist
Owner's Capital
Reorder the following to correctly identify the four functions of money
Unit of
account, Store of
Value, Means of
Exchange, legal
Tender
Reasons for planning expenditure.
to remain (a) , to (b) debt, bankruptcy and (c) . To maintain a good (d)
What way to pay is being described?
1) takes three days to transfer payment
2) no fee
3) With Faster Payments - transfers takes place within two hours
CHAPS
BACS
Standing Order
Direct Debit
What way to pay is being described?
1) Similar to a credit card but only accepted by a store that issues it
2) Interest payable on balance unless paid off in full each month
3) risk of cardholder overspending and getting into debt
Store Card
Credit Card
Prepaid Card
Debit Card
What way to pay is being described?
1) widely accepted by retailers
2) Cannot spend more than the amount of cash on card
3) if lost or stolen, the cash on the card is lost
Prepaid Card
Debit Card
Cash
Charge Card
Store Card
What way to pay is being described?
1) widely accepted
2) can be stolen or counterfeited
3) cannot be used for online purchases
Standing order
cash
charge card
direct debit
What way to pay is being described?
1) an instruction to a bank from an account holder to make regular set payments to a person or organisation
2) payments do not change, allowing the payer to plan their expenditure
3) payments are made automatically and continue until cancelled by the payer
Direct Debit
Standing Order
Cheque
Credit Card
(a) ratios enable a business to measure how efficiently it manages its finances and uses its inventory.
What way to pay is being described?
1) Can be used to make purchases online and in stores
2) Money is deducted directly from your current account
3) If the card is lost or stolen, you're protected against unauthorized transactions
Debit Card
Cash
Prepaid Card
Store Card
What way to pay is being described?
1) Allows you to borrow money up to a certain limit
2) Interest is charged on the balance if not paid in full each month
3) Can be used for online purchases, in stores, and to withdraw cash from ATMs
Credit Card
Debit Card
Prepaid Card
Cheque
What way to pay is being described?
1) A written order instructing a bank to pay a specific amount from the payer's account to a named person or company
2) Can be used for large amounts
3) If lost or stolen, can be stopped before it's cashed
Cheque
Direct Debit
Standing Order
Credit Card
Which financial institution is being described here?
1) owned by their members
2) provide financial services e.g. savings accounts, mortgages
3) can offer better interest rates and savings than banks
4) fewer branches leading to poorer access
Building Societies
Pawnbrokers
Bank of England
Banks
