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Business Studies End of Term Revision Quiz

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

What is an example of a medium of exchange?

a)

money

b)

credit card

c)

cryptocurrency

d)

All of the answers are correct

2.

Amna wants to open a pizza restaurant. What is the benefit of money here?

a)

Buy things we need

b)

Satisfy our wants

c)

start a business

d)

saving for the future

3.

Ali saved his birthday money and Eid money to buy a new mobile phone. What is the function of money here?

a)

Assigning prices

b)

Delaying payment

c)

Medium of exchange

d)

Increasing wealth

4.

Which function of money allows individuals and businesses to buy now and pay later?

a)

Medium of exchange

b)

Increasing wealth

c)

Assigning prices

d)

Delaying payments

5.

Which function of money allows individuals to grow their wealth by saving

or investing their money? ??

a)

Medium of exchange

b)

Increasing wealth

c)

Assigning prices

d)

Delaying payments

6.

Huda is travelling to the UK and wants to buy Great British Pounds. What is the best value?

a)

AED/GBP0.16

b)

AED/GBP0.12

c)

AED/GBP 0.20

d)

AED/GBP 21

7.

What is the currency code for the EURO?

a)

AED

b)

EUR

c)

USD

d)

INR

8.

What is the currency code for the Chinese Yuan?

a)

AED

b)

CNY

c)

SAR

d)

CUP

9.

Meera is going to the USA. She has 6,000 AED to exchange. How many USD will she receive if the exchange rate is 1 USD =2.50

a)

15000 USD

b)

12000 USD

c)

15500 USD

d)

15550 USD

10.

Shein Online shops want to open two (2) shops to expand their business. Recommend an appropriate financial product.

a)

overdraft

b)

bank loan

c)

sukuk

d)

car loan

11.

Which is the best month to buy US dollars?

a)

January

b)

July

c)

November

d)

October

12.

Which of the answers is an internal source of finance? Choose two (2) correct answers.

a)

Bank loan

b)

Retained profits

c)

overdraft

d)

sale of fixed assets

13.

Money that is required for more than a year is know as_________

a)

short term finance

b)

long term finance

c)

medium term finance

14.

Hanan has a flower shop and wants to buy a new car for deliveries. Recommend an appropriate financial product.

a)

car loan

b)

credit card

c)

mortgage

d)

bartering

15.

Which source of finance is a mortgage?

a)

Internal

b)

External

16.

Choose all the sources of finance that are internal

a)

Overdraft

b)

bank loan

c)

owner's savings

d)

Use of working capital

17.

A plan of future income and spending is known as ________

a)

budget

b)

actual budget

c)

credit card

d)

saving

18.

Which of the answers is a benefit of budgeting? Choose three (3) correct answers.

a)

It can help people control their money

b)

It can help to identify opportunities

c)

It helps people to plan for emergencies

d)

It makes you spend more money

19.

Look at the budget for Mouza's Abaya Shop. What is the actual total income?

a)

125,000 AED

b)

120,000AED

c)

122,000AED

d)

115,000AED