Chloe Costello
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Year 10 Economics and Business Quiz on Term 2 Business Exam, created by Chloe Costello on 18/06/2018.

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Chloe Costello
Created by Chloe Costello over 6 years ago
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Term 2 Business Exam

Question 1 of 8

1

An item of value owned by a business which lasts for years.

Select one of the following:

  • Liability

  • Expense

  • Asset

Explanation

Question 2 of 8

1

An amount owed to another firm/business.

Select one of the following:

  • Asset

  • Sale

  • Liability

  • Expense

Explanation

Question 3 of 8

1

The value of the business to the owner.

Select one of the following:

  • Owner's Equity

  • Capital

  • Income

Explanation

Question 4 of 8

1

Costs from a business which must be bought over and over.

Select one of the following:

  • Capital

  • Bank Overdraft

  • Expenses

  • Mortage

Explanation

Question 5 of 8

1

Income received by a business.

Select one of the following:

  • Revenue

  • Sales

  • Stock

Explanation

Question 6 of 8

1

The amount the owner has invested in the business.

Select one of the following:

  • Owner's Equity

  • Expense

  • Drawings

  • Capital

Explanation

Question 7 of 8

1

A firm/individual who owes the business money.

Select one of the following:

  • Accounts Recievable

  • Accounts Payable

Explanation

Question 8 of 8

1

A firm/individual to whom owes the business money.

Select one of the following:

  • Accounts Receivable

  • Accounts Payable

Explanation

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