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Team 2
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Teams
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Score
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seesaw
Swap points!
Oops!
×
gift
Win 25 points!
Okay!
×
fairy
Take points!
5
10
15
20
25
×
lifesaver
Give 20 points!
Oops!
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thief
Give points!
5
10
15
20
25
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fairy
Take points!
5
10
15
20
25
×
gift
Win 25 points!
Okay!
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lifesaver
Give 25 points!
Oops!
10
×
A mortgage is classed as a what?
Long term liability
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5
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When you rather understate profits rather than over state we call this...
Prudence
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5
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Capital is only considered as money invested in the business? True or False
False
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5
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What is professional ethics?
Professional ethics are principles that govern the behavior of a person or group in a business environment. Like values
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5
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A partnership is easier to form than a company. True or False?
True
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15
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Give 3 examples of an expense
rent , salary expense, insurance etc.
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lifesaver
Give 15 points!
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star
Double points!
Okay!
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gift
Win 20 points!
Okay!
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thief
Give points!
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10
15
20
25
10
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What is revenue?
additional source of income to the organization that may not be apart of its regular trading activity
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5
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What is the difference between a current and non-current asset?
A current asset is only expected to be useful to business for up to 1 year while a non current asset is used for more than a year
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5
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A sole trader has unlimited liability. True or False
True
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10
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Give 2 examples of an Asset
Car, Machine, Equipment
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10
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How do you find Capital?
Assets - Liabilities
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5
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The business entity concept means that the owner and the business are considered ONE ENTITY. Yes or No
No
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5
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Objectivity is where you allow your opinions to affect your decisions. True or False?
False
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×
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