SOFT SKILLS KNOWLEDGE - CHAPTER 3

SOFT SKILLS KNOWLEDGE - CHAPTER 3

1st Grade

10 Qs

quiz-placeholder

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SOFT SKILLS KNOWLEDGE - CHAPTER 3

SOFT SKILLS KNOWLEDGE - CHAPTER 3

Assessment

Quiz

Other

1st Grade

Hard

Created by

KENNY DALGLISH

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is Economics?
 A rise in the general level of prices occurs, workers need more money to pay for good clothing and shelter
The branch of knowledge concerned with the production, consumption, and transfer of wealth.
Deals with behavior and decision making by small units, such as individuals and firms
The study of how people try to satisfy what appears to be seemingly unlimited and competing wants through the careful use of relatively scarce resources

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition of Land?
Anything from the earth
The space we occupy
Gifts of nature
All of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition of Entrepreneur?
 A risk taker in search of profits who's initila investment must be returned
A investor in search of profits who does something new with existing resources
 A investor in search of profits who's initial investment must be returned
A risk taker in search of profits who does something new with existing resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is GST?
Goods and Services Tax
Not Goods and Services Tax
Not Indirect Tax
Sources of Profits

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is GST for?
The Value-Added Tax or VAT
is a broad-based consumption tax levied on the import of goods.
 is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer.
nONE OF ABOVE

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the GST work?
ou should report both your output tax and input tax in your GST return.
You must submit your GST return to IRAS one month after the end of each prescribed accounting period. This is usually done on a quarterly basis.
The difference between output tax and input tax is the net GST payable to IRAS or refunded by IRAS.
GST exemptions apply to the provision of most financial services, the sale and lease of residential properties, and the importation and local supply of investment precious metals. 

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is GST a new consumption tax ?
Yes
No
No idea
Not my concern...

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