
Unit 3 quiz 3
Authored by Eche Egbuonu
Business
10th Grade
Used 5+ times

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6 questions
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1.
CATEGORIZE QUESTION
3 mins • 1 pt
Groups:
(a) Revenue Income
,
(b) Capital income
,
(c) Capital expenditure
,
(d) Revenue Expenditure
Selling Shares
land
interest paid
Cash Sales
stationery
Credit Sales
Owner's Capital
wages
Rent Received
Patents
machinery
Interest received
Rent
vehicles
Loan
2.
CATEGORIZE QUESTION
3 mins • 1 pt
Groups:
(a) Branch
,
(b) Online Banking
,
(c) Postal Banking
,
(d) Telephone Banking
higher risk of fraud and identity theft
increased risk due to cyber crime
post can get lost
24/7 access to account
ability to speak with a live representative
personalized customer service
can be slow
opportunity to build relationhip developing trust and brand loyalty
restricted to bank opening hours
does not require any additional technology or devices
automated telephone systems can be frustrating
requires travel
secure online transactions
3.
CATEGORIZE QUESTION
3 mins • 1 pt
Organize these options into the right categories (sources of finance)
Groups:
(a) Retained Profit
,
(b) Net current assets
,
(c) Venture Capital
,
(d) Loans
Interest is charged on the amount borrowed
can put pressure on customers as shorter credit terms are offered
might be secured against an asset
partial loss of ownership and control
available immediately
no interest charges
conflict can arise between the two parties
no loss of ownership
regular pre-agreed repayments make budgeting easier
advice and mentorship might also be provided
Encourages the business to manage cash flow effectively
4.
CATEGORIZE QUESTION
3 mins • 1 pt
Groups:
(a) Current Asset
,
(b) Non Current Assets
,
(c) Current Liabilities
,
(d) Non Current Liabilities
Buildings
Overdraft
Accruals
Machinery
Trade Payable
Inventory
Land
Patent
Trade Receivable
3 year Loan
Prepayments
Mortgage
Cash
5.
CATEGORIZE QUESTION
3 mins • 1 pt
Groups:
(a) Crowdfunding
,
(b) Debt Factoring
,
(c) Hire Purchase
,
(d) Mortgage
Overall amount paid for asset will be higher than buying outright
Regular instalments make planning easier
Only receive a fraction of the amount owed
Secured against the property
speeds up cash flow into the business from debts
Avoids the need to pay a lump sum for the use of an asset
Large amounts of finance raised and repaid over a prolonged period of time
Can also serve as a marketing opportunity
Another company takes on the risk of bad debt
no guarantee that you will attract sufficient investment
only really suitable for low cost assets
Not suitable for small amounts or a as short term form of finance
6.
CATEGORIZE QUESTION
3 mins • 1 pt
Groups:
(a) Leasing
,
(b) Trade Credit
,
(c) Grants
,
(d) Invoice discounting
Only available if purchases are paid in cash which affects cash flow
business will not receive discounts for prompt payment
Often require a lengthy application process
No need to repay and no interest charges
Reduces costs to the business so increase profit
never own the assets
spreads the cost of an asset over its life, avoid paying a lump sum
Delays need to pay for goods and services, aiding cash flow
responsibility for repair and maintenance stays with supplier
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