Finance Unbox-ED ($) - Grade 3-5 - Session 013 - Assessment 3

Select all the statements that are true

• Cash inflow is when you pay money
• Cash inflow is when you receive money
• Cash outflow is when you pay money
• Cash outflow is when you receive money

Select all the statements that are true

• Cash Inflow - Cash Outflow = Net Cash Inflow
• Cash Outflow - Cash Inflow = Net Cash Outflow
• Cash Inflow - Cash Outflow = Net Cash Outflow
• Cash Outflow - Cash Inflow = Net Cash Inflow

Rihana paid $30 for a cake in September and then sold it for $35 cash in the same month. Select all the statements that are true

• Cash inflow is $35
• Cash outflow is $30
• Net cash inflow is $5
• Net cash outflow is $5

Justin paid $20 for a football in June and then sold it for $15 cash in the same month. Select all the statements that are true

• Cash inflow is $15
• Cash outflow is $20
• Net cash inflow is $5
• Net cash outflow is $5

Tom purchased $1,000 worth of cookie dough in May to start a cookie business. He paid $200 for the cookie dough in May and remaining $800 in June. How much was his cash outflow in May?

• NIL
• $1,000
• $200
• $800

Select all the statements that are true

• Assets are things we own and we can use them to earn money or sell them
• Liabilities are things we owe to someone and need to pay back
• Liabilities are things we own and we can use them to earn money or sell them
• Assets are things we owe to someone and need to pay back

Select all the items that are tangible assets

• Patents
• Television
• Laptop
• Brands

Select the statement that is true

• One person's liability is always another person's asset
• One person's asset is always another person's liability

Assets always go up in value

• True
• False

Select all the assets that are expected to go down in value as we use them

• House
• Car
• Laptop
• Gold