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Question 1

These are properties resources possessions or goods that an organization owns

Answer 1

Assets

Question 2

This entails an organization’s legal and financial responsibility and obligation

Answer 2

Liabilities

Question 3

It shows whether you are spending too much or too little

Answer 3

Balance sheet

Question 4

Also known as a profit and loss statement that shows an organization’s operational earnings and expenses

Answer 4

Income Statement

Question 5

This can be in the form of treasury bills notes and bonds. These are government issued and are solved by the government to raise funds.

Answer 5

Securities

Question 6

An ownership in a company. Are paid out through dividends when the company is profitable

Answer 6

Stocks

Question 7

Another alternative means of earning.

Answer 7

Insurance

Question 8

Bank provides a means to save our money and grow it

Answer 8

Deposits

Question 9

A means to transfer funds from one person to another

Answer 9

Remittance

Question 10

Pertains to the good products or services that an organization produces

Answer 10

Supply

Question 11

Supply affected by:

Answer 11

Ability to produce the product goods or services
Cost of production
Competition in the market
Availability of materials

Question 12

It is need by the customers for goods products and services

Answer 12

Demand

Question 13

Demand affected by

Answer 13

Quality of a product
Cost of the product
Ability of substitutes for the product
Price of complementary