Accounting

Question 1

Current Assets

Answer 1

Cash at bank
Accounts receivable
Petty cash impress
Inventory

Question 2

Current Liabilities

Answer 2

Bank overdraft
Accounts payable
GST owing

Question 3

Non-current assets

Answer 3

Property, plant, and equipment (land, buildings, machinery, office equipments, shop fittings [Things inside shop], premise)
Intangible assets (Goodwill [Value of the company] , patents)
Investments (Shares in other companies, term deposits)

Question 4

Non current liabilities

Answer 4

Long term loan
Mortgage

Question 5

Distribution cost

Answer 5

Advertising, sale salaries/wages, vehicle expenses, shop electricity, shop rent, delivery expenses, depreciation on shop fittings, vehicles

Question 6

Administrative expenses

Answer 6

Office salaries/wages, rent, insurance, telephone, accountancy fees, depreciation on office equipment/buildings

Question 7

Financial cost

Answer 7

Interest on overdraft, interest on loan, interest on mortgage

Question 8

3 stakeholders

Answer 8

Employees, employer, customer

Question 9

Define marketing mix

Answer 9

The term used to describe the marketing choices of the business

Question 10

What is economic

Answer 10

Sole trader
Private vs public
Disadvantage and advantage of many things like a sole trader
Pricing strategies

Question 11

Define sole trader