Unit 2 Flashcards
What is a ‘budget’?
Main system of Mathis notation that uses 10 as a base.
Financial year
10
Assets
By multiplying an integer between 0 and 9 with a power of 10.
Liabilities
9 which is 1 less than 10 the base.
Interest
The power of 10, with every one place from right to left.
Liquidity
hvj
Solvency
bkbk
Hire purchase (HP)
bjb m
Value Added Tax (VAT)
jbjb
Budgeting
jgj
Household budgets
bjk
Local, Provincial and National Budgets
bjb
How does the Government budget?
ihi
How does the government attend to a deficit?
bjb
Variances in budget figures
bjb
Type of bank accounts
bkjbk
Service fees charged by the bank
kbk
A variety of charges that a bank could levy on the services rendered to clients.
bjvj
Financial statements
hvj
Balance Sheet
jhk
Depreciation
jbj
Share Capital
bk
Income maintained
kbk
Understanding the Income Statement
hkj
Interest
bhjv
Nominal Rate
nkn
Characteristics of a stokvel.
bjbk
Commission
hikb
Appreciation
vjvj
Depreciation.
bkb
Simple Interest and its calculation
bk
Compound Interest and its calculation
bjb
Taxation
bkb
Personal Income tax
bkn
Company tax
bjbj
Capital gains tax(CGT)
bkb
Value added tax(VAT)
vjj
Estate tax
jvj
Excise duty
bbj
Productivity
ujbj
Equitable distribution of resources
bjbj
