The questions set each week will consist alternately of any one or two of the following components: Entrepreneurship, Economics and Accounting.
ECONOMICS & ACCOUNTING HOMEWORK POSTED ON TUESDAY 12th MAY 2020
>> QUESTION 1 (ECONOMICS)
>> QUESTION 2 (ACCOUNTING)
Answer the question below in your copybook.
State whether each of the transactions below is:
(i) A Cash transaction or Bank transaction or BOTH
(ii) A cash INFLOW or a cash OUTFLOW
NOTE:
INFLOW means that MONEY is getting IN the business ...RECEIPTS
OUTFLOW means that MONEY is getting OUT of the business ...PAYMENTS
A transaction is considered as a CASH transaction when receipts or payments has been done in CASH.
A transaction is considered as a BANK transaction when receipts or payments has been done by CHEQUE.
>> QUESTION 2 (ACCOUNTING)
Answer the question below in your copybook.
State whether each of the transactions below is:
(i) A Cash transaction or Bank transaction or BOTH
(ii) A cash INFLOW or a cash OUTFLOW
NOTE:
INFLOW means that MONEY is getting IN the business ...RECEIPTS
OUTFLOW means that MONEY is getting OUT of the business ...PAYMENTS
A transaction is considered as a CASH transaction when receipts or payments has been done in CASH.
A transaction is considered as a BANK transaction when receipts or payments has been done by CHEQUE.