Unit 2 Flashcards
1
Q
What is a ‘budget’?
A
Main system of Mathis notation that uses 10 as a base.
2
Q
Financial year
A
10
3
Q
Assets
A
By multiplying an integer between 0 and 9 with a power of 10.
4
Q
Liabilities
A
9 which is 1 less than 10 the base.
5
Q
Interest
A
The power of 10, with every one place from right to left.
6
Q
Liquidity
A
hvj
7
Q
Solvency
A
bkbk
8
Q
Hire purchase (HP)
A
bjb m
9
Q
Value Added Tax (VAT)
A
jbjb
10
Q
Budgeting
A
jgj
11
Q
Household budgets
A
bjk
12
Q
Local, Provincial and National Budgets
A
bjb
13
Q
How does the Government budget?
A
ihi
14
Q
How does the government attend to a deficit?
A
bjb
15
Q
Variances in budget figures
A
bjb
16
Q
Type of bank accounts
A
bkjbk
