Economics And Management Sciences Grade 8 June 2010 Addendum

Downloaded from hlayiso.com NAME:_________________________________________ GRADE 8 ECONOMIC MANAGEMENT SCIENCES JULY EXAMINATION 2010 ANSWER SHEET TOPIC LO:AS MARK MARK ACHIEVED AVAILABLE 1 Forms of ownership LO 4 16 2 Entrepreneurship LO 4 20 3 Swot analysis LO 4 14 4 Source documents LO 3 6 5 Cash journals LO 3 32 6 General ledger LO 3 40 7 Accounting concepts LO 3 20 TOTALS 150 Grade 8 Economic Management Science July Examination 2010 Page 1

Downloaded from hlayiso.com QUESTION 1: FORMS OF OWNERSHIP (16 MARKS; 10 MINUTES) Complete the crossword puzzle 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Grade 8 Economic Management Science July Examination 2010 Page 2

Downloaded from hlayiso.com QUESTION 2: ENTREPRENEURSHIP (20 MARKS; 10 MINUTES) 2.1. Entrereneur or Reason Intrapreneur??? a) Richard Branson b) Raymond Ackerman c) Product developer at a business d) Doctor in private practice e) Mrs. Russell Grade 8 Economic Management Science July Examination 2010 Page 3

Downloaded from hlayiso.com 2.2 What qualities do you think an entrepreneur should have? Quality Reason a) b) c) d) e) Grade 8 Economic Management Science July Examination 2010 Page 4

Downloaded from hlayiso.com QUESTION 3 SWOT ANALYSIS (14 MARKS; 10 MINUTES) Strengths Weaknesses • • • • Opportunities Threats • • • QUESTION 4 SOURCE DOCUMENTS (6 MARKS; 5 MINUTES) Complete the table by naming the source document that will be used in each case. Transaction Source document The business sell goods on credit The business pays its expenses Someone pays the business for services rendered The business receives cash from the owner as his capital contribution The business buys goods on credit The business deposits money into the current bank account. Grade 8 Economic Management Science July Examination 2010 Page 5

QUESTION 5 Downloaded from hlayiso.com CASH JOURNALS (32 MARKS; 15 MINUTES) Date Transaction CPJ/ Accounts affected Amount CRJ EXAMPLE Sara contributed R7 000 capital to the CRJ Capital 7 000 business. Receipt no.75 was issued. Bank 1 The businesss paid HG Agencies for the rent of its offices, R2 700. Cheque no 102 was used. 3 The business bought paper and pencils to the value of R250 from Grab ‘n Pay. 4 The business took out a loan from Nedbank for R5 500. The full amount was received on this day. 7 The business received R2 500 from Putfontein Mall for services rendered. Sara’s computer at home broke. She used the 12 business’ money to pay Compufix R500 for repairs to this computer. 14 The business paid Design Centre R1600 for office furniture. 27 The business paid the salaries of its workers with a cheques; R8 000. 28 The business received R15 000 fee income from Putfontein Mall Grade 8 Economic Management Science July Examination 2010 Page 6

Downloaded from hlayiso.com QUESTION 6 GENERAL LEDGER OF AMY PLUMBERS (40 MARKS; 30MINUTES) Balance sheet section Capital Drawings Equipment Vehicle Bank Nominal account section Current income Stationery Wages Rent income Consumable goods Grade 8 Economic Management Science July Examination 2010 Page 7

Downloaded from hlayiso.com QUESTION 7 ACCOUNTING CONCEPTS (20 MARKS; 10 MINUTES) Only write the correct letter next to the corresponding number. Column A Column B Accounting term Definition 1. Current Asset 2. Fixed deposit 3. Income 4. Expenses 5. Capital 6. Drawings 7. Transactions 8. Trading stock 9. Fixed Assets 10. Creditor [10X2] Grade 8 Economic Management Science July Examination 2010 Page 8