GRADE 9 EMS 7

exists when a country can produce a good or service at a lower cost than other countries

Creditors decreases on the ...

Drawings decreases on the ...

When posting to the bank account in the GL, which 2 journals do you post from?

a country specializing in production of a good or service that it is relatively more efficient

Which of the following is not an asset?

MNC's sometimes control a country's political power.

Does this go under CPJ or CRJ? Cash received for rent income

A limit on the quantity of products that may be exported or imported during a given period

The difference between a country's total exports and total imports is called the

Return of trading stock entry by debtor:

selling the right to use some intangible property for a fee or royalty

4 accounts involved when a cash sale takes place

The credit side is the left hand side of the general ledger account?

Owners equity negative are also known as:

the cost of using someone else's money

the amount a country owes another country

Which one could you find under Sundry accounts?

Occurs when a country buys more than it sells

Which of the following is NOT a cultural/social factor that affects international business

Name the two sections of the general ledger.

Selling goods on credit leads to the following transaction.

Which account/s below go into the credit side of the sales account?

The difference between a country's total exports and imports is called the balance of ___

Which of the following countries has an absolute advantage in coffee production

Paid the wages and salaries. Which accounts do they fall under, in order?

Name the section in the General Ledger.

Capital increases on the ....

Creditors arise from:

Water and electricity increases on the ....

Domestic business is business that is done across international borders

a free-trade zone is a selected area where products can be imported duty-free & used

Assets increase on the ______ side

Debtors control increases on the DR side. The following journals are posted on the debit side..

Stock Balance c/d : R1000, cost of sales R300. Balance b/d : 200. How much was purchased?

A tax that a government places on certain imported products is called a(n)

If I pay back a creditor the debit and credit will be:

Which one is not a nominal account?

The debit side is which side of the general ledger account?

Occurs when a country sells more than it buys

a limit on the quantity of a product that may be imported or exported

If cost of sales decreased then profit would?

Cost of sales can be found in which 2 journals?

SP = R100 ; CP = 50 ; MU % ?

completely prohibiting the import or export

When posting from the CRJ, the Fee Income account will be .... and the Bank will be .....

Bank decreases on the ...

Creditors Control is DEBITED with which accounts from the CAJ and CPJ.

How many sections does the General Ledger have?

What must add up to the amount in Bank?

I bought Plumber consumables. Which account do they go under?

Actual physical trading stock: R1000 my general ledger indicates R800, what went wrong?

I sell goods for R1000 (cost price R500). How much has my trading stock been credited by?

The key effects on a country's level of economic development are

International business is frequently referred to as world or __ trade

common market memebers

Stationery is ...

Cash received from cash register roll amounted to R4 000. What would you document it as?

Which Journals are posted to the credit side of Trading Stock account?

3 main factors that affect exchange rates are balance of payments, economic conditions, and __

the right to use a company name or business process in a specific way

Goods and services sold to other countries are called

For every debit there is

Bought a taxi for R35 000. Which account does it go under?

On the debit side of the bank account in the GL.....is recorded.

L = A - OE

The difference between the amount of money that comes in and out of a country is called

Rent for the year is R36 000. I paid for the first 4 months, how much did I pay?

value of currency in one country compared with the value in another

Trading stock is ________ when a purchase is made?

On which side would bank increase.

When posting to Wages from the CPJ, what would your contra-account be ....

A nation with a trade surplus is said to have a favorable trade position

What 2 accounts do you get in the General Ledger

Value of currency in 1 country compared to currency value in another is called interest rate

Which of the following are a balance sheet account?

What type of accounts go into the Nominal accounts section of the GL?

When a country has a favorable balance of payments, the currency value is constant or rising

accepted behaviors, customs, and values of a society are referred to as ___

Which step in the accounting cycle does the General Ledger come after?

a tax that a government places on certain imported products

Sold goods for R4000. The mark up price was 100%. How much was it originally?

Debtors control is classified as:

The making, buying, and selling of goods and services withing a country is called ..

Trial Balance

It is possible for the US to have a trade surplus with a country and trade deficit with another

The cost of sales account in the GL is debited with which account from the CRJ and DJ.

A(n) ___ company is an organization that does business in several countries

Where are credit sales recorded?

a trade ___ is a restriction to free trade

a nation's transportation, communication, and utility systems are referred to as its ___

A joint venture is a agreement between 2 or more countries to remove duties and trade barriers

Nominal accounts