1|Page
BERGSIG PRIMARY SCHOOL
Subject
Economic Management Sciences
Date
June 2023
Examiner
Mr S Padayachee
Total Marks
100 (50x2)
Moderator
Ms P Rose
Duration of paper
1 hour
INSTRUCTIONS
a. Please read all questions carefully
b. Answer all questions
c. Write neatly
_______________________________________________________________________________________
NAME AND SURNAME:
Question 1
(10)
Match column A with the explanations in column B
Column A
Long term liability
Commission
expenses
surplus
interest
Fixed asset
stock
Operating cost
Cost of sales
Short fall
answer Column B
1. A current asset
2. wages
3. actual cost of selling a product
4. when expenses are more than the income
5. Motor vehicles and equipment
6. Money the bank charges for granting loans
7. When expenses are less than the income
8. Money used to pay rent, wages and electricity.
9. A percentage of a sale
10. Loans payable over a long period of time
2|Page
Question 2
(10)
List 2 types of capital that can be used when starting a business.
Give 2 examples of fixed assets.
List 3 examples of current and long term liabilities.
Current liabilities
Long term liabilities
Question 3
(10)
Explain the meaning of the terms/words below
3.1 Debtor
3.2 Creditor
3.3 Profit
3.3 Break even
3.5 budget
3|Page
Question 4
Choose the correct answer
(5)
4.1…………………………..……………………… are loans which are payable over several years.
4.2 Goods/items that we own are called our …………………………….
4.3 ………………………..……Is the money the business earns.
4.4 Payment of pay wages, rent, water. ………………………………………..
4.5 The money the owner uses to start the business …………………………………….
Assets,
capital,
expenses,
long term liabilities,
income
Question 5
(10)
Use the following information and draw an income and expenditure statement for Paul.
The statement will include all his income and expenses for the month of June.








Paul received R200 pocket money
Paul was paid R30 a week for baby-sitting his sisters son
He bought his friend a birthday present for R70
Paul spent R5 a day at the school tuck shop
On June 16 Paul bought R30 air time and on the 21 June he again bought R25 air time
Paul sold his skate board for R65
Paul went twice to the game centre and he spent R30 each time
Paul bought stationery for R50
Income
total
amount
Expenses
total
amount
4|Page
Calculate the following5.1 Pauls total income for June.
5.2 Pauls total expenses for June.
Question 6
(5)
6.1 List the 5 steps when drawing up a budget
GOOD LUCK