Chapter 18 - Business Finance | Baamboozle - Baamboozle

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heart

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shark

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shark

Other team loses 25 points!

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lifesaver

Give 25 points!

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15

Give ONE example of current expenditure.

Wages / internet / electricity / cleaning supplies.

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15

What principle states finance should match the time period of the need?

The matching principle.

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banana

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fairy

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gift

Win 25 points!

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thief

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thief

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shark

Other team loses 15 points!

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gift

Win 5 points!

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baam

Lose 25 points!

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15

What are accruals (expenses due)?

Expenses that do not need to be paid immediately.

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What is hire purchase?

Paying for an asset in instalments while using it immediately.

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Give ONE example of a short-term source of finance.

Bank overdraft / trade creditors / accruals.

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What are retained earnings?

Profits reinvested back into the business.

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How long are short-term sources of finance repaid within?

Within one year.

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What are the two main types of business expenditure?

Capital expenditure and current expenditure.

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What is trade credit?

Buying goods now and paying later.

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heart

Other team wins 20 points!

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fairy

Take points!

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fairy

Take points!

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thief

Give points!

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How long are medium-term sources repaid within?

1-5 years

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15

What is a grant?

Money given by the government that does not need to be repaid.

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15

What is capital expenditure?

One-off or long-term spending

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