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- 1. Multiple Choice
Before money was invented, what was the system that people used to trade?
Barter
eBay
Banking
Notes
- 2. Multiple Choice
What is another word for Bartering?
Buying
Producing
Swapping
Selling
- 3. Multiple Choice
What item(s) might people have used to trade with in the past?
Shells
Wheat
Previous metals
All of these
- 4. Multiple Choice
Where was the first paper money invented?
China
Rome
Jerusalem
Brazil
- 5. Multiple Choice
What are two advantages of money (please select two)?
It's easy to carry around
It's nice to look at
Everyone knows its value
It's easy to lose
- 6. Multiple Choice
People would barter with many different items. What was a common disadvantage of these items?
They could be difficult to carry
They could get sick and/or die
They could rot
All of these
- 7. Multiple Choice
Where are UK coins made?
At a factory in Ardrossan
At The Royal Mint
In someone's house
At Buckingham Palace
- 8. Multiple Choice
Shops in England do not have to accept Scottish bank notes, but they usually will to keep their customers happy. What do they then do with these notes?
Burn them
Throw them in the bin
Keep them as souvenirs
Take them to the bank to deposit them or exchange for English notes
- 9. Multiple Choice
When do bank notes officially become money?
When they are printed
When they are "issued" by the Bank
When they are taken from an ATM
When they are signed by the Queen
- 10. Multiple Choice
What is the main colour of a £5 note?
Blue
Green
Red
Brown
- 11. Multiple Choice
Who is the current Governor of the Bank of England?
David Attenborough
Aleksandr Orlov
Fred Goowin
Mark Carney
- 12. Multiple Choice
What is a Cash Budget?
A plan of how much money a business has and how they will spend it
How much a business has in the bank
How much debt a business has
How much cash they have in a collection jar
- 13. Multiple Choice
A Closing Balance is calculate by?
Taking Payments away from the Opening Balance
Adding the Opening Balance plus Receipts then subtracting the Payments
Adding Receipts to the Opening Balance
Subtracting Payments from Receipts
- 14. Multiple Choice
"Receipts" are also known as what?
Opening Balance
Closing Balance
Cash In
Cash Out
- 15. Multiple Choice
"Payments" are also known as what?
Closing Balance
Opening Balance
Cash In
Cash Out
- 16. Multiple Choice
Which of these would be considered a priority payment?
Football ticket
Luxury holiday
Electricity Bill
Satellite TV
- 17. Multiple Choice
If a business is running low on cash, which of these might they be likely to do?
Have a cake sale
Turn off the lights
Arrange an overdraft/loan with a bank
Buy a new TV
- 18. Multiple Choice
If £500 is the closing balance for September, what is the opening balance for October?
£500
£400
£300
£200
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