Business
What food item did we use to demonstrate 'competitive advantage'?
Plain chips!!!
What is the accounting equation?
A=L+OE
List one criminal law and one civil
Criminal: murder, assault and sexual offences. Civil: negligence, defamation and contract law.
What does GDP stand for?
Gross Domestic Product
Which AFL team does Miss Ferrito barrack for?
Collingwood (flagpies)
What is one factor to consider when choosing a business location?
Demographics, accessibility, competition, resources or costs
List 3 assets a business might have
Vehicles, equipment, accounts receivable, bank etc.
T/F Indonesia has the death penalty
True
Which one is more severe? Recession or Depression
Depression
How much does a meat pie cost at the MCG today?
$6.20
What are the three types of business ownership?
Sole proprietorship, partnership & private company,
List 2 of the key users of accounting.
Owners or prospective owners, employees, accounts receivables/payables, banks and other lenders or the Australian Taxation Office (ATO)
How many jurors are in the jury?
12 (12 Angry Men)
What is it when the general level of prices paid for goods and services over a certain period of time increases.
Inflation
What is Miss Ferrito's cats name?
Mabel
How many people is a partnership?
How do you work out a businesses profit?
Profit = Revenue – Expenses
Define 'presumption of innocence'.
An accused person is presumed innocent until proven guilty beyond a reasonable doubt by a court of law.
List two types of people who are not included in employment stats.
Children who are under 15 years, Retired people, Full-time students, Discouraged people, Home carers, People who are institutionalised, People in military service
How many books has Miss Ferrito read this year?
28
What are the 5 Ps of Marketing?
Product, Price, Promotion, Place, People
What is the accounting process?
Sources documents -> records -> reports -> provides advice
What is the lowest court in Victoria?
Magistrates court
What does OECD stand for?
Organisation for Economic Cooperation and Development
Which SC teacher was recently on a jury?
Mr Gaut (year 7 coordinator)