Page 40 - Business Studies

Business Studies for Secondary Schools

4. Mr Joel’s business earned TShs without planning, managing, or
200,000 from sales while he used controlling its activities. What does
TShs 20,000 to run the business. her business lack?
What was Mr Joel’s profit or loss? (a) Record keeping
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(a) TShs -220,000 (b) Administration
(b) TShs -180,000 (c) Budget
(c) TShs 220,000 (d) Income statement
(d) TShs 180,000
6. Match the items from Group A with
5. Latifa owns a small business that those in Group B by writing the letter
deals with horticulture activities. of a correct option in Group B that
She has been running her business corresponds to an item in Group A

Group A Group B

(i) Making sure one sticks to the budget. A. Budget
(ii) The process of overseeing and coordinating B. Reinvestment

business activities. C. Expenses
(iii) Money earned from selling goods or services. D. Control
(iv) A plan for managing money by keeping E. Administration
records of income and expenses. F. Profit

(v) Money spent on running a business. G. Small business
(vi) A business owned and operated by one or a H. Loss
few people. I. Revenue
(vii) The difference between income and expenses J. Management

when income is more excellent than expenses. K. Staffing
(viii) Using profits to expand or improve a business. L. Organise
(ix) The difference between income and expenses
when expenses exceed income.

(x) The activities involved in running a business,
such as paperwork and record-keeping.

Student’s Book Form Two 34

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Business Studies Form 2.indd 34