Question 1
What is the basic accounting equation?
Correct Answer:
Assets = Owner's Equity + Liabilities
Question 2
A business buys equipment for cash. How are the accounts affected?
Correct Answer:
One asset increases and another asset decreases
Question 3
Which document is issued to a debtor when goods are returned to the business?
Correct Answer:
Credit note
Question 4
In which financial statement would you find the net profit of a business?
Correct Answer:
Statement of Comprehensive Income (Income Statement)
Question 5
What is the term for the decrease in value of a non-current asset over its useful life?
Correct Answer:
Depreciation
Question 1
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About this Exam

Prepare with the National Senior Certificate (NSC) — Matric practice quiz. This question bank includes 30 questions covering business, term, word, surface, and profit. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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National Senior Certificate (NSC) — Matric

This practice set contains 30 questions from the matching question bank and focuses on business, term, word, surface, and profit. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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