Grade 9 EMS Worksheet
Accounting in retail and service businesses
Answer the following questions in your workbook.
a) Explain what a retail business is. Give two examples of a retail
business. [3 marks]
b) Explain what a service business is. Give two examples of a service
business. [3 marks]
c) What is the difference between the earnings and the profit of a
business? [2 marks]
d) Why would you want to compile an income statement for a business?
[2 marks]
[Total: 10 marks]
Accounting in retail and service businesses
Answer the following questions in your workbook.
a) Explain what a retail business is. Give two examples of a retail
business. [3 marks]
b) Explain what a service business is. Give two examples of a service
business. [3 marks]
c) What is the difference between the earnings and the profit of a
business? [2 marks]
d) Why would you want to compile an income statement for a business?
[2 marks]
[Total: 10 marks]
