Financial Documents & Tariff Systems is one of 9 topics in the Grade 10 Mathematical Literacy CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. On a bank statement, what is the "closing balance"?
The balance in the account at the end of the statement period
The balance in the account at the start of the statement period
The total of all deposits only, ignoring withdrawals
The bank's total assets, not the individual account balance
Answer: The balance in the account at the end of the statement period — The closing balance is the account balance at the end of the statement period, after all listed transactions (debits and credits) have been applied.
Easy
2. On a till slip, what is the term for the sum of all item prices before any final adjustments, shown just before the final total?
Answer: subtotal — The subtotal is the sum of all listed item prices on a till slip, shown before the final total.
Medium
3. A bank statement shows an opening balance of R1,200, then a debit (withdrawal) of R350, then a credit (deposit) of R500. What is the closing balance, in Rand?
