Can someone help me to answer this section of my accounting quiz please. Time is running out and I don't know the answers :( Help me!

SECTION B

TRUE OR FALSE

QU6. Balance Sheets show the Flow of Assets and Liabilities between one accounting period and another. True False

QU7. Saving is the balancing Item of the Capital Account. True False

QU8. In addition to the balancing item brought across from the Primary Distribution of Income Account, the Secondary Distribution of Income Account records the same types of social transfers on the Resources side as the Uses side. True False

QU9 When Balance Sheets are being prepared, Assets and Liabilities are recorded at the current values, not at their original values. True False

QU10 Net Borrowing occurs when Changes in Net Worth due to Saving and Capital Transfers exceed the investment in Non-Financial Assets. True False

SECTION C FILL IN THE BLANKS WITH THE APPROPRIATE ALPHANUMERIC ANSWER [e.g. 1a or 3b ]

QU11 In the Capital Account the balancing Item is called _(1)___________________________

It measures the net amount a unit or sector has to finance (2)_____________________________

1a Changes in Net Worth due to saving and capital transfers;

1b Net Lending /Net Borrowing

2a Transactions in Financial Instruments

2b Net Borrowing when negative

QU12 (1) The _____________________ covers redistribution of income through current transfers other than social transfers in kind.

Social Transfers in kind are recorded in the (2) _________________________.

1a Use of Disposable Income Account

1b Allocation of Primary Income Account

1c Secondary Distribution of Income Account

2a Use of Disposable Income Account

2b Redistribution of Income in Kind Account

2c Financial Account

QU13 (1) _____________________ is an activity in which institutional units use up goods and services. Values assigned to the outputs must also be assigned to the (2) _________________________.

1a Market Production

1b Consumption

1c Output at Basic Prices

2a Production of goods and services for own use.

2b Transactions

2c Consumption of the output

QU14 (1) Output is obtained by aggregating the amounts sold, bartered or transferred to other institutional units, plus ____________________.

The current accounts record the production of goods and services, the use of incomes for purposes of consumption and saving as well as (2) _________________________.

1a Use of Disposable Income Account

1b Allocation of Primary Income Account

1c Secondary Distribution of Income Account

2a Current Transfers

2b Redistribution of Incomes among Institutional Units

QU15 (1) When saving is negative, th excess of consumption over disposable income must be financed by _____________________. Economic Production is an activity that is (2) _________________________.

1a Acquiring more assets

1b Incurring Liabilities

1c Reducing capital transfers

2a carried out under the control of an institutional unit

2b the value resulting from gross output less intermediate costs.

SECTION D

Select from the List in bold print, the Institutional Sector to which the following Institutional Units may be classified.

LIST - Corporation, General Government, Households and Unincorporated Enterprises, Non-Profit Institutions serving Households, , Non-Profit Institutions serving Businesses, Quasi Corporation, Public Corporation, Resident Unit.

QU16 An institutional unit that produces non-market services for collective consumption and is also involved in the redistribution of income and wealth.

Answer _____________________________

QU17 A legal entity producing non-market services for businesses using resources obtained from contributions and subscriptions.

Answer ______________________________

QU18 An enterprise whose principal activity is the production of market goods and non-financial services with the intention of making a profit for its owners

Answer ______________________________

QU19 A Corporation that produces goods and services for sale on the market at economically significant prices, where government exercises control over corporate policy. .

Answer ______________________________

QU20 An unincorporated enterprise owned by a non-resident institutional unit that has significant production in the resident economy.

Answer ______________________________

END OF QUIZ