Assessment guidelines • This activity is intended for formal assessment.
Activity 3 Present a personal statement of net worth Learner’s Book page 60
Guidelines to implement this activity
• This is an individual activity. • Classify each item under the headings ‘fixed asset’, ‘current asset’, ‘non-current liability’ and ‘current liability’.
• Add up the value of all the assets. • Add up the value of all the liabilities. • Subtract total liabilities from total assets to calculate the relative’s net worth and how much you have inherited (the wealth you have gained).
Background knowledge The learners need to differentiate between assets and liabilities.
Suggested answers ASSETS
Fixed assets
Land and buildings Vehicles
Equipment (180 000ü + 85 000ü)
Fixed deposit / Money market / Notice deposit (Savings) Current assets
Debtor (loan to sister)
TOTAL ASSETSü LIABILITIES
Non-current liability Current liabilities
Creditor (store account) Bank overdraft
TOTAL LIABILITIESü NET WORTHüü
Assessment guidelines
• This activity is intended for informal assessment. • Use the suggested answers supplied above to assess learners informally. Allocate learners a mark out of 20 and give them feedback on their performance to prepare them for formal assessment.
52 Term 2: Financial literacy
9780199052050_OS_Economics_7_TG_CAPS2017.indb 52 11/29/17 9:02 AM
14 600ü 30 000ü
144 600ü 1 063 400ü Total: 20 marks 8 000ü 1 208 000ü
100 000ü 44 600ü
650 000ü 240 000ü 265 000ü
45 000ü 8 000ü
1 155 000ü
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51
