Commerce

The difference between the total amount of money received by a country and the total amount paid to other countries within a given period is the?

A. trade gap B. balance of trade C. balance of payments D. current account balance E. terms of trade Correct…

6 years ago

Which of the following is not the duty of an entrepreneur?

A. provision of initial capital B. Bearing of risks C. Organization of other factors of production D. Decision on what…

6 years ago

When a bill of exchange is signed by a debtor, it is said to be?

A. accepted B. negotiated C. honoured D. protested E. accommodated Correct Answer: Option A - accepted

6 years ago

The payment made to the insured for loss incurred is?

A. premium B. indemnity C. ex gratia payment D. surrender value E. interest Correct Answer: Option B - indemnity

6 years ago

When an industry is nationalized, ownership belongs to the?

A. private investors B. indigenes C. state D. shareholders E. foreigners Correct Answer: Option C - state

6 years ago

The art of combining human, material and other resources to achieve the stated goals of a business is known as?

A. planning B. controlling C. motivation D. directing E. organizing Correct Answer: Option E - organizing

6 years ago

A restriction on the quantity of a commodity that could be imported is known as?

A. license B. price control C. quota D. tariff E. ban Correct Answer: Option C - quota

6 years ago

Which of the following is not a function of merchant banks?

A. Granting long term loans B. Advising corporate institutions C. Underwriting shares D. Discounting bills E. Printing new banknotes Correct…

6 years ago

The document which gives the current price and terms of trade of a product is called?

A. a letter of credit B. an invoice C. an advice note D. a consignment note E. an order form…

6 years ago

When firms that operate at different stages in the production of a commodity merge, this is known as?

A. horizontal intergration B. vertical intergration C. absorption D. conglomerate E. cartel Correct Answer: Option B

6 years ago