Question 1 of 20 4,313 total questions
Which of the following is not true of a sole proprietorship?
A It has a separate legal entity
B It has unlimited liability
C It has a slim chances of expansion
D The capital is small
E It can convert into a company
Into which of the following two broad areas can trade be divided?
A home and foreign trade
B home and retail trade
C wholesale and retail trade
D foreign and wholesale trade
E import and exports
The three main division of production are?
A extraction, manufacturing and construction
B import, export and entrepot
C industry, commerce and direct service
D industry, trade and direct service
Division of labour is limited by?
A non-availability of special skills
B the problem of mass production
C the extent of supply
D the extent of the market
E non-availability of money
The relationship between a country's total receipts and payments in international trade in a given year is called?
A balance of trade
B balance of payments
C terms of trade
D balance of current account
E balance on capital account
The marketing concept which begins and ends satisfying the needs and wants of the consumer is called?
A caveat venditor
B consumer orientation
C consumer association
D consumer protection
E caveat emptor
The form of advertising which aims at wining the market for one particular brand is known as?
A informative advertisement
B generic advertisement
C persuasive advertisement
D competitive advertisement
E direct advertisement
The outright purchase of one company by another is called?
A absorption
B merger
C cartel
D acquisition
E privatization
The reward of land as a factor of production is known as?
A interest
B rent
C profit
D wages
E toll
The reward of land as a factor of production is known as?
A interest
B rent
C profit
D wages
E toll
An agreement whereby the seller transfers the title to goods at a price is called?
A contract of sale
B a hire-purchase agreement
C an agency agreement
D a contract of carriage of goods
E haggling
Who is liable for the contact entered into by the agent on behalf of his principal? The
A agent
B principal
C agent and the principal
D third party
E lawyer who drew up the agreement
A document sent to a customer at regular price intervals to enable him know his indebtedness to his supplier is known as?
A debit note
B invoice
C statement
D receipt
E consignment note
A document sent to a customer at regular price intervals to enable him know his indebtedness to his supplier is known as?
A debit note
B invoice
C statement
D receipt
E consignment note
That part of the money in circulation not backed by gold is known as?
A exchange equalization fund
B fiduciary issue
C note and coins
D ordinary note issue
E fictitious assets
The system of parting with authority not responsibility is known as?
A controlling
B planning
C delegating
D movtivating
E co-ordinating
The system of parting with authority not responsibility is known as?
A controlling
B planning
C delegating
D movtivating
E co-ordinating
The most important factor influencing the form of a business unit is?
A expansion possibities
B business intergrity
C the amount of capital value
D adequate number of skilled employees
E the number of competing firms in the industry
Who among the following is NOT a middleman?
A a retailer
B broker
C factor
D consumer
E wholesaler
Terms of payments are quoted on the?
A order form
B a device note
C credit note
D debit note
E invoice
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