Which of the following statements is not true?
- A. Government does not nationalize businesses owned by its citizens
- B. Government nationalizes foreign business
- C. Government does not give nationalized industries to private owners
- D. Government nationalizes viable business
- E. Public corporation are owned by the government
The rights, responsibilities and liabilities of each partner are specified in the?
- A. memorandum of association
- B. prospectus
- C. articles of association
- D. deed of partnership
- E. deed of conveyance
The rights, responsibilities and liabilities of each partner are specified in the?
- A. memorandum of association
- B. prospectus
- C. articles of association
- D. deed of partnership
- E. deed of conveyance
In a limited partnership, the liability of most of the partners is?
- A. pegged
- B. unlimited
- C. limited
- D. unpredictable
- E. restricted
In a limited partnership, the liability of most of the partners is?
- A. pegged
- B. unlimited
- C. limited
- D. unpredictable
- E. restricted
Which of the following is not an important reason for government ownership of industries?
- A. Provision of essential services
- B. Large capital requirements
- C. Avoiding duplication of services
- D. Preventing private monopoly
- E. Making high profit
Which of the following is not a source of capital to a sole proprietor?
- A. Loan from firends
- B. Personal savings
- C. Ploughing back profit
- D. Borrow from relations
- E. Borrowing through debentures
The reward of shareholding in a company is?
- A. profit
- B. dividend
- C. interest
- D. bonus
- E. premium
The reward of shareholding in a company is?
- A. profit
- B. dividend
- C. interest
- D. bonus
- E. premium
Founders shares are usually referred to as deferred shares because the holders?
- A. are not entitled to any dividend
- B. receives their dividends before other share holders
- C. are the managers of the company
- D. receive dividends after other shareholders
- E. are entitled to accumulative dividends
A business unit whose membership ranges from 2-50 is a?
- A. public corporation
- B. partnership
- C. public company
- D. private company
- E. co-operative society
Incorporation simply means the?
- A. floating of a company
- B. reorganization of a company
- C. birth of a company
- D. registration of the Memorandum of Association
- E. appointment of a new Board of Directors
Any action taken by a company outside its stated objective is regarded as?
- A. caveat vendetta
- B. Trepass
- C. ultra vires
- D. uberrimae fidei
- E. a nuisance
Which of the following statements is true of the manufacturing industry?
- A. The factors of production cannot move to other occupations
- B. It is involved in changing raw materials to finished goods
- C. Its product cannot be distributed to consumers
- D. It doesn't not benefit from the services of direct labour
- E. The workers are unskilled
Department stores are usually located?
- A. where low income earners live
- B. In suburban towns
- C. at city centres
- D. in low rental areas
- E. In areas free from traffic jam
In which class of occupation would doctors, teachers and entertainers be grouped?
- A. Extraction
- B. Industrial
- C. Direct Service
- D. Commercial
- E. Industrial Service
Which of the following is not a branch of production?
- A. Consumption
- B. Extraction
- C. Manufacturing
- D. Distribution
- E. Direct services
A system in which people provide their own needs directly is known as?
- A. sub-standard economy
- B. subsistence economy
- C. mixed economy
- D. monetized economy
- E. specialized economy
Trade can be described as?
- A. purchase of goods and services
- B. production of goods
- C. buying and selling
- D. distribution of goods
- E. storage of goods
Which of the following is not an aid to trade?
- A. Transport
- B. Production
- C. Banking
- D. Insurance
- E. Warehouse
Which of the following is not an aid to trade?
- A. Transport
- B. Production
- C. Banking
- D. Insurance
- E. Warehouse