Past Questions And Answers
A cheque of #5,000 paid to Sulieman had been correctly entered in the cash book but had not been entered in Sulieman's account. To correct this error, debit Sulieman's account and credit
- A. cash account
- B. bank account
- C. suspense account
- D. purchases account
The part of the lithosphere which forms the ocean floor is
- A. sial
- B. sima
- C. nikel
- D. nife
When manufacturing enterprises produces goods which form raw materials for other enterprises, it is referred to as?
- A. value added
- B. sub-contracting
- C. forward linkage
- D. backward linkage
The bank which acts as the lender of last resort is the?
- A. central bank
- B. commercial bank
- C. merchant bank
- D. mortgage bank
The shaded areas labelled X on the map indicate the probable areas of the occurrence of
- A. Phosphate
- B. Natural gas
- C. Marble
- D. Lignite
Which of the following are not agents of distribution
- A. Wholesalers
- B. Retailers
- C. Consumers
- D. Government agencies
(a) Distinguish between fixed and variable costs.
(b) Under which conditions will a firm continue to operate at a loss in the short run? (Use figures or a diagram to explain your answer).
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Credit creation by banks is limited by
- A. an increase in bank deposits
- B. the establishment of specialized banks
- C. the non-availability of clllateral security
- D. the use of cheques for all transactions of the banks
A student spent 1/5 of his allowance on books, 1/2 of remainder on food and kept the rest for contingencies. What fraction was kept?
- A. 7/15
- B. 8/15
- C. 2/5
- D. 4/5
Which of the following statement is a disadvantage of human power? it
- A. controls other sources of farm power
- B. brings about least damage
- C. is easily available and controlled
- D. has low output