Principles of Business-Oct Assessment

All are characteristics of money EXCEPT

• Durable

• Scarce

• Portable

• Aesthetics

What is the oldest form of commerce, dating back to the time before hard currency even existed

• Barter System

• Money

• Surplus

• E-Commerce

__________ is primarily a medium of exchange or means of exchange. It is a way for a person to trade what he has for what he wants.

• Barter System

• Money

• Surplus

• E-Commerce

4. Which is NOT a benefit of Barter

• Medium of Exchange

• Indivisibility of Certain Goods

• Store of value

• Flexibility in bartering

Select the type of commodity used as money throughout history

• Bill of exchange

• Pearls

• Fiat money

• Standing order

Jones is considering to partner with Lilly to start a business. an advantage of Partnership is __________.

• There will be more capital available to start the business.

• All partners are required to do work.

• The decision making process may be time consuming.

• Not all partners are liable

Which form of business arrangements has 2- 20 partners

• Public Ltd Company

• Private sector

• Partnership

• Public sector

There are two sectors that govern an economy, they are

• Financial and Fiscal Sector

• Private and Public Sector

• Bank and Non-bank Sector

• None of the above

Three apples might not have the same value as one pair of shoe. This is known as _________.

• Double coincidence of wants

• Store of value

• Common measure

• Unstable

Which form of business arrangements has 2- 50 Shareholders

• Public Ltd Company

• Partnership

• Franchise

• Private Ltd Company