RSS Commerce

RSS Commerce

Professional Development

•

50 Qs

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Assessment

Quiz

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Information Technology (IT)

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Professional Development

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Practice Problem

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Medium

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Qazeem Adelabu

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50 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main objective of business?

To provide employment

To make profit

To increase population

To reduce competition

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a factor of production?

Land

Capital

Money

Labour

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of business ownership has unlimited liability?

Limited liability company

Sole proprietorship

Partnership

Public limited company

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is an example of a variable cost?

Rent

Salaries

Raw materials

Insurance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by 'liquidity' in business?

The ability to meet long-term obligations

The ability to convert assets to cash quickly

The profitability of business

The number of employees in the business

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which document shows the financial position of a business at a specific point in time?

Income Statement

Cash Flow Statement

Balance Sheet

Profit and Loss Account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main role of the Central Bank of Nigeria?

To control inflation

To provide loans to farmers only

To regulate and supervise commercial banks

To distribute salaries

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