RSS Commerce
Quiz
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Information Technology (IT)
•
Professional Development
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Practice Problem
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Medium
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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