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    Commerce Qiuzziz Four

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    oyekanbisi2009

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    Commerce Qiuzziz Four

    Uploaded by

    oyekanbisi2009
    8 views1 page

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    8 views1 page

    Commerce Qiuzziz Four

    Uploaded by

    oyekanbisi2009

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    46. How is a sole proprietorship taxed?

    A. as a separate entity B. as the owner's personal income


    C. as a partnership D. as a corporation
    47. What happens to a sole proprietorship when the owner dies?
    A. it continues to exist B. it becomes a partnership
    C. it becomes a corporation D. it ceases to exist
    48. Which of the following is a feature of a sole proprietorship?
    A. double taxation B. limited liability
    C. shared ownership D. enjoys secrecy
    49. Why is a sole proprietorship also known as a "one-man business"?
    A. bit has only one employee B. because it has only one owner
    C. Because it has only one location D. because it has only one product
    50. What is the primary function of a commercial bank?
    A. to provide loans to individuals B. to accept deposits and provide loans
    C. to invest in stocks and bonds D. to provide insurance services
    51. Which of the following is not a function of commercial bank?
    A. accepting deposits B. providing loans
    C. investing in stocks D. providing foreign exchange services
    52. What is the name of the document that shows the details of a depositor’s account?
    A. passbook B. cheque book
    C. statement of account D. account ledger
    53. What is the term for the process of transferring funds from one account to another?
    A. clearing B. settlement
    C. remittance D. transfer
    54. Which of the following is not a type of deposit account offered by commercial banks?
    A. savings account B. current account
    C. fixed deposit account D. loan account
    55. Which of the following is a type of Central Bank intervention in the foreign exchange market?
    A. open market operation B. reserve requirement ratio
    C. forward contract D. spot transaction
    56. Central Bank is responsible for maintaining a country’s:
    A. fiscal policy B. monetary policy
    C. trade policy D. foreign policy
    57. What is the main function of a Central Bank?
    A. to provide loans to individuals B. to regulate and supervise commercial banks
    C. to manage a country’s foreign exchange reserves D. to print and distribute currency
    58. Who is the drawer of a cheque?
    A. the person depositing the cheque B. the person writing the cheque
    C. the bank issuing the cheque D. the person to whom the cheque is written
    59. What happens if a cheque is deposited after the validity period?
    A. it will be honoured by the bank B. it will be dishonoured by the bank
    C. it will be sent to the payee for confirmation D. it will be returned to the drawer
    60. Why a cheque may be dishonoured?
    A. insufficient funds in the account B. expiry of the cheque
    C. signature mismatch D. all of the above

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