Quiz: The Nature Of Business

10 Questions | By Samuelsj2 | Updated: Mar 22, 2022 | Attempts: 1895

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Questions and Answers

1.

Early economies could be described as:
- A.
  
  Surplus economies
- B.
  
  Service-oriented economies
- C.
  
  Heavy production-oriented economies
- D.
  
  Subsistence economies
2.

The system of exchange of goods and services without the use of money is called:
- A.
  
  Trade
- B.
  
  Barter
- C.
  
  Exchange
- D.
  
  Production
3.

Which of the following items were used to place a value on goods or services in early economies?
- A.
  
  Money
- B.
  
  Bank notes
- C.
  
  Cheques
- D.
  
  Shells
4.

Which of the following is a characteristic of money?
- A.
  
  Acceptability
- B.
  
  Storage
- C.
  
  Unit of account
- D.
  
  Neat
5.

This form of business is allowed to advertise publicly for the sale of shares:
- A.
  
  Sole Trader
- B.
  
  Private Limited Company
- C.
  
  Public Limited Company
- D.
  
  Partnership
6.

This business is regarded as a franchise:
- A.
  
  Microsoft Corporation
- B.
  
  Grace Kennedy
- C.
  
  Burger King
- D.
  
  Jamaica Broilers
7.

This form of payment is a type of loan:
- A.
  
  Debit Card
- B.
  
  Credit Card
- C.
  
  Cheque
- D.
  
  Electronic Transfer
8.

This form of business is formed by a group of persons with similar interests to gain benefits.
9.

The sleeping partner plays an active role in the day to day operations of the partnership.
- A.
  
  True
- B.
  
  False
10.

Unlimited Liability means an investor is not likely to loose his/her personal possessions if the business fails.
- A.
  
  True
- B.
  
  False