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Economics Past Questions and Answers

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Economics Questions

Question 756:

A corporation can obtain funds by issuing bonds. A bond is a form of debt which falls due to repayment after?

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A 6 months
B 9 mnths
C 2 years
D 5 years
E 10 or more years

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Question 757:

A firm is said to be a public Joint Stock Company when it?

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A Is owned by the government
B Is operated as a public corporation
C Is operated in a non-democratic fashion
D Sells shares to members of the public and publishes its account
E Is a limited liability company

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Question 758:

Limited liability means?

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A The debts of a company can only be paid from its own assets
B The debts of a company are paid from business as well as private funds of the owners
C Government cannot tax the company
D The debts of a company must be paid from private funds only
E The company does not have to pay its debts

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Question 759:

The purchasing power of the naira will fall when?

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A The naira is devalued
B Government cuts all salaries and wages
C There is inflation
D The colour of the naira is changed
E Workers are retrenched

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Question 760:

When a business has unlimited liability

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A All its profits can be taxed away by the government
B All its assets are owned by the members of its board of directors
C The business ceases to exist at the death of one of its owners
D The owners are responsible for all its financial debts
E The owners are not responsible for all its financial debts

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