Question 3 (Total: 10 marks) The following are the accounting balances of a manufacturing business as at 31 December 2001: $000 Stocks at 1 ...

BASIC ECONOMICS June 2002 SECTION ONE Question 1 (Total: 20 marks) Answer all questions. Read the following statements and choose the best a...

ACCOUNTING June 2002 SECTION ONE (Compulsory) Answer all six questions in this section. Each question carries 10 marks. Question 1 (Total: 1...

Introduction To Law June 2002 Section one Question 1 Answer all questions below. Do not write more than 20 words on each sentence.1.1 Explai...

1-10 3 1 3 1 2 2 2 1 3 2 11-20 2 1 1 3 3 2 1 2 2 1 21-30 3 1 3 3 1 1 3 3 2 2 31-40 1 2 3 2 1 2 3 1 2 1 41-50 2 2 4 3 4 3 4 1 1 4...

1. Which of the following is not a function of money? ______. 　　A. To act as a medium of exchange　　B. To act as a unit of account　　C....

40. Incoterms apply ______. 　　A. only if clearly incorporated into the contract of sale　　B. to International shipments beyond a cert...

69. A barter economy is one that does not possess _______. 　　A. any wealth B. printed currency　　C. a medium of exchange D. gold　　7...

82. Which of the following payment terms eliminates the exchange risk, assuming the exporter invoices in foreign currency? ______. 　　A...

21. The following statements describing net income are all correct except that ______. A. net income is computed in the income statement, ap...

41. The danger to the exporter in open account trading is that by surrending the shipping documents to the importer, he ______ control of th...

61. The statement of cash flows is designed to assist users in assessing each of the following, except . A. the ability of a company...

81. In documentary collection, the documents will not be delivered to the buyer until ______. A. the goods have arrived B. the buyer has cle...

1. Usually the low interest rate currency trades at a ______ to the high interest rate currency in the forward market. A. premium ...

II. True or False Questions1. The velocity of money is determined by the central bank. True False 2. A multiple increase in GNP could resul...

II. True or False Questions26. As a general rule, the shorter the maturity of an asset and the more readily it can be sold, the more liquid ...

1. In general, the more liquid an asset the ______. A. less it is likely to yield B. greater its risk of defaultC. lower its market price wi...

1. The holder of preference shares has preference over the ordinary shareholders under the following circumstance: _______. A. his voting ri...

1. The financial statements that are dated for a time period (rather than a specific time) are the . A. balance sheet and income statement B...

1. Commercial paper ______. A. is issued mainly by commercial banks B.can be either short or long-term debtC. is most typically issued in ve...