Notes and coins are legal tender because they are
printed by the Central Bank
backed by law
backed by gold
issued by all banks
Correct answer is B
No explanation has been provided for this answer.
Insurance is necessary because of the need to
pool resources together
meet uncertainties in future
make profit
lend money to individuals
Correct answer is B
No explanation has been provided for this answer.
Government can borrow money from the public through
the issuing of treasury bills
increasing taxation
increasing the lending rate
establishing more banks
Correct answer is A
No explanation has been provided for this answer.
Trade discount is given to the buyer for
prompt payment
credit purchase
cash purchase
retailer's mark-up
Correct answer is D
No explanation has been provided for this answer.
Status enquiry is necessary when
goods are ordered from a mail order firm
money is withdrawn from a fixed deposit account
granting credit to a new customer
goods areproduced according to specification
Correct answer is C
No explanation has been provided for this answer.