Which of the following is not a reason for imposing custom duty? The need to
raise revenue
protect home industry
prevent dumping
decrease the volume of world trade
retaliate
Correct answer is D
No explanation has been provided for this answer.
Which of the following requires acceptance bythe editor to make it valuable?
Postal order
Cheque
Promissory note
Bill of exchange
Bill of lading
Correct answer is D
No explanation has been provided for this answer.
When an order cheque is endorsed it becomes?
a bearer cheque
a certified cheque
an open cheque
a confirmed cheque
a dishonoured cheque
Correct answer is A
No explanation has been provided for this answer.
Which of the following is mostly used in Nigeria for setting business transactions?
Credit transfer
Standing order
Cheques
Bank notes and coins
Bank drafts
Correct answer is D
No explanation has been provided for this answer.
Which of the following is not a function of money?
Unit of account
Store of value
Determinant of exchange of medium
Medium of exchange
Standard for deferred payment
Correct answer is C
No explanation has been provided for this answer.