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POB MCQ #19 (1) SPECIMEN

Quiz by CWalcott

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30 questions
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  • Q1
    . A system involving the exchange of goods depending on the ‘double coincidence of wants’ is known as
    money
    equal exchange
    barter
    specialization
    30s
  • Q2
    Which of the following is NOT a function of money?
    Measure of Value
    Store of value
    Indivisibility
    Medium of Exchange
    60s
  • Q3
    A post-dated cheque is one which is dated
    for payment at a future date
    to agree with the date of the document requesting payment
    by the bank on the day the cheque is presented for payment
    no later than six months ago
    60s
  • Q4
    Which of the following practices are characteristic of a free economy?
    Central planning and Freedom of contract
    Private ownership of assets and freedom of contract
    Central planning and price fixing
    Private ownership of assets and price fixing
    60s
  • Q5
    In which department of a manufacturing business would an engineer MOST likely be found?
    Marketing
    Production
    Personnel
    Financial
    60s
  • Q6
    Which of the following best include responsibilities must be assumed by the management of a company?
    Producing goods of marketable quality and Maximizing efficiency only
    Maximizing efficiency and creating surpluses and Determining dividends to be paid to shareholders only
    Producing goods of marketable quality and Determining dividends to be paid to shareholders only
    Producing goods of marketable quality; Maximizing efficiency and creating surpluses; Determining dividends to be paid to shareholders
    60s
  • Q7
    Which of the following responsibilities must be assumed by the management of a company?
    Reward
    Fringe
    Bonus
    Motivation Scheme
    60s
  • Q8
    The primary role of the Human Resource Department of a firm is to
    seek training opportunities for employees
    recruit, train and motivate workers
    discipline employees who breach regulations
    represent employees in industrial relations
    60s
  • Q9
    Which of the following best describes characteristics that are exemplary of a good leader?
    Delegating responsibilities; Making intelligent decisions only
    Inspiring workers; Making intelligent decisions only
    Inspiring workers; Delegating responsibilities only
    Inspiring workers; Delegating responsibilities; Making intelligent decisions
    60s
  • Q10
    An authoritarian leader is one who
    takes suggestions from employees
    consults with those likely to be affected by the decision
    makes decisions without consultation
    allows workers to plan their own work
    60s
  • Q11
    The workers in a large organization are dissatisfied with the working conditions. The trade union representatives’ first likely action will be to
    encourage the workers to take strike action
    have discussions with the personnel officer
    request a meeting with the Board of Directors
    encourage employees to adopt go- slow tactics
    60s
  • Q12
    A trait associated with entrepreneurs is
    Acceptance of loss
    Fear of failure
    Opposition to change
    Taking risks
    60s
  • Q13
    Which of the following best describes the purpose of a business plan is to
    Measure the performance of the business; attract financing for the business only
    attract financing for the business; provide directions for the business operations only
    measure the performance of the business; attract financing for the business; provide direction for the business operations
    Measure the performance fo the business; provide directions for business operations only
    60s
  • Q14
    Which of the following factors is LEAST likely to affect the location of a business?
    Suitable infrastructure
    Availability of raw material
    Weather condition
    Availability of labour
    60s
  • Q15
    Which of the following is a regulatory issue for the entrepreneur?
    Paying national insurance to the government
    Offering hire purchase options to customers
    Using a credit card to transact business
    Advertising the business locally and regionally
    60s

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