Preference shareholders receive dividend at a ?

d.
fixed rate











Hornby (2001) defined finance as the money needed to support........

An activity, project, or program



Maintaining inventories means the following except

fixed costs




The Memorandum of Association must contain the following information except

transfer or transmission of shares



What is one of the key roles of a Finance Manager ?

Budgeting



What does the market price of a business reflect?

Management\'s activity record and decisions




The three key financial decisions (Christy and Roden, 1973) include the following except?

Recovery of asset of non profit organisation




What crucial role is played by finance staff?

Managing the flow of funds



All the following are long term funds except?

Bankers acceptances




Which of the following is a limitation of profit maximization 
It ignores the timing of returns.


The field of finance is broad and ?

dynamic



Financial sources or funds available to a business organization could be classified into the following except

infinite term


When a company re-acquires new capital fromexisting shareholders, it is called?

right issue



What is described as the provision of money at the time it is required?
Question 10Answer

finance



which of the following is not a central role of finance manager?

planning of manpower needs





The risks that some accident may destroy or spoil some physical goods created by the work financed is described as ?
Question 9Answer

a.
physical risk





According to Oyekanmi (2003), finance is defined as .........

Money affairs or money matters





What is considered the common denominator for the full range of activities performed in business?

Money




which of the following is the most liquid asset?
Question 7Answer

a.
cash




which of the following is not a risk of finance?
Q
c.
technical risks




Which of the following is NOT part of the original field of finance?

Marketing strategies



what is the expected variability of the income flow?
Question 1Answer

a.
risk



In the context of finance, which department is responsible for estimating the level of sales for various pricing policies?

Sales department





The finance manager should be able to find answers to the following questions except?

How should the manager spend his holiday allowance?



Which of the following is not profit maximization limitation?

it is sharred




Profit planning is related to considering four main factors which include the following except?

residual income


What may be expressed as the amount a business can spend in a period and be as ?well off? at the end of the period than as at the beginning?
Question 4Answer

a.
income



Which of the following financial market is share traded?

capital market



What is the new name for balance sheet?

Statement of Financial position




Which of the following is not a main component of financial statement?
Question 7Answer

a.
Retained profit




Pandey (2005) stated that the basis of the theory of financial management is the same as that of maximisation of owners??
Question 6Answer

a.
welfare



Financial sources or funds available to a business organization could be classified into the following except

infinite term



All the following are long term funds except?

Bankers acceptances



which of the following relates to financing decisions and practices of individual households, businesses and non-business organisations?

Micro finance




What crucial role is played by finance staff?

Managing the flow of funds





Which of the following is not an example of short term sources of finance?
Question 9Answer

a.
share



What is the primary financial goal of a business firm?

Shareholders\' wealth maximization




The Memorandum of Association must contain the following information except
Question 8Answer

a.
transfer or transmission of shares






What does the market price of a business reflect?

c.
Management\'s activity record and decisions




Which of the following is not a basic feture of partnership business?
Question 7Answer

a.
Life of partnership is limited because it is a legal entity





The three key financial decisions (Christy and Roden, 1973) include the following except?
Question 6Answer

a.
Recovery of asset of non profit organisation











Deferred tax payment is a good example of which type of finance?
Question 1Answer

a.
short-term sources



____________ is called borrowed fund or finance and referred to also as debt.

External Finance



Shareholders can be of two types Ordinary and _______

Preference shares


The Finance functions include the following except

Liability decision


What is very important to the firm in the acquisition of long-term funds?

Capital Market


The dividend rate for _________ shareholders is not fixed and can vary from year to year depending on the board of directors.

Ordinary

What is Working Capital Management?

Management of current or short-term assets and short-term liabilities

Finance functions include the following EXCEPT?

expenditure function

What type of market is Real Market?

For trading on physical or tangible and intangible goods.


___________ are not owners of the company, but they provide money to enterprises as loan which are debt.

Creditors


Which one is not a step in Cash Management?

a.
Disbursement of cash balances




A type of risk that some accident may destroy or spoil some physical goods created by the work financed is called ___________

Physical Risks and Finance



The main components of Working capital management include .................

all of the options





BFN209 List of Questions

Latex formatted questions may not properly render

Q1 What is Inventory Management?
Inventory management is a tool to avoid excessive and inadequate levels of inventories and maintain su ficient inventory for the smooth operations of the enterprise in terms of production and sales output
Q2 Identify the one that's not an elementary fact about Receivables
It implies the purchaser must pay at the point os sale of good/serbvice

Q3 What's another name for Trade Debtors?
Account Receivable

Q4 Which alternative is not a motive for holding cash?
Reconciliation motive

Q5 What is not a the source of Cash?
Personal contributions

Q6 Which one is not a step in Cash Management?
Disbursement of cash balances

Q7 What is Cash Management?
Managing cash flow in and out of the orgnaisation

Q8 Which one is not a component of Working Capital Managemenet?
Capital Management

Q9 Who ordinarily is not a user of Financial Statement?
Teachers in public schools

Q10 Which alternative is not a benefit of cash flowanalysis?
To assess the competence of Management

Q11 Which is an element of income statement?
Al alternatives
Q12 Which is not a component of short-term assets?
Creditors Investments

Q13 What is Working Capital Management?
Management of current or short-term assets and short-term liabilities

Q14 In a producing enterprise which one is not an inventory?
Current liabilities

Q15 What are Inventories?
The balance of goods on hand

Q16 What's another name for Accounts Receivables?
Trade debtors

Q17 Why is Pricing important?
It is the main source of revenue for the organisation

Q18 Why is Cost Control important?
It has a tendency to a fect a lother factors.

Q19 Profit planning is related to considering these factors,except
location costs

Q20 Budget is profit plan based

Q21 What itemare you not expected to see on an Income Statement?
Sta f overdraft
Q22 What item is not supposed to be found on a standard Balance Sheet?
Food and Beverages

Q23 The pro forma (typical) financial statement of an enterprise is shown below. It is made up of the following,except:
Sta f loans book.

Q24 Financial statement analysis is used
Sta f appraisal purpose.

Q25 What is a Financial Statement?
It is a statement that records financial activities of a particular business organisation.
Q26 What is the main function of the Securities and Exchange Commission?
It is the apex regulatory organisation for the Nigerian capital market.

Q27 What is the Nigerian CapitalMarket called?
Nigerian Stock Exchange

Q28 What is the Capital market?
It is the meeting point for investors (lenders) and firms (borrowers).

Q29 Which one is excluded? Profit planning is an aid to anticipating the relationships among
Location

Q30 What is meant by the cost structure of the business organization?
The mix of fixed and variable costs.
Q31 Which is least true? Finance decisions influence the
position

Q32 Which one alternative is not true of the Financial Manager?
S/he is the Chief Executive O ficer of the organization.


Q33 Which one alternative may not pass as goal of of the firm?
Perpetuationino fice of the Finance Manager

Q34 In the market economy of a country, what determines prices of goods and service?
Forces of demand and supply

Q35 Which fubction do you consider inappropriate for the Treasurer?
Supervision of Production sta f

Q36 What designation do you consider least appropriate for the head of the finance function?
Managing Director, Finance.

Q37 The smaller business
consolidates many duties in fewer sections and units.

Q38 The finance function to staff and departments will be dependent upon
the size and magnitude of the business organisation.

Q39 Whichessentially is not the duty of the Finance Manager?
Procurement of raw materials for manufacturing

Q40 Which alternative is not an important routine finance functions?
None of the alternatives

Q41 What is the direction of relationship between Risk and Return in Investment?
Opposite direction

Q42 Which one is not a way of avoiding or reducing risk?
Choosing a completely di ferent course of action or alternative

Q43 Define Political Risk
These are risks of losses as the result of unforeseen intervention by governments.


Q44 Economic risks include the follwing except
damage to physical goods

Q45 What does Technical Risk measure?
The chance that the competence of workers may be doubtful and not reach required standard
Q46 Which is not a common risk in Finance?
Future risk

Q47 Liquidity of an enterprise is affected by the level of management of current asset

Q48 What is dividend-payout ratio?
The proportion of profits distributed as dividend

Q49 The proportion of distribution of profit and the balance retained is subject to the following except
the prevailing political situation

Q50 The capital structure is said to be optimum
when the market value of shares is maximized

Q51 What is meant by Capital Structure? The mix of equity and debt financing

Q52 The  central issue  with Financing Function is  the determination of appropriate proportion of internal (equity) and external (debt)

Q53 Investment proposals should be analysed and evaluated in terms of both
Expected return and risk

Q54 One important aspect of investment decisions is

Prospective profitability of new investment
Q55 Investment decisions involve capital expenditures which are referred to as
Capital budgeting decision

Q56 The Finance functions include the following except
Liability decision

Q57 What is Right Issue?
These are share alotted to existing shareholders as alternative to cash dividends.

Q58 What does the abbreviation SEO represent?
Seasoned Equity O fering

Q59 What does the abbreviation IPO represent?
Initial Public O fering

Q60 Why is preferred share given preference over ordinary share? It has fixed rate of dividend and is ranked higher in payment of dividend
Q61 Which one is not a financial asset?
Services.

Q62 What type of market is Real Market?
For trading on physical or tangible and intangible goods.

Q63 What are the commodities traded at the financial market?
Financial assets

Q64 Which is not a type of shareholder?
Secondary share

Q65 What two markets are you farmiliar with in Finance?

Financial and real assets

Q66 What returns does a shareholder expect fromhis/her investment?
Dividend and capital gains
Q67 Why do people buy shares?
For investment purposes - to make returns or money.

Q68 What's the difference between shareholders and stockholders?
In practice, there's no di ference between the two

Q69 Buyers of shares are called shareholders/stockholders and they are the legal-owners of the business whose shares they hold.
True

Q70 What do shares represent?
Ownership rights of their holders.

Q71 What can a firm/business acquire when it sells shares?
Equity funds

Q72 What's the alternative name for External Finance?
Debt

Q73 What's the alternative name for Internal Finance?
Equity

Q74 There are two types of financing an enterprise can apply, namely
Internal and external

Q75 For the organisation to survive
its income must be greater than the expenses

Q76 What does the Business (Working) Cycle depict?
Demonstrates the way funds flow through business

Q77 All three elements except one must be held in balance to enable optimum utilization of the resources of the enterprise.
Education

Q78 What do you understand by this statement: "Money is the common denominator for the full range of activities performed in the business"?
Al aspects of business activities require money

Q79 What originally did the field of finance not cover?
Financial Econometrics

Q80 What is Finance?
It is money a fairs or money matters



BFN209 List of Questions

Latex formatted questions may not properly render

Q1 Business need to hold cash to achieve the following motives except
Social

Q2 The aimof cash management is to maintain adequate control over cash position to be able to keep the enterprise sufficiently liquid and to use excess cash in some profitable way.
True

Q3 Which of the following is a components of short-term liability
creditors

Q4 Which of the following is not a components of short-term asset
creditors

Q5 Working capital management refers to
to the management of current assets and liabilities

Q6 Basic elements of cash flow include the following except
Marketing Activities

Q7 An enterprise???s long- termprojected plan should not reflect its long-termpricing policy.
False

Q8 Pricing policy provides the means in which the enterprise can control to a degree, its relationship with its external environment and at the same time, it is controlling its internal operations accordingly.
True

Q9 Budget is the ?????????... plan base
Profit

Q10 Profit planning is related to considering four main factors, namely
fixed costs, variable costs, se ling price and sales volume.

Q11 Every corporate business Firmstates categorically the following except
turnover

Q12 Profit maximization objective is always clear.
False

Q13 Pandey (2005) summarised profit maximization limitations as follows except
It is certain

Q14 ????????????. is a vital organ of a market economy, showing the goods and services required in the community.
Price mechanism

Q15 In the market economy of a country, prices of goods and services are determined
by the forces of demand and supply.
Q16 The Treasurer is an active participant in long -range financial planning.
True

Q17 The accounting and control function for the finance manager includs the following except
Capital market conditions

Q18 Planning funds for operations and capital budgeting is a joint decision-making process conducted by personnel in the following department except
Account

Q19 The framework and responsibility for pricing/costing policy are jointly determined by the
marketing/sales department and financial planning staf .

Q20 Finance manager's duties include the following except
Sourcing production materials

Q21 Retained earnings is also known as

Undistributed profits

Q22 The following are products of financial market except
Patent

Q23 Shareholders can be of two types and they are ?????????
Ordinary and Preference.

Q24 The return to shareholders consists of ????????????.
dividend and capital gain

Q25 Which one of the following is not an example of external finance
Equity

Q26 Money is not the common denominator for the full range of activities performed in the business.
False

Q27 Money is the medium of exchange in business; the other two elements are
production and marketing.

Q28 Finance evolved from----------
Economics

Q29 Which one of the following is not an example of money or near-money according to Anao (1993).
Fund

Q30 Oyekanmi (2003) defined finance

???as money af airs or money matters???.

FBQ1: Finance plays a very important role in any
----------- activities Answer: Business

FBQ2: A business is a concern, an enterprise, or organization set up by an individual or group of individuals for the purpose of making	from
operations of the concern. Answer: Profit

FBQ3: Finance may be defined as the provision of money at the time it is-----------
Answer: Required

FBQ4: The --------- are expected to be arranged in such a way that fund (money) is always available to make necessary payments as they arise.
Answer: Inflows

FBQ5: Oyekanmi (2003) defined finance “as money affairs or money	â€
Answer: Matters

FBQ6: According to Hornby (2001), finance is the money need or needed to--------- an activity, project, programme etc. and or the management ofmoney.
Answer: Support

FBQ7: -------- evolved from economics as its branch in the early part of the 20th century Answer: Finance

FBQ8: Money is the common ---------- for the full range of activities performed in the business.
Answer: Denominator

FBQ9: ----------- is the medium of exchange in business
Answer: Money

FBQ10: A ------- generates whatever capital it needs and utilizes it in activities which generate returns on invested capital
Answer: Firm

FBQ11: Internal finance is also known to as -------
fund/finance Answer: Equity

FBQ12: External finance is also known to as -------
fund/finance Answer: Borrowed

FBQ13: The equity fund/finance is solely owned
by ------------------
Answer: Shareholders

FBQ14: Buyers of shares are called
------------------------
Answer: Shareholders

FBQ15: Shareholders invest their money in the shares of a company in theexpectation of a return on their invested ----------- .
Answer: Capital

FBQ16: The return for shareholders consists of
----------- and capital gain. Answer: Dividend

FBQ17: In a financial system, the Household are
also referred to as ____
Answer: Consumers.

FBQ18: ----------- represent ownership rights of their holders
Answer: Shares

FBQ19: Shareholders can be of two types that is, preference and ------------
Answer: Ordinary

FBQ20: There are two kinds of markets, namely real assets and ---------
Answer: Financial

FBQ21: ----------- markets are for physical or tangible assets such as plant, machinerywheat, office, gold, buildings etc.
Answer: Real

FBQ22: Intangible ------------ include copyrights, patent, technical know-how.
Answer: Assets

FBQ23: Financial market trades on ------------
assets
Answer: Financial

FBQ24: ---------- shareholders receive dividend at a fixed rate and they enjoy apriority over ordinary shareholders.
Answer: Preference

FBQ25: A ----------- can also obtain equity funds by retaining earnings available forshareholders. Answer: company

FBQ26: ----------- shareholders they enjoy a priority over ordinary shareholders.
Answer: Preference

FBQ27: A ------------ is a certificate stating the amount of money lent by a holder to the company. Answer: Bond

FBQ28: A business organization performs ----------
functions simultaneously andcontinuously in the normal course of its activities.
Answer: Finance

FBQ29: ---------- decisions involve capital expenditures which are referred to ascapital budgeting decision.
Answer: Investment

FBQ30: Capital structure is the mix of equity and
------------
Answer: Debt

FBQ31: The capital structure is said to be

optimum when the market value of shares is
--------------.
Answer: Maximized

FBQ32: The ----------- of profits distributed as dividend is called the dividend-payout ratio.
Answer: Proportion

FBQ33: The ---------- ratio is the retained portion of profits.
Answer: Retention

FBQ34: The --------- policy is determined by its impact on the shareholder’s value.
Answer: Dividend

FBQ35: Liquidity and ------------ affect investment in current assets in business organizations.
Answer: Profitability

FBQ36: ------------------- of an enterprise is affected by the level of management of current asset.
Answer: Liquidity

FBQ37: Risk of illiquidity (lack of liquidity), in extreme situations, can lead to a business
--------------
Answer: Insolvency

FBQ38: -------------- assets if properly/efficiently managed would safeguard the business organization against risk of illiquidity.
Answer: Current

FBQ39: ------------ risks are risks that some accident may destroy or spoil some physical goods created by the work financed.
Answer: Physical

FBQ40: ------------ risks are those risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan,hence it may fall short of achieving the intention
Answer: Technical

FBQ41: The simplest form of finance is where the whole of finance required by aparticular enterprise is provided by an	--.
Answer: Entrepreneur

FBQ42: Partnership and Limited Liability Company are two main ----------- forms under which people join together on equal terms to provide the finance needed for an enterprise, sharing fully in both risks and profits.
Answer: Institutional

FBQ43: ------------------------ and Limited Liability Company are two main institutional forms under which people join together on equal terms to provide the finance needed for an enterprise, sharing fully in both risks and profits.
Answer: Partnership

FBQ44: The ------------------ oversees or manages

the enterprise’s liquid assets, liabilities, payroll and cashier activities, credits and collections, forecasting, capital budgeting and investment and financing.
Answer: Treasurer

FBQ45: The Treasurer is an active participant in long-range financial -------------
Answer: Planning

FBQ46: In ---------- economy of a country, prices of goods and services aredetermined by the forces of demand and supply.
Answer: market

FBQ47: ----------- mechanism (system) is a vital organ of a market economy, showing the goods and services required in the community.
Answer: Price

FBQ48: The ---------- price is where demand and supply match.
Answer: Equilibrium

FBQ49: ------- is the expected variability of the income flow.
Answer: Risk

FBQ50: Business firms are frequently profit oriented with maximization of profitas the proper
-------------
Answer: Objective

MCQ1: ------------------- defined finance “as money affairs or money mattersâ€.
Answer: Oyekanmi (2003)

MCQ2: --------------- is an
example of external finance Answer: Loan

MCQ3: The return to shareholders consists of …………. and capital gain
Answer: dividend

MCQ4: Money is the common denominator for the full range of activities performed in the business.
Answer: true

MCQ5: According to Anao (1993), which one of the following is an example of money or
near-money?
Answer: Certificate of deposits

MCQ6: Which of the following is not a product of financial market?
Answer: Patent

MCQ7: Finance evolved from accounting Answer: false

MCQ8: Undistributed profits is also known as
----------------
Answer: Retained earnings

MCQ9: The capital structure of a firm could be

defined as -------------
Answer: The mix of equity and debt

MCQ10: ------------------ are risks of losses because of unforeseen intervention by governments.
Answer: Political risks

MCQ11: Economic risks are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan
Answer: false

MCQ12: Shareholders can be of two types, namely preference and --------------------
Answer: Ordinary

MCQ13: Financial decisions is concerned with the acquisition and not disposal of assets through commitment or recommitment of funds on a continuous basis.
Answer: False

MCQ14: Finance manager's duties include Answer: Selecting and evaluating projects

MCQ15: Product pricing/costing policy are jointly determined by the --------------
Answer: marketing/sales department and financial planning staff.

MCQ16: The Treasurer is an active participant in

long-range financial planning. Answer: True

MCQ17: The accounting and control function for the finance manager include
Answer: Tax matters

MCQ18: Price mechanism is a vital organ of a
---------------, showing the goods and services required in the community.
Answer: market economy

MCQ19: Which one is not a limitation of profit maximization according to Pandey (2005)?
Answer: It is certain

MCQ20: Profit maximization objective is not always clear to stakeholders of the firm.
Answer: True

MCQ21: The account manager is responsible for performing finance functions in a firm
Answer: false

MCQ22: Which of the following was not always a major events in the life the firm for raising funds Answer: Annual general meeting

MCQ23: Which one of the following is the regulator of the capital market in Nigeria Answer: The Nigerian Securities and ExchangeCommission

MCQ24: -------------------- is the meeting point for investors and firms
Answer: Capital market

MCQ25: ----------- is an example of fixed asset Answer: furniture and fittings

MCQ26: --------------------- is a book in which receipts and payment of money are recorded Answer: Cash book

MCQ27: Which one is not an example of current liability?
Answer: Trade debtors

MCQ28: Profit after tax is	item
Answer: An income statement

MCQ29: The balance sheet is more important than other financial statements to report the activities and performance of the firm Answer: false

MCQ30: Profit planning is not related to
considering -----------------
Answer: Depreciation

MCQ32: Cash flow element include ----------------
Answer: Investing Activities

MCQ33: --------------- refers to the management of current assets and liabilities
Answer: Working capital management

MCQ34: The aim of cash management is not to maintain adequate control over cash position to be able to keep the enterprise sufficiently liquid and to use excess cash in some profitable way. Answer: False

MCQ35: Components of short-term asset are the following except
Answer: Creditors

MCQ36: Business need to hold cash to achieve the	motive
Answer: speculative

MCQ37: A --------------- have the legal right to enter into a contract, sue and be sued in its name. Answer: limited liability company

MCQ38: Operators of companies are by law to register with ---------------
Answer: Corporate Affairs Commission

MCQ39: The promoters of a limited liability company must apply for registration with …….. Answer: Memorandum and Articles of Association

MCQ40: Long-term sources of funds represent Answer: Debenture

MCQ41: Debenture stocks are normally issued under a firm’s seal
Answer: True

MCQ42: --------------------- are the preference shares that allow for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend
Answer: Cumulative preference shares

MCQ43: Which one is not an example of lease financing?
Answer: Debenture lease

MCQ44: ---------------- convey upon the holders the right to convert these shares into equity shares in accordance with the terms of issues.
Answer: Convertible preference shares

MCQ45: Budgeting helps to identify the -----------
desired Answer: Output

MCQ46: Planning helps to identify the ----------
required. Answer: Inputs

MCQ47: A financial plan is a budget that interprets some elements of a plan in financial terms.
Answer: False

MCQ48: ------------------------ is the financing decisions and practices of individual households, businesses and non-business
Answer: micro finance

MCQ49: Debenture stocks is also known as
--------------
Answer: Corporate bonds

MCQ50: ----------- is a creditor to the firm. Answer: A debenture stock holder

MCQ31: An enterprise’s long-term projected plan should reflect its long-term pricing policy.
Answer: True


Bfn209
Balance sheet shows the present _______ of a business. (Statement)
Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)
BUS205
___________ is a means by which power is acquired, exercised and sustained. (Communication)
Non __________ income is used to buy items to meet basic needs. (Discretionary)
_________motivation also causes you to be loyal to certain shops and companies. (Patronage)
__________ is a book in which particulars of all monies received or paid are recorded. (Cash Account)
___________ is the value that products and sellers place on goods or services. (Price)
Social __________ is owed by individuals and not by organizations. (Obligation)
_______ researchers also gather information from a wider group of people. (Market)
The _______ is the total amount supplied by owner of the business or owners equity or net worth. (Capital)
__________ must be attractive. (Packaging)
________include the resources possessed by the firm. (Assets)
BUS207
Verbal communication is one way for people to communicate ______________. (Face to face)

The actual origin of ___________ is subject to considerable speculation(Language)
If a language is about communicating with signals, voice, sounds, gestures, or written symbols, can animal communications be considered as a ___________? (Language)
The basis of _________________ is the interaction between people. (Communication)
Animals do not have a __________ form of a language, but use a language to communicate with each another. (Written)
Some words may be imitative of natural __________, but others may come from expressions of emotion, such as laughter or crying. (Sounds)
Some of the key components of verbal communication are sound, writing, speaking, and ______________. (Language)
A dialogue is a reciprocal conversation between _______ or more entities, (TWO)
As meaning is assigned to words, language develops, which leads to the ___________ of speaking. (Development)
At birth, most people have vocal cords, which produce __________. (Sounds)
BUS106
It could be argued that the _______ school is identical to the management process school. (Empirical)
Art is the imposition of __________. (Pattern)
___________ are best seen as fundamental or general truth on which other truths depend.(Pinciple)
Gilbreth is known for his work on time and _________studies. (Motion)
Decision theory schools believe in _________decision making. (Rational)
The first principles of management were advocated. (Henry fayol)
There are special areas of management that are not subjected to rigous of(Science)

spend his life working on the difference engine (Babbage)

Management can be define as getting thing done through (Organising)

Management can be define as a team or group of individuals in _________(Organisation)

ECO122

Exports are determined by factors outside the control of the ___ economy (Home)

The two components of import demand is fixed, and at the same time it varies with (Income)

The ____ are guided by the level of income, price level, taste and fashion of the foreign consumers (Spending Decision)

In technical terms, _____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade (Gain from trade)

Gains from trade are the net benefits to agents from allowing an increase in voluntary ______ with each other (Trading)
Import demand changes as______ changes (Income)
Because export is exogenous while a part of import is an increasing function of income, net exports are_____ related to national income/national output (Negatively)
_____ depend on the spending decisions of domestic consumers (Import)
When income rises, the aspect of _____ rises as well and when income falls, it falls (Import demand)
Exports depend on spending decisions made by foreign ____ or overseas firms that purchase domestic goods and services (Consumer)

ECO231

The demand for goods and services is __ (Direct Demand)

The prices paid to the factors of production are called (All of the above)

Reason for the study of factor pricing are (All of the above)

The demand of factor of product can also be Joint Demand because for producer to produce orange he/she has to demand for all the _(factors of production)

The factors needed in the production process are also known as (Production Service)

The factor pricing is concerned with the determination of prices of services of factors of ______ (Production)

To produce goods and services, ____ need the services of factors of production, like land, labour, capital, and entrepreneur (FIRMs)

The theory of distribution is an attempt to explain how income is distributed among the factors of __ (Production)

The employer of factors of production only uses the factors in the production of goods and services to be finally sold in the ____(Product Market)

When workers are engaged or capital are borrowed, it does not offer any direct satisfaction to the ____ (Producer)

The production concept holds that consumers will value products that are highly (Affordable)

Another important role is the discovery of entrepreneurial talent (Agree)

Marketing's first role is to (Stimulate Aggregate potential demand)

Consumerism is an organized movement of citizens and government to fight wars on poor products(Disagree)

Commodity approach in marketing focuses on (Classes of products)

The major goal of an organization to an extent is (Profit)

The product concept holds that consumers value products that offer (High Quality)

Marketing concept holds that organization must first create to satisfy (Needs and want)
One of the significance of marketing is to provide (impulse purchase)

The purpose of marketing concept is to help organizations (Achieve its goal

BFN203

According Gardon (2014), there is a remarked difference between capital gains investing and the game of speculation

The_________ is a document which sets broad parameters for taxation and ancillary matters connected with taxation (National tax Policy

investing is the art of buying and selling an asset for a profit (Capital Gain Investing)

__ is a technique that reduces risk by allocating investments among various financial instruments, industries and other categories (Diversification)

some or all of a loan when the borrower is ins (Credit Insurance)

The steps involved in personal financial planning process Include all of the following except________ (Goal Division)

are options to purchase common stock at a specified price up to a specified date (Warrants)

Is a type of tax (PAYE)

Owning a current and savings account have the same requirements (False)

Ent203

The achievement needs theory was developed by (McCelland)

Which of the following emphasized the risk aspect of entrepreneurship (Cantillon)

Which of the following a pattern of venture capital development (Mid Stage)

Entrepreneurial process include the following stages except? (Profit Planning)

(New Monnies)

VC stands for (Venture Capital)

Which of the following will not support in-house entrepreneurial development in organizations (Bickering)

CIT201
The software that uses the power and speed of a computer machine to perform some mathematical calculations or simulate some real life situations is called a ___ software. (Modeling)

________________________________________

________________________________________

________________________________________

________________________________________

________________________________________
________________________________________

________________________________________

________________________________________






======
BUS106
======

1. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

2. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

3. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

4. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

5. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

6. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

7. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

8. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

9. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

10. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

======
BUS106
======

11. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

12. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

13. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

14. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

15. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

16. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

17. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

18. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

19. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

20. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

======
BUS106
======

21. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

22. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

23. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

24. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

25. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

26. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

27. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

28. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

29. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

30. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

======
BUS106
======

31. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

32. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

33. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

34. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

35. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

36. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

37. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

38. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

39. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

40. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

======
BUS106
======

41. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

42. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

43. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

44. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

45. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

46. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

47. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

48. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

49. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

50. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

======
BUS106
======

51. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

52. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

53. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

54. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

55. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

56. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

57. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

58. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

59. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

60. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

======
BUS106
======

61. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

62. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

63. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

64. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

65. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

66. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

67. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

68. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

69. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

70. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

======
BUS106
======

71. ___is a process of breaking an enterprise into smaller groups and levels.

	--->> Departmentation

	      Staffing

	      Centralisation

	      decentralisation

72. The ___could be formal or informal.

	      business

	--->> Orrganisation

	      Enterprise

	      business letter

73. The ____is a  vehicle for the implementation of a plan.

	--->> system

	      management

	      communication

	      information

74. The effectiveness of a ___depends on how it is implemented.

	      system

	      Department

	--->> plan

	      none on the list

75. ____ is the basic to all managerial functions

	--->> Planning

	      Organising

	      Unity of command

	      Decision making

76. An individual, who gets the thing done is a ____.

	      leader

	--->> manager

	      director

	      organiser

77. ___ normally has a network of goals, objectives and targets.

	      Business

	      Management

	      Enterprise

	--->> Organisation

78. ____deals with a qualitaive and quantitative aspect of manpower in terms of placement.

	      Planning

	--->> Organising

	      unity of command

	      none on the list

79. The functions of a___ can be a line or a staff.

	      system

	--->> Department

	      plan

	      none on the list

80. Some business problems arise due to failing on the ___ grounds.

	      management

	      managing

	--->> ethical

	      decision

Bus106 tma2
10/10
81. Control mud be tailored to position...
And. Monitor
82. Company.......... Are also part of the data
Ans. Records
83. In process of planning in an organizations.......
Is being made
Ans. Decision
84. ......... Distribution, expenditure pattern..
Ans. Income
85. Interview is used interchangeable with
Ans. Selection
86. The technique commonly employed by a....
Ans. Support subordinate
87. In process of planning in an organizations...... Is being made
Ans. Decision
88. The manager must comply with the......
Ans. Legal
89. Organization can broadly be classified as
Ans. Formal/informal organization
90. The managerial functions of leading...
Ans. Influencing


1. ) The word  concerns the laying down of policies
Ans => Administration
2. ) Is the process of transferring information from a sender to a receiver with the information being understood by the receiver
Ans => communication
3. ) The manager must comply with the  requirements for establishing and operating his business
Ans => Legal
4. ) The essence of  lies in checking existing actions againsts some desired results which have been determined
Ans => control
5. ) Providing scheme of control is the responsibility of
Ans => Board or Director
6. ) Control must be tailored to positions, this is necessary so that the right person will  activities in their own field
Ans => monitor
7. )  distribution, expenditure patterns, saving capability of consumer all effect demans
Ans => income
8. ) Flat shaped structure falls under
Ans => wide span of control
9. )  is aimed at calculating or predicting what is likely going to happen
Ans => Forecasting
10. ) The very survival of an   dictate that a certain minimum profit has to be made
Ans => organization




BUS106 TMA3
1) .... of management implies that all managers in the hierarchy perform identical function
* Universality
2) A scholarly grouping of concepts and principles creates a......
* Theory
3)the theory of management is the synthesis of the concepts and principles in.....
* management
4)the principles of management help in subordinate...
* Development
5)Management  system is..... in all formal organization
* identical
6)Every system is made up of.....
* Subsystem
7)Important impacts of principles is that it helped to promote in management....
* Research
8)Management is not an exact..... it deals with people whose behaviours unpredictable and complex
* Science
9)When the goals of the individual and the goals of the organization are the same we have....
* goal congruency
10)...... are abstractions formed from generalization
* Concept





1) .... of management implies that all managers in the hierarchy perform identical function
* Universality
2) A scholarly grouping of concepts and principles creates a......
* Theory
3)the theory of management is the synthesis of the concepts and principles in.....
* management
4)the principles of management help in subordinate...
* Development
5)Management  system is..... in all formal organization
* identical
6)Every system is made up of.....
* Subsystem
7)Important impacts of principles is that it helped to promote in management....
* Research
8)Management is not an exact..... it deals with people whose behaviours unpredictable and complex
* Science
9)When the goals of the individual and the goals of the organization are the same we have....
* goal congruency
10)...... are abstractions formed from generalization
* Concept

1. 	BUS106	Management is as old as _______ organization	,,,,,,,,,,,,,,,,,,,,,human	TMA1
2. 	BUS106	In the pre-industrial period, management was practiced by various part of the world including_______	,,,,,,,,,,,,,,,,,,,,,Africa	TMA1				
3. 	BUS106	The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system	,,,,,,,,,,,,,,,,,,,,,administrative	TMA1				
4. 	BUS106	Ghana's judicial system had both a _______ court and a court of appeal	lower	TMA1				
5. 	BUS106	What is said of Ghana can be said of ________	Mali	TMA1				
6. 	BUS106	Egyptian carried out activities such as the following except	shoemaking	TMA1				
7. 	BUS106	The main _____________ was what to do in order to increase employee productivity	pre - occupation	TMA1				
8. 	BUS106	Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________	management	TMA1				
9. 	BUS106	___________ is often referred to as the father of scientific management	Fedrick W. Taylor	TMA1				
10. 	BUS106	Scientific management is to increase the ____________ of the average employee	output	TMA1				




























======
BUS106
======

91. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

92. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

93. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

======
BUS106
======

11. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

12. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

13. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

14. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

15. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

To a student management is an________________ discipline

academic


Formal leadership occurs when a person is appointed or elected as an _________ figure

91.
authority

_______________ management uses the methods of science in making decision and evaluating its consequenxes

scientific

___________ are best seen as fundamental or general truth in which the other truth depends

principles



The effectiveness of a ___depends on how it is implemented.

plan


One of the most important impacts of principles is that it helped to promote ______________ in management

research



It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________


experiment


The very survival of an _______ dictates that a certain minimum profit has to be made


organization




A ___________ leader cannot function without the authority


formal
























..............................

Wide span of control
Communication
Board of directors
Income
Monitor
Legal
Control
Forecasting
Administration
Organization
Question
Free - reign leadership is also called ______________

Answer
Laissez-faire



Question
One way communication without feedback leades to ___________ and communication breakdown

Answer
misunderstanding



Question
___________ encourages subordinates participation in the decision making process

Answer
participative



Question
__________ is needed when the demands of a task on hand are ambiguous

Answer
directive



Question
The ___________ approach defines leadership in terms of his ability to handle a given situation and is based on his skills in that given area

Answer
situational



Question
Theory states that an analysis of leadership involves not only the individual traits and behaviour but also a focus on the situation

Answer
contingency theory



Question
_________ leadership occurs when a person is appointed or elected as an authority figure

Answer
formal



Question
Based on the elements of leadership function the leadership may be defined as _________

Answer
L = F



Question
Direction must be clear and unambigious an from __________ chain of command

Answer
single



Question
In ___________organisation all managerial and worker role are clearly defined

Answer
role - oriented



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
Free - reign leadership is also called ______________

Answer
Laissez-faire



Question
One way communication without feedback leades to ___________ and communication breakdown

Answer
misunderstanding



Question
___________ encourages subordinates participation in the decision making process

Answer
participative



Question
__________ is needed when the demands of a task on hand are ambiguous

Answer
directive



Question
The ___________ approach defines leadership in terms of his ability to handle a given situation and is based on his skills in that given area

Answer
situational



Question
Theory states that an analysis of leadership involves not only the individual traits and behaviour but also a focus on the situation

Answer
contingency theory



Question
_________ leadership occurs when a person is appointed or elected as an authority figure

Answer
formal



Question
Based on the elements of leadership function the leadership may be defined as _________

Answer
L = F



Question
Direction must be clear and unambigious an from __________ chain of command

Answer
single



Question
In ___________organisation all managerial and worker role are clearly defined

Answer
role - oriented



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
Free - reign leadership is also called ______________

Answer
Laissez-faire



Question
One way communication without feedback leades to ___________ and communication breakdown

Answer
misunderstanding



Question
___________ encourages subordinates participation in the decision making process

Answer
participative



Question
__________ is needed when the demands of a task on hand are ambiguous

Answer
directive



Question
The ___________ approach defines leadership in terms of his ability to handle a given situation and is based on his skills in that given area

Answer
situational



Question
Theory states that an analysis of leadership involves not only the individual traits and behaviour but also a focus on the situation

Answer
contingency theory



Question
_________ leadership occurs when a person is appointed or elected as an authority figure

Answer
formal



Question
Based on the elements of leadership function the leadership may be defined as _________

Answer
L = F



Question
Direction must be clear and unambigious an from __________ chain of command

Answer
single



Question
In ___________organisation all managerial and worker role are clearly defined

Answer
role - oriented



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human
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Get more at (www.puredu.net)
(www.puredu.net) (www.puredu.net) 9/10

The major problem that confronting the Nigerian Civil Service is the lack of ___.

objectives

In the pre-industrial period, ____________ was practiced by various part of the world including Africa

management

Management is also seen as a process demanding the performance of ______________ function

specific

job specification specifies____________ requirements and list qualifications both physical and mental necessary to perform the job properly

personal

______ is referred to as the father of the social system approach to organisation.

V. Pareto

Not all people can manage ______________

effectively

____are the monetary measurements.

cost standards

___factors which originate from the nature of the job itself can create job satisfaction.

Motivator

There is a class relationship between the ______________ school and the decision theory school

mathematical

Organisation is second in the ___________ of functions exercised by management

role (www.puredu.net)
(www.puredu.net) (www.puredu.net) 10/10

Gilbreth believed that there was one best way that required _______________ motion

last

The__consults with his subordinates on proposed actions encourages participation from them.

democratic leader

_____________ are people who are primarily responsible for the achievmeent of organizational goals

managers

The main pre - occupation was what to do in order to increase _____________ productivity

employee

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.

autocratic leader

____ requires technical skill and conceptual ability.

Art

Arts requires___________ skills and conceptual ability

technical

To a student management is an academic _____________

discipline

The fourteen principles of management cover all aspects of _______________

management

In the pre-industrial period, ____________ was practiced by various part of the world including Africa

management (www.puredu.net)
(www.puredu.net) (www.puredu.net) BUS106
10/10
To a student management is an academic _____________

discipline

__ are rather seen as best fundamental or general truth on which other truths depend.

Principles

job specification specifies____________ requirements and list qualifications both physical and mental necessary to perform the job properly

personal

One of the major advantages of the ____________ revolution is that it gave birth to accelerated rate of resources accumulation

industrial

____ requires technical skill and conceptual ability.

Art

The __________ principles of management were advocated by Henri Fayol\'s

First

Arts requires___________ skills and conceptual ability

technical

The entrepreneur was forced by competition to engage in ______________ performance

crude

To get _________________ put in their best efforts the manager has to understand people their emotional, physical and interllectual needs

people

Decision theory school group believes in _____________ decision making

rational (www.puredu.net)
(www.puredu.net) (www.puredu.net) BUS106
10/10
___factors involve working conditions and can trigger dissatisfaction,if inadequate.

Hygiene

The entrepreneur was forced by competition to engage in ______________ performance

crude

___ involves giving a job greater scope or variety and depth.

job enrichment

The ____________ of communication must be clearly set and known to everyone

channels

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.

autocratic leader

The well - known __________ of Ghana, Mali and Songhai are kown to have had a wonderful administrative system

Kingdom

______ is referred to as the father of the social system approach to organisation.

V. Pareto

____ can be defined as getting things done through others.

Management

On the job management development can be achieved by appointing staff into __

committees

Not all people can manage ______________

effectively (www.puredu.net)
(www.puredu.net) (www.puredu.net) BUS106
6/10
Management is defined as an art by____________

C.C. NWACHUKWU (1992)

_______________ management uses the methods of science in making decision and evaluating its consequenxes

scientific

A scholarly grouping of concepts and principles creates a/an______________________

theory

Conflict of interest arises when an executive deals with a company in which_____________

it has vested interest

One of the most important impacts of principles is that it helped to promote ______________ in management

research

The effectiveness of a ___depends on how it is implemented.

plan

Marketing objectives increase sales by_____________________

25%

The systems approach to management encourages management to perceive the internal and external environmental factors as an____________whole.

integrated

Areas of management such as planning, decision making and control in the form of mathematical symbols and models is a field called_____________

operational research

Who among these authors created the chat of objectives?

C.C. NWACHUKWU (1992) (www.puredu.net)
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What Taylor and __________ postulated were based on their experience

Fayol

According to Peter Drucker (1954) a ____________ does not handle people

manager

Supervision and _________ are impossible with communication

leader

According to ____________ chase listening is the other half of talking

Stuart

Fedrick W. Taylor is often referred to as the father of __________ management

scientific

___________ are best seen as fundamental or general truth in which the other truth depends

principles

Gilbreth believed that there was one best way that required _______________ motion

last

Every organisation is _____

purposive

One of the major advantages of the ____________ revolution is that it gave birth to accelerated rate of resources accumulation

industrial

____ can be defined as getting things done through others.

Management (www.puredu.net)
Bus106 tma2 10/10

Control must be tailored to position ____
Monitor

Company ____are also part of the data
Records

In process of planning in an organizations ____ is being made
Decision

____ Distribution, expenditure pattern.
Income

Interview is used interchangeable with
Selection

The technique commonly employed by a ____
Support subordinate

In process of planning in an organizations ____ Is being made
Decision

The manager must comply with the ____
Legal

Organization can broadly be classified as
Formal/informal organization

The managerial functions of leading ____
Influencing
BUS106 TMA3 10/10

92. The _______ of any organization include: Finance, Material, Human, Information and Time resources
	Resources

93. The word ________ concerns the laying down of policies
	Administration

94. The very survival of an _______ dictates that a certain minimum profit has to be made
	Organization

95. The following are examples of different types of trainning except;
	Chairman Training

96. The _______ of any organization include: Finance, Material, Human, Information and Time resources
	Resources

97. ______________ is another criteria or rule to be observed in the process of drawing up a chart
	Line of authority

98. _____________ is aimed at calculating or predicting what is likely going to happen in the future
	Forecasting

99. Company _______ are also part of the data which have to be processed
	Records

100. The following is acriteria or rule for drawing a chart in an organization
	All of the above

101. The managerial function of leading is simply the process of ________ people so that they will contribute to the goals of the organization
	Influencing

______ is the process of transfering information from a sender to a receiver with the information being understood by the receiver
Communication

102. Flat shaped structure falls under;
Wide span of control

103. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields
monitor

104. The very survival of an _______ dictates that a certain minimum profit has to be made
organization

105. The word ________ concerns the laying down of policies
administration

106. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined
Control

107. The manager must comply with the_____ requirements for establishing and operating his business   legal

108. ________ is aimed at calculating or predicting what is likely going to happen in the future
forecasting

109. ________distribution, expenditure patterns, saving capability of consumers all affect demands
Income

110. Providing scheme of control is the responsibility of;Board of directors
Board of directors
The__consults with his subordinates on proposed actions encourages participation from them.

111.
democratic leader

Scientific management was intended to bring about a ___________ mental revolution which must occur in the mind of the workmen and management

complete

In the pre-industrial period, ____________ was practiced by various part of the world including Africa

management


Henri advocated the __________ principles of management

first

___factors which originate from the nature of the job itself can create job satisfaction.

Motivation

The well - known __________ of Ghana, Mali and Songhai are kown to have had a wonderful administrative system

Kingdom

_____________ is aimed at calculating or predicting what is likely going to happen in the future


forecasting

On the job management development can be achieved by appointing staff into __

committees

___ techiques and systems are basically the same regardless of what is being controlled

Control
======
BUS106
======

112. ____ requires technical skill and conceptual ability.

	      History

	      Science

	      Philosophy

	--->> Art

113. Every system is made up of _____

	      open system

	--->> subsystem

	      closed system

	      None on the list

114. The___climate in an industry influences the behaviour of a company.

	      policy

	--->> ethical

	      objectives

	      procedural

115. The major problem that confronting the Nigerian Civil Service is the lack of ___.

	      patience

	      policy

	--->> objectives

	      procedural

116. ____management uses the methods of science in making decisions and evaluating its consequences.

	      Behavioral

	      Human relations

	      HRM

	--->> Scientific

117. __ is one of the most important human activities that permeate all organisations.

	--->> Managing

	      Planning

	      Organising

	      None on the list

118. ____ can be defined as getting things done through others.

	--->> Management

	      Objectives

	      Organisation

	      none on the list

119. __ are rather seen as best fundamental or general truth on which other truths depend.

	      Guildline

	--->> Principles

	      Policy

	      None on the list

120. Every  organisation is _____

	      procedual

	      proactive

	--->> purposive

	      procedural

121. ___of interest occurs whenever an executive deals with a company in which it has vested interest.

	--->> Conflict

	      Dispute

	      Negotiation

	      None on the list

BUS106   NOUN EXAM



To a student management is an________________ discipline

academic


Formal leadership occurs when a person is appointed or elected as an _________ figure

122.
authority

_______________ management uses the methods of science in making decision and evaluating its consequenxes

scientific

___________ are best seen as fundamental or general truth in which the other truth depends

principles



The effectiveness of a ___depends on how it is implemented.

plan


One of the most important impacts of principles is that it helped to promote ______________ in management

research



It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________


experiment


The very survival of an _______ dictates that a certain minimum profit has to be made


organization




A ___________ leader cannot function without the authority


formal


.) The word  concerns the laying down of policies
Ans => Administration

.) Is the process of transferring information from a sender to a receiver with the information being understood by the receiver
Ans => communication

.) The manager must comply with the  requirements for establishing and operating his business
Ans => Legal

.) The essence of  lies in checking existing actions againsts some desired results which have been determined
Ans => control

.) Providing scheme of control is the responsibility of
Ans => Board or Director

.) Control must be tailored to positions, this is necessary so that the right person will  activities in their own field
Ans => monitor

.)  distribution, expenditure patterns, saving capability of consumer all effect demans
Ans => income

.) Flat shaped structure falls under
Ans => wide span of control

.)  is aimed at calculating or predicting what is likely going to happen
Ans => Forecasting

.) The very survival of an   dictate that a certain minimum profit has to be made
Ans => organization








Organization
======
BUS106 NOUN EXAM





123. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income


124. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

125. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

126. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

127. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

128. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

129. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

130. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

131. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

132. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment







133. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

134. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

135. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

136. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

137. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

138. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

139. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

140. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

BUS106 NOUN EXAM


All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human
Clear objectives make for consistency and unity of purpose and__________________
b.
direction

Decision making is fundamental in an organization whether it is small enterprise or_______________
141.
multi-national corporation

The management function of leading is simply the process of _ people so that they will contribute to the goals of the organization
Influencing

The resources of any organization include; finance, material, human, information and _
Time

10/10

Training refers to ______________ and mechanical skills
technical

The following are examples of different types of training except;
Chairman training

The management process school of thought perceives management as a process of getting things done through _________ operating in organized groups
people

The __________ principles of management were advocated by Henri Fayol\'s
First

The _____________ of empirical school is the danger of using the past to judge the present
criticism

One of the fore runners of Fedrick Taylor was__________________
Webber --> supposedly Babbage

The fourteen principles of management cover all aspects of _______________
management

_____ is the process of transfering information from a sender to a receiver with the information being understood by the receiver
Communication

The manager must comply with the_____ requirements for establishing and operating his business
legal

The management process school attempts to establish a _________________ frame work
conceptual

Gilbreth believed that there was one best way that required _______________ motion
last

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.
autocratic leader


The word ________ concerns the laying down of policies
administration

____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver
Communication

The manager must comply with the_____ requirements for establishing and operating his business
legal

The essence of ___________ lies in checking existing actions againsts some desired results which have been determined
Control

Providing scheme of control is the responsibility of;
Board of directors

Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields
monitor

_______ distribution, expenditure patterns, saving capability of consumers all affect demands
Income

Flat shaped structure falls under;
Wide span of control

_____________ is aimed at calculating or predicting what is likely going to happen in the future
Forecasting

The very survival of an _______ dictates that a certain minimum profit has to be made
organization

Managing is one of the most important human activities that _____________________ all organization
permeate

A good ____________ must know the concepts and principles of management
manager

There are special areas of management that are not subject to the ____________ of science
rigours

It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________
experiment

To a student management is an________________ discipline
academic

Management is the __________ or direciton of people towards organizational objectives
guidance

_______________ management uses the methods of science in making decision and evaluating its consequenxes
scientific

A principle describe a _____________ or what should be done if something else happen
relationship

One of the most important impacts of principles is that it helped to promote ______________ in management
research

___________ are best seen as fundamental or general truth in which the other truth depends
principles

Arts requires___________ skills and conceptual ability
technical

It could be argued that the empirical school is ____________ to the management process
identical

Human relations school believes that effective use of human relationship will aid management in realising the organizational ___________
goals

___________ places emphasis on the understanding of employee by management
human relation

Not all people can manage ______________
effectively

To get _________________ put in their best efforts the manager has to understand people their emotional, physical and interllectual needs
people

_____________ are people who are primarily responsible for the achievmeent of organizational goals
managers

There is a class relationship between the ______________ school and the decision theory school
mathematical

Management is also seen as a process demanding the performance of ______________ function
specific

Decision theory school group believes in _____________ decision making
rational

There is no human endeavour that does not require proper_______________ for its proper functioning
management

Managing is one of the most important human activities that _____________________ all organization
permeate

___ techiques and systems are basically the same regardless of what is being controlled
Control

The__consults with his subordinates on proposed actions encourages participation from them.
democratic leader

___factors which originate from the nature of the job itself can create job satisfaction.
Motivator

On the job management development can be achieved by appointing staff into __
committees

___factors involve working conditions and can trigger dissatisfaction,if inadequate.
Hygiene

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.
autocratic leader

The__uses his power very little,if at all,giving subordinates ahigh degree of independence in their operations.
free-rein leader

___ involves giving a job greater scope or variety and depth.
job enrichment

____are the monetary measurements.
cost standards

______ is referred to as the father of the social system approach to organisation.
V. ParetoManaging is one of the most important human activities that _____________________ all organization
permeate

A good ____________ must know the concepts and principles of management
manager

There are special areas of management that are not subject to the ____________ of science
rigours

It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________
experiment

To a student management is an________________ discipline
academic

Management is the __________ or direciton of people towards organizational objectives
guidance

_______________ management uses the methods of science in making decision and evaluating its consequenxes
scientific

A principle describe a _____________ or what should be done if something else happen
relationship

One of the most important impacts of principles is that it helped to promote ______________ in management
research

___________ are best seen as fundamental or general truth in which the other truth depends
principles

Arts requires___________ skills and conceptual ability
technical

It could be argued that the empirical school is ____________ to the management process
identical

Human relations school believes that effective use of human relationship will aid management in realising the organizational ___________
goals

___________ places emphasis on the understanding of employee by management
human relation

Not all people can manage ______________
effectively

To get _________________ put in their best efforts the manager has to understand people their emotional, physical and interllectual needs
people

_____________ are people who are primarily responsible for the achievmeent of organizational goals
managers

There is a class relationship between the ______________ school and the decision theory school
mathematical

Management is also seen as a process demanding the performance of ______________ function
specific

Decision theory school group believes in _____________ decision making
rational

There is no human endeavour that does not require proper_______________ for its proper functioning
management

Managing is one of the most important human activities that _____________________ all organization
permeate

___ techiques and systems are basically the same regardless of what is being controlled
Control

The__consults with his subordinates on proposed actions encourages participation from them.
democratic leader

___factors which originate from the nature of the job itself can create job satisfaction.
Motivator

On the job management development can be achieved by appointing staff into __
committees

___factors involve working conditions and can trigger dissatisfaction,if inadequate.
Hygiene

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.
autocratic leader

The__uses his power very little,if at all,giving subordinates ahigh degree of independence in their operations.
free-rein leader

___ involves giving a job greater scope or variety and depth.
job enrichment

____are the monetary measurements.
cost standards

______ is referred to as the father of the social system approach to organisation.
V. Pareto

The management process school of thought perceives management as a process of getting things done through _________ operating in organized groups
people

Taylor advocated placing _________________ on a piece work in order to encourage them to earn more
workers

Gilbreth believed that there was one best way that required _______________ motion
last

One of the major advantages of the ____________ revolution is that it gave birth to accelerated rate of resources accumulation
scientific

The management process school attempts to establish a _________________ frame work
conceptual

The __________ principles of management were advocated by Henri Fayol\'s
First

The _____________ of empirical school is the danger of using the past to judge the present
criticism

The entrepreneur was forced by competition to engage in ______________ performance
crude

It could be argued that the empirical school is ____________ to the management process
identical

Taylor believed that each worker was motivated by ______________ need
financial

Taylor advocated placing _________________ on a piece work in order to encourage them to earn more
workers

One of the major advantages of the ____________ revolution is that it gave birth to accelerated rate of resources accumulation
scientific

The entrepreneur was forced by competition to engage in ______________ performance
crude

It could be argued that the empirical school is ____________ to the management process
identical

Taylor believed that each worker was motivated by ______________ need
financial

The main pre - occupation was what to do in order to increase _____________ productivity
employee

The well - known __________ of Ghana, Mali and Songhai are kown to have had a wonderful administrative system
Kingdom

In the pre-industrial period, ____________ was practiced by various part of the world including Africa
management

Scientific management was intended to bring about a ___________ mental revolution which must occur in the mind of the workmen and management
complete

Scientific management was intended to bring about a ___________ mental revolution which must occur in the mind of the workmen and management
complete

Fedrick W. Taylor is often referred to as the father of __________ management
scientific

George Elton _________ is from Austraila
mayo

Henri advocated the __________ principles of management
fourth

The first principles of management were advocated by _____________ and geologist
French engineer

The word ________ concerns the laying down of policies
administration

The essence of ___________ lies in checking existing actions againsts some desired results which have been determined
Control

Providing scheme of control is the responsibility of;
Board of directors

Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields
monitor

_______ distribution, expenditure patterns, saving capability of consumers all affect demands
Income

Flat shaped structure falls under;
Wide span of control

_____________ is aimed at calculating or predicting what is likely going to happen in the future
Forecasting

The very survival of an _______ dictates that a certain minimum profit has to be made
organization

___ techiques and systems are basically the same regardless of what is being controlled
Control

The__consults with his subordinates on proposed actions encourages participation from them.
democratic leader

___factors which originate from the nature of the job itself can create job satisfaction.
Motivator

On the job management development can be achieved by appointing staff into __
committees

___factors involve working conditions and can trigger dissatisfaction,if inadequate.
Hygiene

The__uses his power very little,if at all,giving subordinates ahigh degree of independence in their operations.
free-rein leader

___ involves giving a job greater scope or variety and depth.
job enrichment

____are the monetary measurements.
cost standards

______ is referred to as the father of the social system approach to organisation.
V. Pareto

Control must be tailored to position ____
Monitor

Company ____are also part of the data
Records

In process of planning in an organizations ____ is being made
Decision

____ Distribution, expenditure pattern.
Income

Interview is used interchangeable with
Selection

The technique commonly employed by a ____
Support subordinate

In process of planning in an organizations ____ Is being made
Decision

The manager must comply with the ____
Legal

Organization can broadly be classified as
Formal/informal organization

The managerial functions of leading ____
Influencing

142. _______ distribution, expenditure patterns, saving capability of consumers all affect demands
	marketing
Answer:	Income
	Information
	High income

143. Providing scheme of control is the responsibility of;
	Emplyees
	Management
Answer:	Board of directors
	Middlemen

144. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields
	process
Answer:	monitor
	controlling
	influence

145. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined
	Planning
Answer:	Control
	Organizing
	Management

146. Flat shaped structure falls under;
	Narrow span of control
	Big span of control
Answer:	Wide span of control
	Small span of control

147. The manager must comply with the_____ requirements for establishing and operating his business
	compliance
	registration
	company
Answer:	legal

148. _____________ is aimed at calculating or predicting what is likely going to happen in the future
Answer:	forecasting
	planning
	controlling
	management

149. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver
	Messaging
Answer:	Communication
	Texting
	Internet



16. The effectiveness of a ___depends on how it is implemented.

	      system

	      Department

	--->> plan

	      none on the list

17. ____ is the basic to all managerial functions

	--->> Planning

	      Organising

	      Unity of command

	      Decision making

18. An individual, who gets the thing done is a ____.

	      leader

	--->> manager

	      director

	      organiser

19. Some business problems arise due to failing on the ___ grounds.

	      management

	      managing

	--->> ethical

	      decision

20. ____deals with a qualitaive and quantitative aspect of manpower in terms of placement.

	      Planning

	--->> Organising

	      unity of command

	      none on the list

21. The ____is a  vehicle for the implementation of a plan.

	--->> system

	      management

	      communication

	      information

22. The ___could be formal or informal.

	      business

	--->> Orrganisation

	      Enterprise

	      business letter

23. ___is a process of breaking an enterprise into smaller groups and levels.

	--->> Departmentation

	      Staffing

	      Centralisation

	      decentralisation

24. ___ normally has a network of goals, objectives and targets.

	      Business

	      Management

	      Enterprise

	--->> Organisation

25. The functions of a___ can be a line or a staff.

	      system

	--->> Department

	      plan

	      none on the list


2) __ are rather seen as best fundamental or general truth on which other truths depend.

	      Guildline

	--->> Principles

	      Policy

	      None on the list

3) Every system is made up of _____

	      open system

	--->> subsystem

	      closed system

	      None on the list

4) ___of interest occurs whenever an executive deals with a company in which it has vested interest.

	--->> Conflict

	      Dispute

	      Negotiation

	      None on the list

5) ____management uses the methods of science in making decisions and evaluating its consequences.

	      Behavioral

	      Human relations

	      HRM

	--->> Scientific

6) __ is one of the most important human activities that permeate all organisations.

	--->> Managing

	      Planning

	      Organising

	      None on the list

7) ____ can be defined as getting things done through others.

	--->> Management

	      Objectives

	      Organisation

	      none on the list

8) ____ requires technical skill and conceptual ability.

	      History

	      Science

	      Philosophy

	--->> Art

9) The___climate in an industry influences the behaviour of a company.

	      policy

	--->> ethical

	      objectives

	      procedural

10) The major problem that confronting the Nigerian Civil Service is the lack of ___.

	      patience

	      policy

	--->> objectives

	      procedural

11) Every  organisation is _____

	      procedual

	      proactive

	--->> purposive

	      procedural



bus106


Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human


Try Another Search
BUS106   NOUN EXAM



To a student management is an________________ discipline

academic


Formal leadership occurs when a person is appointed or elected as an _________ figure

150.
authority

_______________ management uses the methods of science in making decision and evaluating its consequenxes

scientific

___________ are best seen as fundamental or general truth in which the other truth depends

principles



The effectiveness of a ___depends on how it is implemented.

plan


One of the most important impacts of principles is that it helped to promote ______________ in management

research



It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________


experiment


The very survival of an _______ dictates that a certain minimum profit has to be made


organization




A ___________ leader cannot function without the authority


formal


.) The word  concerns the laying down of policies
Ans => Administration

.) Is the process of transferring information from a sender to a receiver with the information being understood by the receiver
Ans => communication

.) The manager must comply with the  requirements for establishing and operating his business
Ans => Legal

.) The essence of  lies in checking existing actions againsts some desired results which have been determined
Ans => control

.) Providing scheme of control is the responsibility of
Ans => Board or Director

.) Control must be tailored to positions, this is necessary so that the right person will  activities in their own field
Ans => monitor

.)  distribution, expenditure patterns, saving capability of consumer all effect demans
Ans => income

.) Flat shaped structure falls under
Ans => wide span of control

.)  is aimed at calculating or predicting what is likely going to happen
Ans => Forecasting

.) The very survival of an   dictate that a certain minimum profit has to be made
Ans => organization








Organization
The__consults with his subordinates on proposed actions encourages participation from them.

151.
democratic leader

Scientific management was intended to bring about a ___________ mental revolution which must occur in the mind of the workmen and management

complete

In the pre-industrial period, ____________ was practiced by various part of the world including Africa

management


Henri advocated the __________ principles of management

first

___factors which originate from the nature of the job itself can create job satisfaction.

Motivation

The well - known __________ of Ghana, Mali and Songhai are kown to have had a wonderful administrative system

Kingdom

_____________ is aimed at calculating or predicting what is likely going to happen in the future


forecasting

On the job management development can be achieved by appointing staff into __

committees

___ techiques and systems are basically the same regardless of what is being controlled

Control
Question:  is as old as human organization

Answer:Management



Question: The scientific management school placed special emphasis upon

Answer:production



Question:  is often referred to as the father of Scientific Management

Answer:Frederick W Taylor



Question: Gilbreth is known for his work on time and  studies

Answer:motion



Question: The first principles of management were advocated by a French engineer and

Answer:geologist



Question: The Management Theory Jungle has classified the major schools of management into   broad areas

Answer:six



Question:  are people who are primarily responsible for the achievement of organizational goals

Answer:Managers



Question:   is defined as getting things done through others

Answer:Management



Question: Concepts are the corner stone for the development of and theory

Answer: principles



Question: Goals can be differentiated between official and  goals

Answer:operative



Question: Good organizational goals help in policy  and administration

Answer:formulation



Question: A typical employee goals can be divided into  main groups

Answer:two



Question: One of the major problems confronting the Nigerian Civil Service is the lack of clear

Answer:objectives



Question:  of interest arises when an executive deals with a company in which it has vested interest

Answer:Conflict



Question:  making is one of the most crucial activities of management

Answer:Decision



Question: A decision process is not completed until it is

Answer:implemented



Question:  is one of the highly sought after talents in management

Answer:Creative



Question:  is concerned with directing the human efforts towards organisational goal achievement

Answer:Direction



Question: Directing and comprise the managerial function of guiding overseeing and leading people

Answer:leading



Question: Schneider  refers to organisational climate as the entire internal environment of the organisation

Answer:1975



Question: The mathematical techniques used as aid to decision making are often called

Answer:Operations Research



Question:  theory is often called waiting line theory

Answer:Queuing



Question: Planning has been defined previously as one of the five major functions of management

Answer:five



Question: The most comprehensive definition of planning is given by

Answer:Cyril LHudson



Question: The best known definition of management control is given by Anthony in

Answer:1965



Question: indicate the financial expenditures involved per unit of activity

Answer:Cost standards



Question:  can be expressed as a ratio of net profits to sales

Answer:Profitability



Question: Formal organisation can be seen as a direct opposite of  organisation

Answer:informal



Question: the process of passing information and understanding from one person to another

Answer:Communication



Question: Communication may be divided into two namely  and written

Answer:oral



Question: The scientific management school place special emphasis upon

Answer:production



Question:  of enterprises was also practised by the Babylonians

Answer:management



Question: Industrial revoculion was the period of  awakeing

Answer:intellectual



Question: Scientific management was intended to bring about complete mental

Answer:revolution



Question: Management is as old as  organisation

Answer:human



Question: Taylors principles of management include all except

Answer:classification of programmes



Question: Fredrick W Taylor is often referred to as the of scientific management

Answer:father



Question: The pharahoahs are managers who planned organised and direct the work of the

Answer:surbodinates



Question: In the preindustrial period was practised by various parts of the world

Answer:management



Question: A well documented and properly organised management system was that of the

Answer:Egyptians



Question: Management can be define as getting thing done through

Answer:organizing



Question: Art is the imposition of

Answer:pattern



Question:  are best seen as fundamental or general truth on which other truths depend

Answer:principles



Question: There are special areas of management that are not subjected to rigous of

Answer:science



Question: Gilbreth is known for his work on time and studies

Answer:motion



Question: Management can be define as a team or group of individuals in

Answer:Organisation



Question: The first principles of management were advocated

Answer:Henry Fayol



Question: It could be argued that the  school is identical to the management process school

Answer:empirical



Question:  spend his life working on the difference engine

Answer:Babbage



Question: Decision theory schools believe in decision making

Answer:rational
152. _____________ is aimed at calculating or predicting what is likely going to happen in the future


forecasting

153. Company _______ are also part of the data which have to be processed

records

154. The _______ of any organization include: Finance, Material, Human, Information and Time resources.

resources

155. The following is a criteria or rule for drawing a chart in an organization

All of the above

156. The very survival of an _______ dictates that a certain minimum profit has to be made


organization

157. The word ________ concerns the laying down of policies

administration

158. The resources of any organization include: Finance, Material, Human, Information and ________.


Time resources

159. The managerial function of leading is simply the process of ________ people so that they will contribute to the goals of the organization

influencing

160. ______________ is another criteria or rule to be observed in the process of drawing up a chart

Line of Authority

161. The following are examples of different types of training except;

Chairman training









































1, _______ distribution, expenditure patterns, saving capability of consumers all affect demands

.........Income


26. Organization can broadly be classified as
..........Formal/Informal organization


27. In the process of planning in an organization ________is being made

.........decision


28. The managerial function of leading is simply the process of ________ people so that they will contribute to the goals of the organization


influencing

29. In the process of _______ in an organization, decision is being made

......
Planning

30. The technique commonly employed by a leader to have human relations between him and his employees are;

......Support subordinates



31. Company _______ are also part of the data which have to be processed


records


9, Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

monitor


Interview is used interchangeable with;

............Selection



10, The manager must comply with the_____ requirements for establishing and operating his business

legal
























bus 106 10/10
m. Wide span of control
n. Communication
o. Board of directors
p. Income
q. Monitor
r. Legal
s. Control
t. Forecasting
u. Administration
v. Organization
[3/4, 2:17 PM] NE
Bus106 TMA 1 10/10

w. ) The word  concerns the laying down of policies
Ans => Administration
x. ) Is the process of transferring information from a sender to a receiver with the information being understood by the receiver
Ans => communication
y. ) The manager must comply with the  requirements for establishing and operating his business
Ans => Legal
z. ) The essence of  lies in checking existing actions againsts some desired results which have been determined
Ans => control
aa. ) Providing scheme of control is the responsibility of
Ans => Board or Director
bb. ) Control must be tailored to positions, this is necessary so that the right person will  activities in their own field
Ans => monitor
cc. )  distribution, expenditure patterns, saving capability of consumer all effect demans
Ans => income
dd. ) Flat shaped structure falls under
Ans => wide span of control
ee. )  is aimed at calculating or predicting what is likely going to happen
Ans => Forecasting
ff. ) The very survival of an   dictate that a certain minimum profit has to be made
Ans => organization
FBQ1: _____ used a mathematical equation to arrive at the conclusion that only a narrow span of management would make for efficient management.
Answer: Graicunas

FBQ2: ________deals with the number of subordinates that an executive can manage effectively.
Answer: Span of control

FBQ3: ________promotes delegation and supervision with predictable results.
Answer: Specialization

FBQ4: One of the major factors that promote decentralization is task  ________
Answer: specialization

FBQ5: Effective _________helps managers to spend less time on specific technical activities
Answer: delegation

FBQ6: The principle of _________is sometimes violated where functional authority exists.
Answer: unity of command

FBQ7: _______means answering for the use of your formal authority by someone else.
Answer: Accountability

FBQ8: Duncan ____has indicated that econometric models are used in predicting the student enrolment at universities.
Answer: 1975

FBQ9: _______models are more complex in nature and involve interrelationships of many variables tied together in a quantitative model.
Answer: Causal

FBQ10: ________are the changes that have taken place as a result of economic booms or depressions.
Answer: Cyclical variations

FBQ11: _____is based on the assumption that past activities are good indication of future activities.
Answer: Time series analysis

FBQ12: ______converts company objectives into individual goals and as a result, it contributes to higher levels of job satisfaction.
Answer: MBO

FBQ13: _________is the last in Maslow’s hierarchy of needs.
Answer: Self-actualisation Need

FBQ14: ________ is that energizing force that induces or compels and maintains behaviour.
Answer: Motivation

FBQ15: ______method is ideal for both employee training and management development.
Answer: Coaching

FBQ16: _______ is the determination of the job to which an accepted candidate is to be assigned and his assignment to that job.
Answer: placement

FBQ17: _______ seek to evaluate the applicant’s ability to apply knowledge judiciously in solving a problem.
Answer: Judgement test

FBQ18: _______ is to solicit necessary information from the prospective applicants to assess the applicant’s suitability to the job.
Answer: Preliminary interview

FBQ19: _________ techniques are the means or media by which management contacts prospective employees or provides necessary information.
Answer: Recruitment

FBQ20: _______ is a process of choosing the right candidate from a pool of applicants.
Answer: Selection

FBQ21: ________include mental dexterity, analytical ability, intuitive judgement, alertness and ability to concentrate.
Answer: Psychological characteristics

FBQ22: ______ is a personal power acquired by expertise in a field or area.
Answer: Expert Power

FBQ23: _________ conducted extensive studies in this area and developed a scale to identify different types of leaders.
Answer: Fiedler’s contingency theory

FBQ24: The __________of leadership has suffered from lack of conclusiveness and over-simplifications.
Answer: trait theory

FBQ25: ________ leadership occurs when a person is appointed or elected as an authority figure.
Answer: formal

FBQ26: Leadership is an integral part of management and plays a vital role in _______operations.
Answer: managerial

FBQ27: ________ is often referred to as the father of Scientific Management.
Answer: Abraham Maslow

FBQ28: The Management Theory Jungle has classified the major schools of management into _________ broad areas.
Answer: six

FBQ29: Goals can be differentiated between official and ________ goals.
Answer: Operative

FBQ30: One of the major problems confronting the Nigerian Civil Service is the lack of clear ________.
Answer: objectives

FBQ31: A decision process is not completed until it is _____________.
Answer: implemented

FBQ32: __________ is one of the highly sought after talents in management.
Answer: Creative

FBQ33: ___________theory is often called waiting-line theory.
Answer: Queuing

FBQ34: The best known definition of management control is given by Anthony in _________
Answer: 1965

FBQ35: Employment opportunity is created by _____
Answer: Organisations

MCQ1: ________ is as old as human organization.
Answer: Management

MCQ2: The scientific management school placed special emphasis upon _________
Answer: Production

MCQ3: ________ is often referred to as the father of Scientific Management.
Answer: Abraham Maslow

MCQ4: Gilbreth is known for his work on time and _______ studies.
Answer: Motion

MCQ5: The first principles of management were advocated by a French engineer and ______
Answer: Geologist

MCQ6: The Management Theory Jungle has classified the major schools of management into _________ broad areas.
Answer: Six

MCQ7: ________ are people who are primarily responsible for the achievement of organizational goals.
Answer: Managers

MCQ8: _________is defined as getting things done through others.
Answer: Management

MCQ9: Concepts are the corner stone for the development of________ and theory.
Answer: Principles

MCQ10: Goals can be differentiated between official and ________ goals.
Answer: Operative

MCQ11: Good organizational goals help in policy ________ and administration.
Answer: Formulation

MCQ12: A typical employee goal can be divided into _____ main groups.
Answer: Two

MCQ13: One of the major problems confronting the Nigerian Civil Service is the lack of clear ________.
Answer: Objectives

MCQ14: _______ of interest arises when an executive deals with a company in which it has vested interest.
Answer: Conflict

MCQ15: _______ making is one of the most crucial activities of management.
Answer: Decision

MCQ16: A decision process is not completed until it is _____________.
Answer: Implemented

MCQ17: __________ is one of the highly sought after talents in management.
Answer: Creative

MCQ18: ________ is concerned with directing the human efforts towards organisational goal achievement.
Answer: Direction

MCQ19: Directing and ________comprise the managerial function of guiding, overseeing and leading people.
Answer: Leading

MCQ20: Schneider ________ refers to organisational climate as the entire internal environment of the organisation.
Answer: 1975

MCQ21: The mathematical techniques used as aid to decision making are often called ______
Answer: Operations Research

MCQ22: ___________theory is often called waiting-line theory.
Answer: Queuing

MCQ23: Planning has been defined previously as one of the -------- major functions of management.
Answer: Five

MCQ24: The most comprehensive definition of planning is given by _________
Answer: Cyril L. Hudson

MCQ25: The best known definition of management control is given by Anthony in _________
Answer: 1965

MCQ26: __________indicate the financial expenditures involved per unit of activity.
Answer: Cost standards

MCQ27: ______ can be expressed as a ratio of net profits to sales.
Answer: Profitability

MCQ28: Formal organisation can be seen as a direct opposite of ________ organisation.
Answer: Informal

MCQ29: _________the process of passing information and understanding from one person to another.
Answer: Communication

MCQ30: Communication may be divided into two namely _____ and written.
Answer: Oral

MCQ31: Employment opportunity is created by _____
Answer: Organisations

MCQ32: ______ should help in formulating and articulating ethical norms as part of their social responsibility.
Answer: Nigeria

MCQ33: The areas in which business organisations should play a ________ role in Nigeria are limitless.
Answer: Prominent

MCQ34: _______ tend to increase with increasing task certainty.
Answer: Spans

MCQ35: Mass-production companies have a higher span of management than ________firms.
Answer: Process

Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human
======
BUS106
======

gg. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

hh. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

32. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

jj. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

kk. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

ll. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

mm. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

nn. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

oo. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

pp. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

Text File Report


Created by using CSVFileView

qid	crscode	qdescr	opta	optb	optc	optd	qa	tmano	lecnp	udate	facid

13188	
BUS106	 	is as old as human organization.	
	
	
Management	
	
C	
TMA1	TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06


13189	

BUS106	The scientific management school placed special emphasis upon	

production	

	

	
	

A	

TMA1	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:51:35	

F06

13190	
BUS106	 	is often referred to as the father of Scientific Management.	
	
	
	
Frederick W. Taylor	
D	
TMA1	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06

13191	
BUS106	Gilbreth is known for his work on time and	 studies.	
	
motion	
	
	
B	
TMA1	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06


13192	

BUS106	The first principles of management were advocated by a French engineer and	

geologist	

	

	
	

A	

TMA1	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:51:35	

F06



13193	


BUS106	The Management Theory Jungle has classified the major schools of management into
	broad areas.	


	


	


	


six	


D	


TMA1	

TENF06S0202:Sam
Baba Tende	

2018-
09-27
15:51:35	


F06


13194	

BUS106	 	are people who are primarily responsible for the achievement of organizational goals.	

	

	

Managers	

	

C	

TMA1	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:51:35	

F06

13195	
BUS106	 	is defined as getting things done through others.	
	
Management	
	
	
B	
TMA1	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06


13196	

BUS106	Concepts are the corner stone for the development
of	and theory.	

	

	

	

principles	

D	

TMA1	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:51:35	

F06

13197	
BUS106	Goals can be differentiated between official and
	goals.	
	
	
operative	
	
C	
TMA1	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06

13208	
BUS106	Good organizational goals help in policy
	and administration.	
	
	
formulation	
	
C	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06

13209	
BUS106	A typical employee goals can be divided into	main groups.	
	
two	
	
	
B	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06




13210	

BUS106	One of the major problems confronting the Nigerian Civil Service is the lack of clear	.	

	

	

	

objectives	

D	

TMA2	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06


13211	

BUS106	 	of interest arises when an executive deals with a company in which it has vested interest.	

Conflict	

	

	
	

A	

TMA2	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06

13212	
BUS106	 	making is one of the most crucial activities of management.	
	
Decision	
	
	
B	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06

13213	
BUS106	A decision process is not completed until it is
	.	
	
	
implemented	
	
C	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06

13214	
BUS106	 	is one of the highly sought after talents in management.	
	
	
	
Creative	
D	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06


13215	

BUS106	 	is concerned with directing the human efforts towards organisational goal achievement.	

	

Direction	

	

	

B	

TMA2	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06


13216	

BUS106	Directing and
	comprise the managerial function of guiding, overseeing and leading people.	

	

	

p	

leading	

D	

TMA2	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06


13217	

BUS106	Schneider
	refers to organisational climate as the entire internal environment of the organisation.	

1975	

	

	

	

A	

TMA2	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06


13238	

BUS106	The mathematical techniques used as aid to decision making are often called  		
	

	
Operations Research	

	

C	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06

13239	
BUS106	

theory is often called waiting-line theory.	
	
	
Queuing		
C	
TMA3	TENF06S0202:Sam
Baba Tende	2018-
09-27
15:57:13	
F06


13240	

BUS106	Planning has been defined previously as one of the five major functions of management.	

	

	

five	

	

C	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06


13241	

BUS106	The most comprehensive definition of planning is given by	
	
	
	
Cyril L.Hudson	

D	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06


13242	

BUS106	The best known definition of management control is given by Anthony in  		

1965	

	

	

	

A	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06




13243	

BUS106	 	indicate the financial expenditures involved per unit of activity.	
	

Cost standards	
	
	

B	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06

13244	
BUS106	 	can be expressed as a ratio of net profits to sales.	
	
	
	
Profitability	
D	
TMA3	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:57:13	
F06


13245	

BUS106	Formal organisation can be seen as a direct opposite of


organisation.	

	

informal	

	

	

B	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06


13246	

BUS106	 	the process of passing information and understanding from one person to another.	

	

Communication	

	

	

B	

TMA3	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:14	

F06

13247	
BUS106	Communication may be divided into two namely	and written.	
oral	
	
	
	
A	
TMA3	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:57:14	
F06



BUS106 List of Questions

Latex formatted questions may not properly render

Q1 The major organizational goals exclude????????????????????????..
staff lay-off

Q2 A good goal makes the organization while helping to exploit the opportunities to minimize the impact of the
?????????????????????.
risks

Q3 Good goals must possess the following qualities except?????????????????????????????????
they must not specify period of achievement.

Q4 ??????????????????????????????. goal could be implicit and require explicit formulation before they could be realised.
Organisation

Q5 What managers do in organizations includes ?????????????????????
all of the above

Q6 Management function is identical in all ????????????????????????. whether it is a profit-making organization or a "non-profit-making organization.
formal organizations

Q7 In a general sense, the human being is a complex system made up of sub- systems such as the circulatory system, the auditory system, the locomotive system, and so on.
False
Q8 ???????????????????????? is known as the father of scientific management.
Frederick W. Taylor

Q9 A scholarly grouping of concepts and principles creates a??????????????????????????????
theory

Q10 ????????????????????????.. are abstractions formed fromgeneralizations.
Concepts

Q11 Fayol, after more than???????????????????????????.. of practical business experience drewup his principles of management.
40 years

Q12 ???????????????????????????.. are best seen as fundamental or general truth on which other truths depend.
Principles

Q13 A successful manager blends experience with ????????????????????????.. in order to achieve a desired result.
science

Q14 ???????????????????????????.. attempts through systematic procedure to establish the relationships between variables and the underlying principles.
Science

Q15 ????????????... is an imposition of order on chaos.
Art

Q16 Gilbreth believed that there was one best way which was believed to be the way that required the
????????????????????????
least motion

Q17 Taylor???s principles of management could be summarized as ???????????????????????????..
a and b above

Q18 A manager will find it difficult to enforce quality or engage in??????????????????????????????. .
overall profit

Q19 A ?????????????????????.. is the selection of alternative course of action fromavailable alternatives in order to achieve a given objective.
decision

Q20 A ???????????????????????????. could be seen as a group of people assembled together to take action on an administrative task.

committee
Q21 What determines whether a decision is to be made by an individual or group is the type of decision to be made, and the importance of the decision to the immediate attainment of ?????????????????????????????? .
organisational objectives

Q22 A decision process is not completed until it is ???????????????????????????????????? .
implemented

Q23 An entrepreneur may decide in the circumstance to select the alternative that ???minimises his risk or involves ???minimum regret??? or gives himoptimum result in the ???????????????????????????????????????. .
short-run

Q24 Stages in Decision Making includes ?????????????????????????????????????????????
all of the above

Q25 A decision made with full knowledge of the occurrence of an event is said to be decision
??????????????????????????????.  .
under certainty

Q26 The course of action that maximises the final desirability is the???????????????????????????????????????.. .
rational decision

Q27 If a quantitative method is used, the value of each alternative is?????????????????????????????????.. .
computed

Q28 In business, there are absolutely no right or wrong decisions but
????????????????????????????????????..   .
intelligent choices

Q29 Factors Determining Unethical Decisions????????????????????????..
Formal company policy

Q30 The King???s affairs were so well organised and so efficiently and effectively run that it was devoid of
?????????????????????????????????????????????   .
bureaucracy


FBQ1: _____ used a mathematical equation to
arrive at the conclusion that only a narrow span of management would make for efficient management.
Answer: Graicunas

FBQ2: ________deals with the number of
subordinates that an executive can manage effectively.
Answer: Span of control

FBQ3: ________promotes delegation and
supervision with predictable results. Answer: Specialization

FBQ4: One of the major factors that promote

decentralization is task Answer: specialization

________


FBQ5: Effective _________helps managers to
spend less time on specific technical activities Answer: delegation

FBQ6: The principle of _________is sometimes
violated where functional authority exists. Answer: unity of command

FBQ7: _______means answering for the use of
your formal authority by someone else. Answer: Accountability

FBQ8: Duncan ____has indicated that
econometric models are used in predicting the

student enrolment at universities. Answer: 1975

FBQ9: _______models are more complex in nature
and involve interrelationships of many variables tied together in a quantitative model.
Answer: Causal

FBQ10: ________are the changes that have taken
place as a result of economic booms or depressions.
Answer: Cyclical variations

FBQ11: _____is based on the assumption that
past activities are good indication of future activities.
Answer: Time series analysis

FBQ12: ______converts company objectives into
individual goals and as a result, it contributes to higher levels of job satisfaction.
Answer: MBO

FBQ13: _________is the last in Maslow’s
hierarchy of needs.
Answer: Self-actualisation Need

FBQ14: ________ is that energizing force that
induces or compels and maintains behaviour. Answer: Motivation

FBQ15: ______method is ideal for both employee
training and management development.

Answer: Coaching

FBQ16: _______ is the determination of the job to
which an accepted candidate is to be assigned and his assignment to that job.
Answer: placement

FBQ17: _______ seek to evaluate the
applicant’s ability to apply knowledge judiciously in solving a problem.
Answer: Judgement test

FBQ18: _______ is to solicit necessary information
from the prospective applicants to assess the applicant’s suitability to the job.
Answer: Preliminary interview

FBQ19: _________ techniques are the means or
media by which management contacts prospective employees or provides necessary information.
Answer: Recruitment

FBQ20: _______ is a process of choosing the right
candidate from a pool of applicants. Answer: Selection

FBQ21: ________include mental dexterity,
analytical ability, intuitive judgement, alertness and ability to concentrate.
Answer: Psychological characteristics

FBQ22: ______ is a personal power acquired by

expertise in a field or area. Answer: Expert Power

FBQ23: _________ conducted extensive studies in
this area and developed a scale to identify different types of leaders.
Answer: Fiedler’s contingency theory

FBQ24: The __________of leadership has suffered
from lack of conclusiveness and over-simplifications.
Answer: trait theory

FBQ25: ________ leadership occurs when a
person is appointed or elected as an authority figure.
Answer: formal

FBQ26: Leadership is an integral part of management and plays a vital role in
_______operations. Answer: managerial

FBQ27: ________ is often referred to as the father
of Scientific Management. Answer: Abraham Maslow

FBQ28: The Management Theory Jungle has classified the major schools of management into
_________ broad areas. Answer: six

FBQ29: Goals can be differentiated between

official and	goals.
Answer: Operative

FBQ30: One of the major problems confronting the Nigerian Civil Service is the lack of clear
________.
Answer: objectives

FBQ31: A decision process is not completed until
it is	_.
Answer: implemented

FBQ32: __________ is one of the highly sought
after talents in management. Answer: Creative

FBQ33: ___________theory is often called
waiting-line theory. Answer: Queuing

FBQ34: The best known definition of management

control is given by Anthony in Answer: 1965

_________


FBQ35: Employment opportunity is created by
_____
Answer: Organisations

MCQ1: ________ is as old as human organization.
Answer: Management

MCQ2: The scientific management school placed
special emphasis upon _________

Answer: Production

MCQ3: ________ is often referred to as the father
of Scientific Management. Answer: Abraham Maslow

MCQ4: Gilbreth is known for his work on time and
_______ studies. Answer: Motion

MCQ5: The first principles of management were

advocated by a French engineer and Answer: Geologist

______


MCQ6: The Management Theory Jungle has classified the major schools of management into
_________ broad areas. Answer: Six

MCQ7: ________ are people who are primarily
responsible for the achievement of organizational goals.
Answer: Managers

MCQ8: _________is defined as getting things
done through others. Answer: Management

MCQ9: Concepts are the corner stone for the development of________ and theory.
Answer: Principles

MCQ10: Goals can be differentiated between

official and	goals.
Answer: Operative

MCQ11: Good organizational goals help in policy
________ and administration. Answer: Formulation

MCQ12: A typical employee goal can be divided
into _____ main groups.
Answer: Two

MCQ13: One of the major problems confronting the Nigerian Civil Service is the lack of clear
________.
Answer: Objectives

MCQ14: _______ of interest arises when an
executive deals with a company in which it has vested interest.
Answer: Conflict

MCQ15: _______ making is one of the most
crucial activities of management. Answer: Decision

MCQ16: A decision process is not completed until
it is	_.
Answer: Implemented

MCQ17: __________ is one of the highly sought
after talents in management. Answer: Creative

MCQ18: ________ is concerned with directing the
human efforts towards organisational goal achievement.
Answer: Direction

MCQ19: Directing and ________comprise the
managerial function of guiding, overseeing and leading people.
Answer: Leading

MCQ20: Schneider ________ refers to
organisational climate as the entire internal environment of the organisation.
Answer: 1975

MCQ21: The mathematical techniques used as

aid to decision making are often called Answer: Operations Research

______


MCQ22: ___________theory is often called
waiting-line theory. Answer: Queuing

MCQ23: Planning has been defined previously as one of the -------- major functions of management. Answer: Five

MCQ24: The most comprehensive definition of
planning is given by _________
Answer: Cyril L. Hudson

MCQ25: The best known definition of management control is given by Anthony in

_________ Answer: 1965

MCQ26: __________indicate the financial
expenditures involved per unit of activity. Answer: Cost standards

MCQ27: ______ can be expressed as a ratio of
net profits to sales. Answer: Profitability

MCQ28: Formal organisation can be seen as a

direct opposite of Answer: Informal

________ organisation.


MCQ29: _________the process of passing
information and understanding from one person to another.
Answer: Communication

MCQ30: Communication may be divided into two
namely _____ and written.
Answer: Oral

MCQ31: Employment opportunity is created by
_____
Answer: Organisations

MCQ32: ______ should help in formulating and
articulating ethical norms as part of their social responsibility.
Answer: Nigeria

MCQ33: The areas in which business

organisations should play a Nigeria are limitless.
Answer: Prominent

________ role in


MCQ34: _______ tend to increase with increasing
task certainty. Answer: Spans

MCQ35: Mass-production companies have a

higher span of management than Answer: Process

________firms.


FBQ1:Inbusinessthereareabsolutelynorightorwrong decisions but 	choices
Answer:*Intelligent*

FBQ2: 	organizationisasoldas management
Answer:*Human*

FBQ3: 	alsopracticedmanagementinthepre – industrial period
Answer:*Africa*

FBQ4: In order to increase employee productivity	waswhattodo Answer: *Preoccupation*

FBQ5:Thefatherof scientific management is Fredrick
W. 	--
Answer:*Taylor*

FBQ6:Thefirstprincipleofmanagementasadvocated by 	
Answer:*HenriFayol*

FBQ7: 	basicelementswasidentifiedby frank in on – the – job motions
Answer:*17*

FBQ8:ThearticleofHaroldKoontzisthemanagement theory of 	
Answer:*Jungle*

FBQ9:Anorderlystudyofjobrequirementis Answer: *Job analysis*
FBQ10: 	isanothernameforfree–reign leadership
Answer:*Laissez–faire*

FBQ11:Whichleadershipoccurswhenapersonis appointed as an authority figure
Answer:*Formal*

FBQ12: The process of passing information and understandingfromonepersontoanotherisknownas

Answer:*Communication*

FBQ13: The physical from of though which can be experienced and understood by senses is 	Answer: *Message*

FBQ14: 	suggested that people’s interpretationsofcommunicationscoincideswiththe

alreadyheldbenefitsandattitude Answer: Donald Robert

FBQ15: Theonlywaytoascertainastohowthe message was interpreted is	
Answer:*Feedback*

FBQ16: The other half of taking is 	
Answer:*Listening*

FBQ17:Inthehierarchyoffunctionsexercisedby management organization is 	
Answer:*Second*

FBQ18:Gettingthingsdonethroughothersisknownis Answer: *Management*
FBQ19: 	isseenas agroupof peopleby other
Answer:*Management*

FBQ20: 	overseethefunctionofotherpeoplewho must work in subordinate position
Answer:*Managers*

FBQ21: The 	schoolandthedecisiontheory school has a class relationship

Answer:*Management*

FBQ22: Whenthedemandsofataskonhandare ambiguous 	is needed
Answer:*Directive*

FBQ23: 	isoneof thefore– runnersof Taylor
Answer:*Babbage*

FBQ24:Anexcellentsourceforhighlydisciplined veterans is 	
Answer:*Militarycentres*

FBQ25: 	isreferredtoastechnicaland mechanical skills
Answer:*Training*

FBQ26:Theprocessofchoosingtherightcandidate from a pool of applicant is termed 	
Answer:*Selection*

FBQ27:Themostobvioussourceswhichareprimarily within the organisation itself is 	
Answer:*Internalsources*

FBQ28: 	was intended to bring about a completementalrevolutionwhichmustoccurinthe

mindsoftheworkmenandmanagement Answer: *Scientific management*

FBQ29: 	isinfluencedbyfinalselection Answer: *Past experience*

FBQ30: 	isblamedwhenitsorganization fails
Answer:*Management*

FBQ31:Oneofthemostimportanthumanactivitiesthat permeate all organisation is 	
Answer:*Managing*

FBQ32: 	ensuresthat everymemberofthe group contributes his best
Answer:*Managing*

FBQ33: People who are primarily responsible for the achievement of organizational goals are 	Answer: *Managers*

FBQ34: In making decisions and evaluating its consequences scientific management uses 	method
Answer:*Science*

FBQ35:Thecontent usedinbusinesstohighlightthe

inter–relationshipbetweenthefunctionalareaof management is 	
Answer:The*systems*

FBQ36:Humanrelationsschoolplacesemphasisonthe understanding of employees by 	
Answer:*Management*

FBQ37: 	theoryschoolbelievesinrational decision making
Answer:*Decision*

FBQ38:Asuccessfulmanagerblendsexperience with
	inordertoachieveadesiredresult Answer: *Science*

FBQ39:Mostresearchesinmanagementdealswith
	toestablishvalidityandreliability Answer: *Facts*

FBQ40: A scholarly grouping of concepts and 	
creates a theory Answer:*Principles*

FBQ41:Managementtheoryattempttopresentina concerted manner loose facts about 	behaviour in organization
Answer:*Human*

FBQ42:Manager’sfunctionsaremanagerial,not


Answer:*Technical*

FBQ43: 	controlorganizationactivities Answer: *Managers*

FBQ44:Whenthegoalsoftheindividualandthegoals of the organisations are the same, we have goal

Answer:*Congruency*

FBQ45:Advertisingwillstressqualityandserviceand not 	
Answer:*Price*

FBQ46:Therewasatimeeconomistsbelievedthatthe sole purpose of any business was to maximize 	Answer: *Profit*

FBQ47: Organizations and 	functionbetter when there is goal cogency
Answer:*Individual*

FBQ48: The aim of the civil service is to 	
Answer: *Serve the people*

FBQ49:ThepunishmentfortheviolationofNilesinan organisation is 	
Answer:*Immediatedismissal*

FBQ50: The ethical standards of a company are determined by the ethical standards of the 	Answer: *Executive*

MultipleChoiceQuestions(MCQs):
MCQ1: 	managementschoolplacedspecial emphasis upon production
Answer:Scientific

MCQ2: 	advocatedplacingworkersona piece of work in order to encourage them to earn more Answer: Fedrick

MCQ3:Thegatheringanalysisandcodificationofallrule of thumb and data existing in business is one of 	principles of management
Answer:Taylor

MCQ4: Taylor was 	forhislackof humanitarian concept
Answer:applauded

MCQ5: 	spenthislifeworkingonthe difference engine

Answer:Charles

MCQ6:Divisionoflabourandspecializationisoneof contributions to the field of management
Answer:Frank

MCQ7:	was production was used to illustratethebenefitsofdivisionoflabourpointingout the savings in time
Answer:Needle

MCQ8: 	stressedtheneedforreplacingmanual operations by automatic machinery
Answer:Taylor

MCQ9: 	is knownfor his workontimeand motion studies
Answer:Taylor

MCQ10:WhosebookischeaperbytheDozen Answer: Taylor

MCQ11:Thefollowingarepartofthebasicelementsin on the job motions except
Answer:Sea

MCQ12: 	developed a flow chart which highlightedtheneedforbreakinganoperationintounit

and steps Answer:Frank

MCQ13:Thefirstprinciplesofmanagementwere advocated by 	
Answer:Frank

MCQ14: 	isolatedasetofprinciplesthat have been thought to managers and students of management
Answer:Fayol

MCQ15: Human relations was advocated by 	
Answer:Babbage

MCQ16: Unity of command is one of 	
principleofmanagement Answer: Fayol

MCQ17: Themanagement theoryjungleisthearticleof


Answer:Harold

MCQ18: 	groupedHenriandTaylortothe same school
Answer:Mayo

MCQ19: 	schoolconcentratesonthe

interpersonalrelationshipbetweenmanagersand workers
Answer:Decisiontheory

MCQ20: 	schoolclassifythemselvesas management scientist
Answer:Mathematical

MCQ21: 	isoneofthemostimportant human activities that permeate all organization Answer: Managing

MCQ22: It is the 	responsibilitytoensurethat every member of the group contributes his best Answer: C.EO

MCQ23: 	are people who are primarily responsiblefortheachievementoforganizationalgoals Answer: Employees

MCQ24:Anyorganizationthatfailstorealizeits objective often blames it on 	
Answer:employees

MCQ25: 	istheindividualtoprovidethedynamic force or direction
Answer:Manager

MCQ26: 	isdefinedastheco-ordinatorofall the resources of an organization through the process of planning, organizing, directing and controlling in order to attain organizational objectives
Answer:Manage

MCQ27: 	requiretechnicalskilland conceptual ability
Answer:Art

MCQ28: 	must possestheknow–how in order to create a desired object
Answer:Scientist

MCQ29:Scientificmanagementusesthemethodsof
	inmakingdecisionsandevaluatingits consequences
Answer:hypothesis

MCQ30: 	concept is often used in businesstohighlighttheinterrelationshipbetweenthe functional areas of management.
Answer:Thesystem

MCQ31:Oneofthefollowingisanexampleofasystem Answer: Motor car

MCQ32:Forthe salesdepartmentto meetdelivery

datespromisedtocustomers.Ithastorelyonthe
	target Answer:Maintaining

MCQ33:Thesuccessofanysystemdependsonthe relationship between the system and its	Answer: Production

MCQ34:Themajororganizationalgoalsincludethe following except 	
Answer:Survival

MCQ35: 	is the selection of alternative courseofactionfromavailablealternativesinorderto achieve a given objective
Answer:Selecting

MCQ36:Decisionmakingcanbeclassifiedintothe following except	
Answer:Decisionmakingundercertainty

MCQ37: 	decisionrequiresthedecision maker to acquire a thorough understanding of the problem in order to make an intelligent choice
Answer:Rational

MCQ38:Thefinalselectionisinfluencedbythedecision maker’s	

Answer: Further experience

MCQ39:Factorsinvolvedinsecuringacceptance include the following except	
Answer:Effectivecommunication

MCQ40: 	couldbeseenasagroupofpeople assembled together to take action on an administrative task
Answer:Management

MCQ41:Thesuccessorfailureofacommitteeinmost instanc3s depends on the 	
Answer:Manager

MCQ42:Thesuccessorfailureofacommitteeinmost instanc3s depends on the 	
Answer:Manager

MCQ43: All organizations with more than 	empkoyeeshaveoneformofcommitteeortheother Answer: 30

MCQ44: A 	committeeisonethatcomes up with new ideas, new approaches and new ways of doing thing
Answer:Creative

MCQ45: 	systemisusedindetermining the optimal utilisation of a facility in an intermittent service
Answer:Queeningtheory

MCQ46: 	isameansof ensuringthat the important organizational objctives are accomplished as an when desired
Answer:Selecting

MCQ47: Long range plans are more risk due to 	
environment Answer:Social

MCQ48:Intermediateplanningcoversatimeframeof about 	
Answer:2monthsto6years

MCQ49: 	isanactionplanwhichsetsthe direction that a company will be taking
Answer:Decision

MCQ50:Thefollowingarethetypesofstrategiesexcept Answer: Stability


Bfn209
Balance sheet shows the present _______ of a business. (Statement)
Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)
BUS205
___________ is a means by which power is acquired, exercised and sustained. (Communication)
Non __________ income is used to buy items to meet basic needs. (Discretionary)
_________motivation also causes you to be loyal to certain shops and companies. (Patronage)
__________ is a book in which particulars of all monies received or paid are recorded. (Cash Account)
___________ is the value that products and sellers place on goods or services. (Price)
Social __________ is owed by individuals and not by organizations. (Obligation)
_______ researchers also gather information from a wider group of people. (Market)
The _______ is the total amount supplied by owner of the business or owners equity or net worth. (Capital)
__________ must be attractive. (Packaging)
________include the resources possessed by the firm. (Assets)
BUS207
Verbal communication is one way for people to communicate ______________. (Face to face)

The actual origin of ___________ is subject to considerable speculation(Language)
If a language is about communicating with signals, voice, sounds, gestures, or written symbols, can animal communications be considered as a ___________? (Language)
The basis of _________________ is the interaction between people. (Communication)
Animals do not have a __________ form of a language, but use a language to communicate with each another. (Written)
Some words may be imitative of natural __________, but others may come from expressions of emotion, such as laughter or crying. (Sounds)
Some of the key components of verbal communication are sound, writing, speaking, and ______________. (Language)
A dialogue is a reciprocal conversation between _______ or more entities, (TWO)
As meaning is assigned to words, language develops, which leads to the ___________ of speaking. (Development)
At birth, most people have vocal cords, which produce __________. (Sounds)
BUS106
It could be argued that the _______ school is identical to the management process school. (Empirical)
Art is the imposition of __________. (Pattern)
___________ are best seen as fundamental or general truth on which other truths depend.(Pinciple)
Gilbreth is known for his work on time and _________studies. (Motion)
Decision theory schools believe in _________decision making. (Rational)
The first principles of management were advocated. (Henry fayol)
There are special areas of management that are not subjected to rigous of(Science)

spend his life working on the difference engine (Babbage)

Management can be define as getting thing done through (Organising)

Management can be define as a team or group of individuals in _________(Organisation)

ECO122

Exports are determined by factors outside the control of the ___ economy (Home)

The two components of import demand is fixed, and at the same time it varies with (Income)

The ____ are guided by the level of income, price level, taste and fashion of the foreign consumers (Spending Decision)

In technical terms, _____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade (Gain from trade)

Gains from trade are the net benefits to agents from allowing an increase in voluntary ______ with each other (Trading)
Import demand changes as______ changes (Income)
Because export is exogenous while a part of import is an increasing function of income, net exports are_____ related to national income/national output (Negatively)
_____ depend on the spending decisions of domestic consumers (Import)
When income rises, the aspect of _____ rises as well and when income falls, it falls (Import demand)
Exports depend on spending decisions made by foreign ____ or overseas firms that purchase domestic goods and services (Consumer)

ECO231

The demand for goods and services is __ (Direct Demand)

The prices paid to the factors of production are called (All of the above)

Reason for the study of factor pricing are (All of the above)

The demand of factor of product can also be Joint Demand because for producer to produce orange he/she has to demand for all the _(factors of production)

The factors needed in the production process are also known as (Production Service)

The factor pricing is concerned with the determination of prices of services of factors of ______ (Production)

To produce goods and services, ____ need the services of factors of production, like land, labour, capital, and entrepreneur (FIRMs)

The theory of distribution is an attempt to explain how income is distributed among the factors of __ (Production)

The employer of factors of production only uses the factors in the production of goods and services to be finally sold in the ____(Product Market)

When workers are engaged or capital are borrowed, it does not offer any direct satisfaction to the ____ (Producer)

The production concept holds that consumers will value products that are highly (Affordable)

Another important role is the discovery of entrepreneurial talent (Agree)

Marketing's first role is to (Stimulate Aggregate potential demand)

Consumerism is an organized movement of citizens and government to fight wars on poor products(Disagree)

Commodity approach in marketing focuses on (Classes of products)

The major goal of an organization to an extent is (Profit)

The product concept holds that consumers value products that offer (High Quality)

Marketing concept holds that organization must first create to satisfy (Needs and want)
One of the significance of marketing is to provide (impulse purchase)

The purpose of marketing concept is to help organizations (Achieve its goal

BFN203

According Gardon (2014), there is a remarked difference between capital gains investing and the game of speculation

The_________ is a document which sets broad parameters for taxation and ancillary matters connected with taxation (National tax Policy

investing is the art of buying and selling an asset for a profit (Capital Gain Investing)

__ is a technique that reduces risk by allocating investments among various financial instruments, industries and other categories (Diversification)

some or all of a loan when the borrower is ins (Credit Insurance)

The steps involved in personal financial planning process Include all of the following except________ (Goal Division)

are options to purchase common stock at a specified price up to a specified date (Warrants)

Is a type of tax (PAYE)

Owning a current and savings account have the same requirements (False)

Ent203

The achievement needs theory was developed by (McCelland)

Which of the following emphasized the risk aspect of entrepreneurship (Cantillon)

Which of the following a pattern of venture capital development (Mid Stage)

Entrepreneurial process include the following stages except? (Profit Planning)

(New Monnies)

VC stands for (Venture Capital)

Which of the following will not support in-house entrepreneurial development in organizations (Bickering)

CIT201
The software that uses the power and speed of a computer machine to perform some mathematical calculations or simulate some real life situations is called a ___ software. (Modeling)

________________________________________

________________________________________

________________________________________

________________________________________

________________________________________
________________________________________

________________________________________

________________________________________






TMA3                  7/10

91. The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

92. The income approach to the calculation of GDP measures GDP in terms of who receives

None of the Option

93. Merchant banks are set up primarily to cater for the needs of _______

,,,,,,,,,,,,corporate and institutional debtors

94. Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year

final goods and services

95. Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____

Export minus Government import

96. Consumption, Savings and Investment is the theory of ___

National Income accounting

97. ______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms

,,,,,,,,,,,,,,Value added

98. The Central Bank of Nigeria, which was statutorily independent of the federal government in _____

1968

99. The following except one is the formular of Per Capita Income

,,,,,,,,,,,National Income/Total Population

100. Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.

individual private businesses and public sector



























Eco122 tma1 10/10 done

1, was only used as a methodological approach to economic problems

Ans Macro

2, The following person was well known in economics with the general theory of income, output and employment in the wake of the Great Depression of 1929.

ans John Maynard Keynes

The Physiocrats adopted __ in the 18th century, in their table Economique to show the circulation of wealth

Ans macro

4, __ was first used in economics by Ragner Frisch in scientific approach

Ans macro

5, __ can be define as the behavior of the whole (aggregate) economy or economic systems rather than individual economic markets.

ans Macroeconomics

6, The most vital differences between micro and macroeconomics is rather than focusing on individual households and firms, it examines conditions within the __ as a whole

ans economy

7, Another name for __ is the net product

ans circulation of wealth

8, __ was originated with the mercantilists in the __ and 17th centuries

Ans: Macro, 16th

9, The following except one is not the goal of macroeconomics

Ans Price Control

10, ___ means is a situation in which everyone that want to work gets work

Ans Full employment
Question:  is an institution which accepts deposits makes business loans and offers related

Answer:Commercial bank



Question: At the end of  the banking system consisted of the Central Bank of Nigeria forty two commercial banks and twenty four merchant banks

Answer:1988



Question: In  several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

Answer:1952



Question: British colonial officials established the West African Currency Board in 1912 to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to

Answer:British pounds sterling



Question: No banking legislation existed  until 1952

Answer:Nigeria



Question: In 1892 Nigerias first bank the  was established

Answer:African Banking Corporation



Question: A financial institution is a financial intermediary that accepts deposits and channels those deposits into lending activities either directly by loaning or indirectly through

Answer:capital markets



Question: Transactionary motive is the motive of holding

Answer:money



Question: The following are not functions of money except

Answer:store of value



Question: The following are the characteristics of money except

Answer:Specding ability



Question: Increase in  results in increase in economic welfare

Answer:per capita income



Question: The economic welfare cannot be said to have increased if the increase in national income is due to exploitation of

Answer:labour



Question: If the change in were due to change in prices it would be difficult to measure the real change in economic welfare

Answer: national income



Question: According to AC Pigou an economist assert that there is a close relationship between economic  and national income because both of them are measured in terms of money

Answer:welfare



Question:  attaches great importance to economic welfare because welfare is a very wide term

Answer:AC Pigou



Question: The average propensity to save is an economic term that refers to the proportion of income that is saved rather than  on goods and services

Answer:spent



Question: The income not spent on goods and services for current  is called savings

Answer:consumption



Question:  is defined as the ratio of the change in consumption to the change in income that necessitated it

Answer:Marginal propensity to consume



Question: In a geometric function the  is actually the slope of the consumption function

Answer:MPC



Question:  consumption represents consumption when income is zero

Answer:Autonomous



Question: Per capita income is defined as the ratio of a countrys income to its population while  is defined as the ratio of a countrys GDP to the population of the country

Answer:GDP per capita



Question:  income does not include the income earned abroad

Answer:Domestic



Question: The income of citizens of a country living abroad is termed factor  from the rest of the world

Answer:income



Question: Mr Tunde Bakare a shoe marker charges N200000 for each shoes that he makes He pays his shop apprentice N20000 per shoe made in return for sweeping the floor and other chores For each shoe made what is the total contribution of Mr Tunde bakares and her apprentice to GDP

Answer:N2000



Question: National income accounting is a term used in economics to refer to the  system that a national government uses to measure the level of the countrys economic activity in a given time period

Answer:book keeping



Question: In an open economy which imports raw materials and other intermediate products at high prices the cost of production of  will always rise

Answer:domestic goods



Question: Rising and falling prices are both bad because they bring unnecessary  to some and undue advantage to others

Answer: loss



Question: One of the goals of  policy is to stabilize the price level

Answer:macroeconomics



Question: In the  the physiocrats adopted it in their table Economique to show the circulation of wealth

Answer:18th century



Question: Macroeconomics studies the behavior of the whole  or economic systems rather than individual economic markets which is the domain of Microeconomics

Answer:aggregate economy



Question:  is the motive of holding money

Answer:Transactionary motive



Question: Commercial bank is an institution which accepts  makes business loans and offers related

Answer:deposits



Question: British colonial officials established the West African Currency Board in  to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to British pounds sterling

Answer:1912



Question: At the end of 1988 the banking system consisted of the  forty two commercial banks and twenty four merchant banks

Answer:Central Bank of Nigeria



Question: A  is a financial intermediary that accepts deposits and channels those deposits into lending activities either directly by loaning or indirectly through capital markets

Answer:financial institution



Question: No banking legislation existed Nigeria until

Answer:1952



Question: In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a  to facilitate economic development

Answer:central bank



Question: In  Nigerias first bank the African Banking Corporation  was established

Answer:D: 1892



Question: Import demand changes as changes

Answer:income



Question:  depend on the spending decisions of domestic consumers

Answer:Imports



Question: The  are guided by the level of income price level taste and fashion of the foreign consumers

Answer:spending decisions



Question: In technical terms  is the increase of consumer surplus  plus producer surplus  from lower tariffs  or otherwise liberalizing trade

Answer:Gain from trade



Question: The two components of import demand is fixed and at the same time it varies with

Answer:income



Question: When income rises the aspect of  rises as well and when income falls it falls

Answer:import demand



Question: Because export is exogenous while a part of import is an increasing function of income net exports are related to national incomenational output

Answer:negatively



Question: Exports depend on spending decisions made by foreign  or overseas firms that purchase domestic goods and services

Answer:consumers



Question: Gains from trade are the net benefits to agents from allowing an increase in voluntary  with each other

Answer:trading



Question: Exports are determined by factors outside the control of the  economy

Answer:home
Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading

Macroeconomics studies the behavior of the individual economic market. True or False? ___________

101. False*
________ was the economist who developed a general theory of income, output and employment.

102. Keynes*
The term “macro” was first used in economics by Ragner Frisch in the year ___________

103. 1933*
Full employment means the absence of __________ unemployment.

104. Involuntary*
One of the goals of macroeconomics policy is to stabilize the price level. True or False? ___________

105. True*
Macroeconomics is the study of ___________ of an economy as a whole

106. Aggregates*
___________ is the summation of all the values of goods and services produced in a country by the nationals and non-nationals.

107. GDP*
Goods and services produced in the previous years are included in the GDP calculation. True or False? _______________

108. False*
Final good or service is the end product of the ___________ process.

109. Production*
A special type of good that is difficult to class as intermediate or final is a ___________ good

110. Capital*
Social security such as unemployment insurance, scholarships are called ___________ payment

111. Transferred*
Problem of ___________ counting is one of the problems of computation of GDP

112. Double*
The income of citizens of a country living abroad is termed ___________ income from the rest of the world

113. Factor*
Net National Product is Gross National Product minus ___________

114. Depreciation*
Domestic income is ___________ income minus net income earned from abroad

115. National*
__________ income is personal income minus direct taxes.

116. Disposable*
Real gross domestic product is nominal gross domestic product that has been adjusted for _____________

117. Inflation*
________ GDP is the GDP measured in the current market prices of the goods and services.

118. Nominal*
Real GDP is called GDP at ___________ prices

119. Constant*
A particular year when prices are normal or stable is called the _______________ year

120. Base*
National income account provides a basis for national economic policies. True or False ___________________

121. True*
National income is GDP less net factor income from ___________

122. Abroad*
When import is subtracted from export, we have ___________ exports

123. Net*
When consumer expenditure is subtracted from the amount of disposable income, it is referred to as ___________

124. Savings*
The current governor of Central Bank of Nigeria is ___________

125. Godwin Emefiele*
___________ is the use of goods and services by households

126. Consumption*
The lender of last resort and financial adviser to the government is ___________ bank

127. Central*
In the consumption function, C = b0 + b1Y ; b0 is referred to as ___________ consumption

128. Autonomous*
b1 in the consumption function is known as ___________ propensity to consume

129. Marginal*
Autonomous consumption represents consumption when income is ___________

130. Zero*
___________ propensity to consume refers to the percentage of income that is spent on goods and services rather than on savings

131. Average*
Government policy is not a determinant of savings. True or False ___________

132. False*
Level of national income is a determinant of investment. True or False ______________

133. True*
___________ coincidence of want is a problem associated with trade by barter

134. Double*
The ease with which money can be carried is referred to as ___________

135. Portability*
Money as a ___________ of exchange is the most important function of money

136. Medium*
Money as a unit of ___________ makes it possible to measure the prices of goods and services

137. Account*
The demand for liquidity for day to day transactions is known as ___________ motive for liquidity.

138. Transactionary*
___________ motive is the demand for liquidity for unforeseen circumstances

139. Precautionary*
A financial institution which accepts deposits, makes business loans, and offers related services is a ___________ bank

140. Commercial*
Non-residential investment is not part of gross private domestic investment. Agree or Disagree ___________________

141. Disagree*
___________ investment is the value of investment in buildings, machinery, before taking away depreciation

142. Gross*
National defence, provision of social amenities , policing, internal and external securities are all part of ___________ spending

143. Government*
Value added tax is an example of ___________ tax

144. Indirect*
Personal income tax, capital gains tax are examples of ___________ tax

145. Direct*
Government consumption and investment are part of government spending but excludes ___________ payments.

146. Transfer*
Government ___________ is money received by a government

147. Revenue*
___________ is a compulsory levy imposed by the government on individuals and business firms

148. Tax*
A situation where tax rate reduces as the size of income increases is ___________ tax

149. Regressive*
Budget ___________ is a status of financial health in which expenditures exceed revenue

150. Deficit*
Macroeconomics studies the behavior of which economic systems

whole (aggregate)

Macroeconomics examines

All of the options

Objectives of macroeconomics does not include

Individual economic market

When the real per capita income of a country increases over a long period of time is known as

economic growth

One of the Keynesian concept of full employment involves

Reduction in the real wage rate

___ is the study of individual economic units of an economy

Microeconomics

The major determinant of macroeconomic problems is

Income

Who developed macroeconomics as a distinct method in economic theory?

John Keynes

The summation of all the values of goods and services produced in a country by the nationals and non-nationals is

Gross domestic product (GDP)

Which of the following is not a problem of national income determination?

None of the options

The followings is not included in the calculation of GDP except

current year production

Domestic income does not include:

Income earned abroad

The ratio of a country’s income to its population is known as ___

Per capita income

Personal income minus direct tax is known as

Disposable income

The importance of national income accounting does not include

For poverty alleviation

There are ___ basic approaches to the measurement of GDP

Three (3)

After subtracting depreciation from GNP, what we get is called

Net national product (NNP).

Aggregate consumption in any economy depends on a number of factors except

Capital accumulation

The determinants of savings does not include

Social cost

Saving is income

Not spent

With disposable income of N20,000 and spending of N8,000. What is APC?

0.4

Components of investment includes

All of the options

Which of the following is not a determinant of investment

None of the options

The exchange of good for goods and services for services is called

Barter system

One of these is not a stage in the evolution of money

Standard money

Who formulated the equation of exchange?

Irvin Fisher

The following are functions of money except

Unit of Measurement

The first money deposit bank in Nigeria was established in the year

1891

One of these is not a function of the central bank

Acceptance of deposits

Precautionary demand for money will be directly influenced by

A person’s level of income

One of the following is not a problem associated with the barter system

None of the options

Holding cash for the purchase of bond and securities is referred to as

Speculative demand for money

The first bank in Nigeria was known as

African Banking Corporation

The primary function of commercial bank is to

Accept deposits from every class

Banks that were licensed before Nigeria’s independence in 1960

First generation banks

The expenditure of households on goods and services is referred to as

Personal consumption expenditure

Gross private domestic investment includes

All of the options

Reasons for the downward sloping of the Aggregate Demand Curve

All of the options

The components of aggregate expenditure does not include

Capital accumulation

Factors that lead to increase in government spending excludes.

Political stability

Reasons why government levy taxes exclude

To punish the citizens

One of these is not a disadvantage of international trade

Technical knowledge

Trade between two countries is known as

Bilateral trade

Three approaches of measuring national income account are

Income, output, expenditure

Reasons for increased government expenditure in Nigeria does not include

Good governance

Compulsory levy by government to the citizens is known as

Taxation

The proponent of the theory of Comparative Cost Advantage

David Ricardo

Comparative advantage doctrine is based on the assumptions except

Unequal cost of production

Which arm of the government implements the budget

The Executive

Roles of government budgets exclude

Advisory
Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading
Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.

exogenous; negatively



The problem of ________ arises when applying the Output expenditure

double counting


The following except one is the formular of Per Capita Income

National Income/ Total Goods and services

...........National Income/Total Population


Merchant banks are set up primarily to cater for the needs of ___

corporate organization

Consumption, Savings and Investment is the theory of ___

National Income accounting

A _____ company is one which transacts the business of banking which means the accepting for the purpose of lending all investment of deposits of money from the public

banking


Is not one of the characteristics of budget

Proportionality

Financial institution is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through _____

capital markets




British colonial officials established the West African Currency Board in 1912 to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to ____

British pounds sterling





______ gave an alternative definition of full employment at another place in his general theory publication

Piguo

An aggregation of an individual\'s income with disregard of direct taxes is referred to as _____

Aggregate income

A summation of all the values of goods and services produced in a country by the nationals and non-nationals of that country is referred to as ____

GDP

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by

Depreciation


The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product

non-nationals

Which of the following is not a problem of national income determination?

Problem of paid services

Approaches to measuring GDP are ___ in number

3

The following are components of investment except ____

Marginal investment

An example of fiat money is

Paper naira

Money and wealth are the same thing

TRUE




























































If the level of income is 2000, planned export demand equal marginal propensity to import is 0.4 and exogenous import is 340. Calculate the net export.
None of Options??

A public good is associated with ______
Economy of scale??



Mathematically, MPC + MPS = ____
1

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

The meaning of _____ in macroeconomics is disposable income
None of Options

The following except one is the formular of Per Capita Income
National Income/Total Population

Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year
final goods and services

Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____
import expenditure minus net exports

The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

Consumption, Savings and Investment is the theory of ___
National Income accounting

The Central Bank of Nigeria, which was statutorily independent of the federal government in _____
1968

______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms
Value added

Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.
individual private businesses and public sector

The income approach to the calculation of GDP measures GDP in terms of who receives
None of the Option

Merchant banks are set up primarily to cater for the needs of _______
None of the Option

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others
prices

To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages
effective demand

One of the goals of ______ policy is to stabilize the price level
macroeconomics

______ gave an alternative definition of full employment at another place in his general theory publication
Piguo!

_____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level
Macroeconomics

The term “macro” was first used in economics by _____ in 1933
Ragner Frisch

John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____
1929

Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets
aggregate economy

According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money
income

Piguo attaches great importance to economic _____ because welfare is a very wide term.
welfare



Macroeconomics problems was dealt with vigorously by ______ economists
Sismondi and Marx

Given S = -bo + BY, where -bo in the model means__________
autonomous

An example of closed economy is____________
Y = C + I

In the early 1933, macro was used in economics by _________
Ragner Frisch

The following economists execept one is not part of those that developed the theory of money and general prices ____________
Smith

The meaning of macro means __________
Aggregate Economy

The prolem of double counting or multiple counting arises when applying the ______ method to etimate national income
Output expenditure

In the 18th century the ________ economist makes use of macroeconomics
physiocrat

Consumption is the use of goods and services by __________
household

The following except one is not the goal of macroeconomics ____________
Full Production

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

An increase in price expectations shifts the long-run aggregate supply curve to the ___.
Right

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

According to the wealth effect, aggregate demand slopes downward (negatively) because
lower prices increase the value of money holdings and consumer spending increases.

Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply curve
is vertical because an equal change in all prices and wages leaves output unaffected.

A tax is a ____ levy imposed by the government on individuals and business firms as it relates to the incomes, consumption, and production of goods and services
compulsory

Is not one of the characteristics of budget
Proportionality

Given AD = C + I + G + NX , where C = 520 + 0.6Y; I = 120; and G = 200; NX = 12 and T = 150, what is the equilibrium output?
1800

Economists refer to fluctuations in output as the \
Unpredictable

Stagflation occurs when the economy experiences
rising prices and falling output

Which of the following would not cause a shift in the long-run aggregate supply curve?
An increase in price expectations

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'

Which of the following is not a problem of national income determination?
Problem of paid services

If the banks in an economy operate with a reserve ratio of 20 per cent then the money multiplier is:
5

If Obaka buys a newly built retirement home, this transaction would affect
Investment

The use of goods and services by household is referred to as ____
Consumption

Which of the following is not a function of money?
Hedge against inflation

An example of fiat money is
Paper naira

Reserve requirements that may be imposed on an economy’s banks by its central bank specify that banks’ reserves must be a minimum percentage of their
Deposits

Which of the following policy actions by a central bank is likely to increase the money supply?
Buying government bonds in open market operations

Money and wealth are the same thing
FALSE\'

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by
Depreciation

Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of ___ of an economy as a whole.
aggregates

If a tailor buys cloth for N10,000 and thread for N1,000 and uses them to produce and sell N25,000 worth of dresses to consumers, the contribution to GDP is
N25,000

Gross Domestic Product is the sum of the market value of the
Final goods and services.

Gross Domestic Product can be measured as the sum of
Consumption, investment, government purchases, and net exports

Which of the following can be excluded from Nigeria GDP for 2020? The sale of would be
A home built in 2019 by Brains and Harmers at Lugbe and first sold in 2020.

Real GDP is measured in ________ prices while nominal GDP is measured in ________ prices.
base year; current year

An example of a transfer payment is
Unemployment benefits

Nigeria Gross Domestic Product (in contrast to Gross National Product) measures the production and income of
People and factories located within the borders of the Nigeria.

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'



151. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

152. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

153. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

154. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

155. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

156. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

157. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

158. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

159. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

160. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics



33. The ____ of aggregate demand indicates that a change in taxes will shifts the aggregate demand curve in the direction opposite to that of the change in taxes

	      demand curve

	      supply side

	--->> Keynesian analysis

	      savings curve

34. The problem of ________ arises when applying the Output expenditure

	--->> double counting

	      expenditure

	      National income

	      aggregate supply

35. The _____ are negative when there is decrease in the equilibrium GDP

	      net imports

	--->> net exports

	      investment goods

	      Gross Private Investment

36. Along a given aggregate supply curve an increase in the price level leads to an increase in aggregate output because ______

	      workers work more hours, due to the increase in the real wage

	--->> firms increase production in response to higher profits

	      workers work more hours, due to the decrease in the real wage

	      All of the Options

37. Merchant banks are set up primarily to cater for the needs of ___

	      people

	      Government

	      corporate organization

	--->> None of the Options

38. ______ is defined as the ratio of the change in consumption to the change in income that necessitated it

	      Consumption

	      Savings

	--->> Marginal propensity to consume

	      Investment

39. In a ____ not all basic needs are generally met by the Private sector

	--->> free market economy

	      economy

	      supply sector

	      None of the Options

40. The british colonial officials established the ______ in 1912

	--->> West African Currency Board

	      Nigerian bank

	      monetary authority

	      CBN

41. A sum of N5000.00 is fixed on a shoe, then the fixed tax of N5000.00 is the ________

	      direct tax

	      indirect tax

	--->> Specific tax

	      Advarolem tax

42. In ____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

	      1960

	      1966

	      1955

	--->> 1952



2) Mr Olaoluwa a foreigner buy N800 billion worth of Nigerian exports and Mrs Vivian Odishika a Nigerian buy N700 billion worth of foreign imports in a given year. Therefore, the net exports is_________

	      1Billion

	      22Billion

	      3.2Billion

	--->> None of the Options

3) ______ of import analysis shows that import are purcahses by domestic buyers of goods and services that were produced abroad

	      Investment

	--->> Macroeconomics

	      Microeconomics

	      All of the Options

4) The ______ generation banks are licensed before 1960

	--->> first

	      second

	      third

	      fourth

5) In the ______ consumption expenditure, the component of the consumption is the monthly income reportn

	      Firm's

	--->> personal

	      company's

	      overall

6) _______ is said to be the act of producing capital goods which are not for immediate use

	      Savings

	      Consumption

	--->> Investment

	      Goods and Services

7) Nigeria purchased N11 billion of gasoline fron Mali last year, but it also sold N28 billion of gasoline to Ghana last year, therefore Nigeria's net gasoline export is _________

	      44.2Billion

	      2.3Billion

	      1.5Billion

	--->> None of the Options

8) The Gross Private domestic investment is the total investment in capital by the _____

	      domestic sector

	--->> investors

	      private sector

	      Government sector

9) The motive of holding money for unforseen contingency is ______

	      Transactionary motive

	      Speculative motive

	      Unforseen motive

	--->> precautionary motive

10) In the theory of final consumption expenditure, the expenditure by resident households on the domestic territory and expenditure by resident household abroad are added together but excludes any non-resideent hoseholds' expenditure on the ______

	--->> domestic territory

	      list of consumers

	      overall expenditrure

	      None of the Options

11) The _____ measures the investment used to calculate Gross domestic product in economic measurement of a nation

	      Gross National Product

	      National investment

	      Investment of a nation

	--->> Gross Private domestic investment




1--- banking legislation

2_ banking

3-- British pounds sterling

4__ Yd

5--- 1952

6--- capital markets

7--- none of the options

8___1988

9___ deposits

10___ African Banking corporation


Book keeping system

None of the options

Gross domestice product

Price stability

Production

None of the options

None of the options

Non-nationals

Full employment

National income accounting
======
ECO122
======

71. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

72. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

73. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

74. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

75. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

76. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

77. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

78. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

79. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

80. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

______ gave an alternative definition of full employment at another place in his general theory publication

Piguo

An aggregation of an individual\'s income with disregard of direct taxes is referred to as _____

Aggregate income

A summation of all the values of goods and services produced in a country by the nationals and non-nationals of that country is referred to as ____

GDP

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by

Depreciation


The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product

non-nationals

Which of the following is not a problem of national income determination?

Problem of paid services

Approaches to measuring GDP are ___ in number

3

The following are components of investment except ____

Marginal investment

An example of fiat money is

Paper naira

Money and wealth are the same thing

TRUE
======
ECO122
======

71. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

72. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

73. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

74. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

75. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

76. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

77. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

78. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

79. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

80. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

======
ECO122
======

81. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

82. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

83. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

84. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

85. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

86. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

87. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

88. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

89. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

90. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

======
ECO122
======

91. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

92. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

93. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

94. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

95. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

96. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

97. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

98. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

99. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

100. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

======
ECO122
======

101. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

102. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

103. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

104. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

105. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

106. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

107. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

108. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

109. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

110. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

======
ECO122
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111. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

112. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

113. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

114. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

115. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

116. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

117. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

118. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

119. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

120. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

======
ECO122
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121. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

122. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

123. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

124. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

125. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

126. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

127. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

128. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

129. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

130. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

======
ECO122
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131. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

132. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

133. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

134. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

135. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

136. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

137. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

138. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

139. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

140. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

======
ECO122
======

141. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

142. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

143. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

144. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

145. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

146. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

147. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

148. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

149. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

150. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

======
ECO122
======

151. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

152. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

153. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

154. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

155. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

156. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

157. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

158. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

159. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

160. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

======
ECO122
======

161. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

162. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

163. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

164. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

165. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

166. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

167. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

168. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

169. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

170. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

======
ECO122
======

171. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

172. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

173. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

174. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

175. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

176. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

177. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

178. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

179. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

180. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

======
ECO122
======

181. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

182. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

183. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

184. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

185. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

186. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

187. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

188. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

189. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

190. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

======
ECO122
======

191. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

192. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

193. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

194. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

195. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

196. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

197. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

198. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

199. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

200. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

======
ECO122
======

201. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

202. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

203. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

204. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

205. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

206. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

207. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

208. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

209. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

210. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

======
ECO122
======

211. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

212. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

213. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

214. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

215. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

216. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

217. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

218. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

219. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

220. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

======
ECO122
======

221. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

222. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

223. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

224. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

225. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

226. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

227. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

228. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

229. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

230. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

======
ECO122
======

231. Nigeria purchased N11 billion of gasoline fron Mali last year, but it also sold N28 billion of gasoline to Ghana last year, therefore Nigeria's net gasoline export is _________

	      44.2Billion

	      2.3Billion

	      1.5Billion

	--->> None of the Options

232. The _____ measures the investment used to calculate Gross domestic product in economic measurement of a nation

	      Gross National Product

	      National investment

	      Investment of a nation

	--->> Gross Private domestic investment

233. In the ______ consumption expenditure, the component of the consumption is the monthly income reportn

	      Firm's

	--->> personal

	      company's

	      overall

234. Mr Olaoluwa a foreigner buy N800 billion worth of Nigerian exports and Mrs Vivian Odishika a Nigerian buy N700 billion worth of foreign imports in a given year. Therefore, the net exports is_________

	      1Billion

	      22Billion

	      3.2Billion

	--->> None of the Options

235. In the theory of final consumption expenditure, the expenditure by resident households on the domestic territory and expenditure by resident household abroad are added together but excludes any non-resideent hoseholds' expenditure on the ______

	--->> domestic territory

	      list of consumers

	      overall expenditrure

	      None of the Options

236. The ______ generation banks are licensed before 1960

	--->> first

	      second

	      third

	      fourth

237. _______ is said to be the act of producing capital goods which are not for immediate use

	      Savings

	      Consumption

	--->> Investment

	      Goods and Services

238. The motive of holding money for unforseen contingency is ______

	      Transactionary motive

	      Speculative motive

	      Unforseen motive

	--->> precautionary motive

239. The Gross Private domestic investment is the total investment in capital by the _____

	      domestic sector

	--->> investors

	      private sector

	      Government sector

240. ______ of import analysis shows that import are purcahses by domestic buyers of goods and services that were produced abroad

	      Investment

	--->> Macroeconomics

	      Microeconomics

	      All of the Options

======
ECO122
======

241. In a ____ not all basic needs are generally met by the Private sector

	--->> free market economy

	      economy

	      supply sector

	      None of the Options

242. A sum of N5000.00 is fixed on a shoe, then the fixed tax of N5000.00 is the ________

	      direct tax

	      indirect tax

	--->> Specific tax

	      Advarolem tax

243. Merchant banks are set up primarily to cater for the needs of ___

	      people

	      Government

	      corporate organization

	--->> None of the Options

244. The british colonial officials established the ______ in 1912

	--->> West African Currency Board

	      Nigerian bank

	      monetary authority

	      CBN

245. Along a given aggregate supply curve an increase in the price level leads to an increase in aggregate output because ______

	      workers work more hours, due to the increase in the real wage

	--->> firms increase production in response to higher profits

	      workers work more hours, due to the decrease in the real wage

	      All of the Options

246. In ____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

	      1960

	      1966

	      1955

	--->> 1952

247. The ____ of aggregate demand indicates that a change in taxes will shifts the aggregate demand curve in the direction opposite to that of the change in taxes

	      demand curve

	      supply side

	--->> Keynesian analysis

	      savings curve

248. ______ is defined as the ratio of the change in consumption to the change in income that necessitated it

	      Consumption

	      Savings

	--->> Marginal propensity to consume

	      Investment

249. The problem of ________ arises when applying the Output expenditure

	--->> double counting

	      expenditure

	      National income

	      aggregate supply

250. The _____ are negative when there is decrease in the equilibrium GDP

	      net imports

	--->> net exports

	      investment goods

	      Gross Private Investment

The following except one is the formular of Per Capita Income
National Income/Total Population

Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year
final goods and services

Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____
import export minus export

The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

Consumption, Savings and Investment is the theory of ___
National Income accounting

The Central Bank of Nigeria, which was statutorily independent of the federal government in _____
1968

______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms
Value added

Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.
individual private businesses and public sector

The income approach to the calculation of GDP measures GDP in terms of who receives
None of the Option

Merchant banks are set up primarily to cater for the needs of _______
None of the Option








1--- banking legislation

2_ banking

3-- British pounds sterling

4__ Yd

5--- 1952

6--- capital markets

7--- none of the options

8___1988

9___ deposits

10___ African Banking corporation
Economic growth is measured by the increase in the amount of goods and services in each successive period : time


...........is defined as the process whereby the real per capita income of a country increases over a long period of time: Economic growth


Rapid _ leads to urbanization and industrialization with their adverse effects on the pattern of living and environment: growth
In an which imports raw materials and other intermediate products at high prices, the cost of production of domestic goods will always rise: open economy
If the change in were due to change in prices, it would be difficult to measure the real change in economic welfare: national income
_ can be maintained by following acounter-cyclical monetary Policy: Price stability
The economic welfare cannot be said to have increased, if the increase in national income is due to exploitation of : labour
Generally, _ belief in the possibility of continual growth: economists
A country with a _ must be at a Surplus to repay the debt over a reasonably short period of time: net debt





The economic welfare cannot be said to have increased, if the increase in national income is due to exploitation of LABOUR
Generally, belief in the possibility of continual growth ECONOMISTS
If the change in were due to change in prices, it would be difficult to measure the real change in economic welfare NATIONAL INCOME Economic growth is measured by the increase in
the amount of goods and services in each successive period TIME
Rapid leads to urbanization and industrialization with their adverse effects on the pattern of living
and environment GROWTH
is defined as the process whereby the real per capita income of a country increases over a long period of time ECONOMIC GROWTH
In an which imports raw materials and other intermediate products at high prices, the cost of production of domestic goods will always rise OPEN ECONOMY
can be maintained by following acounter-cyclical monetary Policy PRICE STABILITY
A country with a must be at a Surplus to repay the debt over a reasonably short period of time NET DEBT
Increase in results in increase in economic welfare PER CAPITA INCOME


The system the national government uses to measure the level of the country\'s economic activity in a given time period is _______ Bookkeeping system None of the options The goods sold in the black market, are excluded although they are priced (they have market value) and fulfil the needs of the people but from the social point of view, they are not useful, Gross domestic product Policy of _____ is to keeps the value of money stable Price stability The profits earned or losses incurred on account of changes in capital assets as a result of the fluctuations in market prices are included in GDP if and only if they are not responsible for the current year? Production A Shoe maker charges N8000.00 for each pairs of shoe he makes. The Shoe maker pays his shop apprentice N500.00 per cloth made in return for sweeping the floor an None of the options A bag of cassava has a market value of N500, which is the price Olusanya Nigeria Ltd paid for the cassava. If the cassava undergo series of production system, which has a market valu OgoOluwa and sons Ltd is into farming production and he produces N6,000 worth of cattle milk. He sold N1,800 worth of milk to his friends and uses the rest of the milk to feed his livestock, None of the options The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product Non-nationals Keynes alternative definition of ______ is a situation in which aggregate employment is inelastic in response to an increase in the effective demand for its output Full employment Another term used for ______ in economics is book keeping system National income accounting



251. ...... is a document that explicitly described the spending decision of the government Vis-A-Vis the projected revenue and the source
12) Budget
2)..... theory states that a country should specialize in the production of  the commodity or service in which it has lower opportunity cost....
13) comparative advantage
3)........ is the difference btw total government expenditure that is taxes minus government expenditure
14) budget balance
4)...... was the proponent of the theory of comparative advantage
15) David Ricardo
16) ..... is when expenditure is greater than revenue
17) deficit budget
6).... defined as the good and service in which a country is more efficient or can produce the same amount with other country using fewer resources
18) theory of Absolute advantage
7)------is when the rerevenu to be generated is forecasted to be greater than expenditure
T*surplus budget
8)------are known as running cost which the government undertakes in its day-to-day activities
19) Recurrent expenditure
9)-------are receipts of monies from fines taxes fees etc by the government
20) Recurrent revenue
10)-----is needed to perform some allocative function just as the price mechanism performs in the private sector
21) Budget
======
ECO122  NOUN  PQ





252. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

253. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

254. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

255. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

256. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

257. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

258. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

259. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

260. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

261. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics





22) John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

23) Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

24) _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

25) Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

26) To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

27) Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

28) One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

29) The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

30) According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

31) ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading

Question
Government ______ is the income available to fund the activities of a government.

Answer
revenue



Question
_____ is a situation in financial planning or the budgeting process where total revenues are equal to or greater than total expenses

Answer
Banalnce Budget



Question
When spending exceeds income, the result is a _____

Answer
budget deficit



Question
A ____ might be used to pay off debt, save for the future, or to make a desired purchase that has been delayed

Answer
budget surplus



Question
_____ a situation in which income exceeds expenditures

Answer
Budget surplus



Question
The ___ is an important economic document of a country

Answer
budget



Question
____ is the difference between total government expenditure, that is, taxes minus government expenditure

Answer
Budget balance



Question
___ is a document that explicitly describe the spending decision of the government vis-à-vis the projected revenue and the source

Answer
Budget



Question
The consultant who can do everything more efficiently than every other person is synonymous with the country that can produce everything more _____ than any other country in the world

Answer
efficiently



Question
____ theory states that a country should specialize in the production of a commodity or service in which it has a lower opportunity-cost

Answer
Comparative advantage



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
Government ______ is the income available to fund the activities of a government.

Answer
revenue



Question
_____ is a situation in financial planning or the budgeting process where total revenues are equal to or greater than total expenses

Answer
Banalnce Budget



Question
When spending exceeds income, the result is a _____

Answer
budget deficit



Question
A ____ might be used to pay off debt, save for the future, or to make a desired purchase that has been delayed

Answer
budget surplus



Question
_____ a situation in which income exceeds expenditures

Answer
Budget surplus



Question
The ___ is an important economic document of a country

Answer
budget



Question
____ is the difference between total government expenditure, that is, taxes minus government expenditure

Answer
Budget balance



Question
___ is a document that explicitly describe the spending decision of the government vis-à-vis the projected revenue and the source

Answer
Budget



Question
The consultant who can do everything more efficiently than every other person is synonymous with the country that can produce everything more _____ than any other country in the world

Answer
efficiently



Question
____ theory states that a country should specialize in the production of a commodity or service in which it has a lower opportunity-cost

Answer
Comparative advantage



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
Government ______ is the income available to fund the activities of a government.

Answer
revenue



Question
_____ is a situation in financial planning or the budgeting process where total revenues are equal to or greater than total expenses

Answer
Banalnce Budget



Question
When spending exceeds income, the result is a _____

Answer
budget deficit



Question
A ____ might be used to pay off debt, save for the future, or to make a desired purchase that has been delayed

Answer
budget surplus



Question
_____ a situation in which income exceeds expenditures

Answer
Budget surplus



Question
The ___ is an important economic document of a country

Answer
budget



Question
____ is the difference between total government expenditure, that is, taxes minus government expenditure

Answer
Budget balance



Question
___ is a document that explicitly describe the spending decision of the government vis-à-vis the projected revenue and the source

Answer
Budget



Question
The consultant who can do everything more efficiently than every other person is synonymous with the country that can produce everything more _____ than any other country in the world

Answer
efficiently



Question
____ theory states that a country should specialize in the production of a commodity or service in which it has a lower opportunity-cost

Answer
Comparative advantage



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading
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British colonial officials established the West African Currency Board in _____ to help finance the export trade of foreign firms in West Africa

1912

Rapid _____ leads to urbanization and industrialization with their adverse effects on the pattern of living and environment

growth

The term "macro" was first used in economics by _____ in 1933

Ragner Frisch

_____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

Macroeconomics

Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

aggregate economy

Commercial bank is an institution which accepts _____, makes business loans, and offers related

deposits

_____ equals exports minus imports

Net export

Financial institution is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through _____

capital markets

The income not spent on goods and services for current consumption is called _____

savings

_____ can be maintained by following acounter-cyclical monetary Policy

Price stability (www.puredu.net)
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To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

effective demand

In a geometric function, the MPC is actually the slope of the ______

concumption function

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

Prices

_____ is the total Supply of goods and services produced within an economy at a given overall price level in a given time period

Aggregate Supply

Domestic income does not include the income earned _____

abroad

In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate _____

economic development

At the end of 1988, the banking system consisted of the_____, forty-two commercial banks, and twenty four merchant banks

Central Bank of Nigeria

Increase in _____ results in increase in economic welfare

per capita income

A financial institution is a financial intermediary that accepts ____ and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets

deposits

_____ equals consumer spending plus investment plus government spending plus exports minus imports

Gross Private domestic investment (www.puredu.net)
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262. C Piguo attaches great importance to ____ because welfare is a very wide term

economic welfare

_____ equals exports minus imports

Net export

The _____ cannot be said to have increased, if the increase in national income is due to exploitation of people

economic welfare

Increase in per capita income results in increase in _____

economic welfare

John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

1929

A financial institution is a financial intermediary that accepts ____ and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets

deposits

The term "macro" was first used in economics by _____ in 1933

Ragner Frisch

Commercial bank is an institution which accepts _____, makes business loans, and offers related

deposits

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

Prices

In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate _____

economic development (www.puredu.net)
(www.puredu.net) (www.puredu.net) ECO122
10/10
32) C Piguo attaches great importance to _____ because welfare is a very wide term

economic welfare

The income not spent on goods and services for current consumption is called _____

savings

The income not spent on goods and services for current ____ is called savings

consumption

The ________suggested that increasing total investment, total output, total income and total consumption should raise unemployment caused by deficiency of effective demand

Keynesian theory of employment

Consumption is the use of goods and services by ______

household

If Nigeria purchased N20 billion of gasoline from other countries last year, but it also sold N80 billion of gasoline to other countries last year, the Nigeria\'s net gasoline exports will be _______

None of the Option

_____ are the net benefits to agents from allowing an increase in voluntary trading with each other

Gain from trade

A ___ company is one which transacts the business of banking which means the accepting for the purpose of lending all investment of deposits of money from the public

banking

Economic welfare is that part of _____ welfare which can directly or indirectly be measured in money

social

At the end of ____, the banking system consisted of the Central Bank of Nigeria, forty-two commercial banks, and 24 merchant banks

1988 (www.puredu.net)
(www.puredu.net) (www.puredu.net) ECO122
10/10
If the change in____ were due to change in prices, it would be difficult to measure the real change in economic welfare

national income

Average Propensity to consume refers to the percentage of income that is spent on goods and services rather than on ______

savings

The income of citizens of a country living abroad is termed ____ from the rest of the world

factor income

_____ is a single mathematical function used to express consumer spending

Consumption function

_______ an institution which accepts deposits, makes business loans, and offers related services

commercial bank

Various functions of commercial banks can be divided into three main groups; ____, Agency Functions and General utility function.

Primary Functions

Increase in ____ results in increase in welfare

per capita income

________ is used when the value of final good and services produced in the economy are added together, of particular period usually a year

Value added method

Meaning of APC is _____

average propensity to consume

The income not spent on goods and services for current ____ is called savings

consumption (www.puredu.net)
(www.puredu.net) (www.puredu.net) 8/10

At the end of 1988, the banking system consisted of the Central Bank of Nigeria, 42 commercial banks, and _____ merchant banks

24

In macroeconomics, _____ is the accumulation of newly produced termed trade surplus entities

goods and services

One of the goals of ______ policy is to stabilize the price level

macroeconomics

commercial bank is an institution which accepts ______, makes business loans, and offers related services

deposits

The term "macro" was first used in economics by _____ in 1933

Ragner Frisch

In _____ several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

1952

Increase in _____ results in increase in economic welfare

per capita income

If the change in ____ were due to change in prices, it would be difficult to measure the real change in economic welfare

national income

The income not spent on goods and services for current consumption is called _____

savings

At the end of 1988, the banking system consisted of the_____, forty-two commercial banks, and twenty four merchant banks

Central Bank of Nigeria



(www.puredu.net)
ECO 122 TMA 2

Keynes alternative definition of ______ is a situation in which aggregate employment is inelastic in response to an increase in the effective demand for its output

.........full employment

The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product

......non-nationals


A bag of cassava has a market value of N500, which is the price Olusanya Nigeria Ltd paid for the cassava. If the cassava undergo series of production system, which has a market value of N1000.00 (the price the company paid for the cassava). The cassava is then made into Garri worth N3000.00 in the market. The intermediate goods in this analysis is_____

............None of the Options


Another term used for ______ in economics is book keeping system

........National income accounting



Policy of _____ is to keeps the value of money stable

...........price stability


The goods sold in the black market, are excluded although they are priced (they have market value) and fulfil the needs of the people but from the social point of view, they are not useful, and thus, the income received from their sales and purchases is always not included in _____.


...........Gross domestic Product


A Shoe maker charges N8000.00 for each pairs of shoe he makes. The Shoe maker pays his shop apprentice N500.00 per cloth made in return for sweeping the floor and other chores. For each shoe produced, what is the total contribution of the shoe maker and his apprentice to GDP?

............N4000


The system the national government uses to measure the level of the country\'s economic activity in a given time period is _______

.........book keeping System


OgoOluwa and sons Ltd is into farming production and he produces N6,000 worth of cattle milk. He sold N1,800 worth of milk to his friends and uses the rest of the milk to feed his livestock, which he at the end sold to his friends for N8,500. What is OgoOluwa and sons Ltd contribution to GDP?

,,,,,,,,,,,,None of the Options


The profits earned or losses incurred on account of changes in capital assets as a result of the fluctuations in market prices are included in GDP if and only if they are not responsible for the current year’s _________

.............Production


















































Eco 122 tma 2 10/10

263. Price stability

264. Time

265. Net Debt

266. Economic growth

267. Per capital Income

268. Labour

269. Open economy

270. Growth

271. Economists

272. National Income
Eco 122 tma 2 10/10

273. _____ can be maintained by following acounter-cyclical monetary Policy
	Price stability

274. Economic growth is measured by the increase in the amount of goods and services in each successive ____ period
	Time

275. Net Debt

276. is defined as the process whereby the real per capita income of a country increases over a long period of time
	Economic growth

277. Increase in _____ results in increase in economic welfare
	Per capital Income

278. The economic welfare cannot be said to have increased, if the increase in national income is due to exploitation of ____
	Labour

279. In an ____ which imports raw materials and other intermediate products at high prices, the cost of production of domestic goods will always rise
	Open economy

280. Rapid _____ leads to urbanization and industrialization with their adverse effects on the pattern of living and environmen
	Growth

281. Generally, _____ belief in the possibility of continual growth
	Economists

282. If the change in ____ were due to change in prices, it would be difficult to measure the real change in economic welfare
	National Income
Eco122 tma3

No _____ existed Nigeria until 1952
	banking legislation

A _____ company is one which transacts the business of banking which means the accepting for the purpose of lending all investment of deposits of money from the public
	banking

British colonial officials established the West African Currency Board in 1912 to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to ____
	British pounds sterling

he meaning of _____ in macroeconomics is disposable income
	Yd

In _____ several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development
	1952

Financial institution is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through _____
	capital markets


If the level of income is 2000, planned export demand equal marginal propensity to import is 0.4 and exogenous import is 340. Calculate the net export.
	none of the options

At the end of _____, the banking system consisted of the Central Bank of Nigeria, 42 commercial banks, and 24 merchant banks
	1988

commercial bank is an institution which accepts ______, makes business loans, and offers related services
	deposits

In 1892 Nigeria's first bank, the ______, was established
	African Banking corporation
Macroeconomics studies the behavior of the individual economic market. True or False? ___________

283. False*
________ was the economist who developed a general theory of income, output and employment.

284. Keynes*
The term “macro” was first used in economics by Ragner Frisch in the year ___________

285. 1933*
Full employment means the absence of __________ unemployment.

286. Involuntary*
One of the goals of macroeconomics policy is to stabilize the price level. True or False? ___________

287. True*
Macroeconomics is the study of ___________ of an economy as a whole

288. Aggregates*
___________ is the summation of all the values of goods and services produced in a country by the nationals and non-nationals.

289. GDP*
Goods and services produced in the previous years are included in the GDP calculation. True or False? _______________

290. False*
Final good or service is the end product of the ___________ process.

291. Production*
A special type of good that is difficult to class as intermediate or final is a ___________ good

292. Capital*
Social security such as unemployment insurance, scholarships are called ___________ payment

293. Transferred*
Problem of ___________ counting is one of the problems of computation of GDP

294. Double*
The income of citizens of a country living abroad is termed ___________ income from the rest of the world

295. Factor*
Net National Product is Gross National Product minus ___________

296. Depreciation*
Domestic income is ___________ income minus net income earned from abroad

297. National*
__________ income is personal income minus direct taxes.

298. Disposable*
Real gross domestic product is nominal gross domestic product that has been adjusted for _____________

299. Inflation*
________ GDP is the GDP measured in the current market prices of the goods and services.

300. Nominal*
Real GDP is called GDP at ___________ prices

301. Constant*
A particular year when prices are normal or stable is called the _______________ year

302. Base*
National income account provides a basis for national economic policies. True or False ___________________

303. True*
National income is GDP less net factor income from ___________

304. Abroad*
When import is subtracted from export, we have ___________ exports

305. Net*
When consumer expenditure is subtracted from the amount of disposable income, it is referred to as ___________

306. Savings*
The current governor of Central Bank of Nigeria is ___________

307. Godwin Emefiele*
___________ is the use of goods and services by households

308. Consumption*
The lender of last resort and financial adviser to the government is ___________ bank

309. Central*
In the consumption function, C = b0 + b1Y ; b0 is referred to as ___________ consumption

310. Autonomous*
b1 in the consumption function is known as ___________ propensity to consume

311. Marginal*
Autonomous consumption represents consumption when income is ___________

312. Zero*
___________ propensity to consume refers to the percentage of income that is spent on goods and services rather than on savings

313. Average*
Government policy is not a determinant of savings. True or False ___________

314. False*
Level of national income is a determinant of investment. True or False ______________

315. True*
___________ coincidence of want is a problem associated with trade by barter

316. Double*
The ease with which money can be carried is referred to as ___________

317. Portability*
Money as a ___________ of exchange is the most important function of money

318. Medium*
Money as a unit of ___________ makes it possible to measure the prices of goods and services

319. Account*
The demand for liquidity for day to day transactions is known as ___________ motive for liquidity.

320. Transactionary*
___________ motive is the demand for liquidity for unforeseen circumstances

321. Precautionary*
A financial institution which accepts deposits, makes business loans, and offers related services is a ___________ bank

322. Commercial*
Non-residential investment is not part of gross private domestic investment. Agree or Disagree ___________________

323. Disagree*
___________ investment is the value of investment in buildings, machinery, before taking away depreciation

324. Gross*
National defence, provision of social amenities , policing, internal and external securities are all part of ___________ spending

325. Government*
Value added tax is an example of ___________ tax

326. Indirect*
Personal income tax, capital gains tax are examples of ___________ tax

327. Direct*
Government consumption and investment are part of government spending but excludes ___________ payments.

328. Transfer*
Government ___________ is money received by a government

329. Revenue*
___________ is a compulsory levy imposed by the government on individuals and business firms

330. Tax*
A situation where tax rate reduces as the size of income increases is ___________ tax

331. Regressive*
Budget ___________ is a status of financial health in which expenditures exceed revenue

332. Deficit*
Macroeconomics studies the behavior of which economic systems

whole (aggregate)

Macroeconomics examines

All of the options

Objectives of macroeconomics does not include

Individual economic market

When the real per capita income of a country increases over a long period of time is known as

economic growth

One of the Keynesian concept of full employment involves

Reduction in the real wage rate

___ is the study of individual economic units of an economy

Microeconomics

The major determinant of macroeconomic problems is

Income

Who developed macroeconomics as a distinct method in economic theory?

John Keynes

The summation of all the values of goods and services produced in a country by the nationals and non-nationals is

Gross domestic product (GDP)

Which of the following is not a problem of national income determination?

None of the options

The followings is not included in the calculation of GDP except

current year production

Domestic income does not include:

Income earned abroad

The ratio of a country’s income to its population is known as ___

Per capita income

Personal income minus direct tax is known as

Disposable income

The importance of national income accounting does not include

For poverty alleviation

There are ___ basic approaches to the measurement of GDP

Three (3)

After subtracting depreciation from GNP, what we get is called

Net national product (NNP).

Aggregate consumption in any economy depends on a number of factors except

Capital accumulation

The determinants of savings does not include

Social cost

Saving is income

Not spent

With disposable income of N20,000 and spending of N8,000. What is APC?

0.4

Components of investment includes

All of the options

Which of the following is not a determinant of investment

None of the options

The exchange of good for goods and services for services is called

Barter system

One of these is not a stage in the evolution of money

Standard money

Who formulated the equation of exchange?

Irvin Fisher

The following are functions of money except

Unit of Measurement

The first money deposit bank in Nigeria was established in the year

1891

One of these is not a function of the central bank

Acceptance of deposits

Precautionary demand for money will be directly influenced by

A person’s level of income

One of the following is not a problem associated with the barter system

None of the options

Holding cash for the purchase of bond and securities is referred to as

Speculative demand for money

The first bank in Nigeria was known as

African Banking Corporation

The primary function of commercial bank is to

Accept deposits from every class

Banks that were licensed before Nigeria’s independence in 1960

First generation banks

The expenditure of households on goods and services is referred to as

Personal consumption expenditure

Gross private domestic investment includes

All of the options

Reasons for the downward sloping of the Aggregate Demand Curve

All of the options

The components of aggregate expenditure does not include

Capital accumulation

Factors that lead to increase in government spending excludes.

Political stability

Reasons why government levy taxes exclude

To punish the citizens

One of these is not a disadvantage of international trade

Technical knowledge

Trade between two countries is known as

Bilateral trade

Three approaches of measuring national income account are

Income, output, expenditure

Reasons for increased government expenditure in Nigeria does not include

Good governance

Compulsory levy by government to the citizens is known as

Taxation

The proponent of the theory of Comparative Cost Advantage

David Ricardo

Comparative advantage doctrine is based on the assumptions except

Unequal cost of production

Which arm of the government implements the budget

The Executive

Roles of government budgets exclude

Advisory
333. One of the goals of ______ policy is to stabilize the price level
ans- macroeconomics

334. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages
ans-  effective demand

335. ___ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level
ans- Macroeconomics

336. __ gave an alternative definition of full employment at another place in his general theory publication
ans-

337. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets
ans- aggregate economy

338. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others
ans-  prices

339. Piguo attaches great importance to economic _____ because welfare is a very wide term.
ans- welfare

340. The term “macro” was first used in economics by _____ in 1933
ans- Ragner Frisch

341. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money
ans- income

342. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____
ans- 1929
______ gave an alternative definition of full employment at another place in his general theory publication

Piguo

An aggregation of an individual\'s income with disregard of direct taxes is referred to as _____

Aggregate income

A summation of all the values of goods and services produced in a country by the nationals and non-nationals of that country is referred to as ____

GDP

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by

Depreciation


The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product

non-nationals

Which of the following is not a problem of national income determination?

Problem of paid services

Approaches to measuring GDP are ___ in number

3

The following are components of investment except ____

Marginal investment

An example of fiat money is

Paper naira

Money and wealth are the same thing

TRUE
======
ECO122  NOUN  PQ





343. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

344. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

345. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

346. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

347. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

348. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

349. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

350. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

351. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

352. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics





33) John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

34) Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

35) _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

36) Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

37) To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

38) Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

39) One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

40) The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

41) According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

42) ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

ECO122 NOUN EXAM






Mathematically, MPC + MPS = ____
1

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

The meaning of _____ in macroeconomics is disposable income
None of Options

The following except one is the formular of Per Capita Income
National Income/Total Population

Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year
final goods and services

Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____
import expenditure minus net exports

The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

Consumption, Savings and Investment is the theory of ___
National Income accounting

The Central Bank of Nigeria, which was statutorily independent of the federal government in _____
1968

______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms
Value added

Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.
individual private businesses and public sector

The income approach to the calculation of GDP measures GDP in terms of who receives
None of the Option

Merchant banks are set up primarily to cater for the needs of _______
None of the Option

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others
prices

To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages
effective demand

One of the goals of ______ policy is to stabilize the price level
macroeconomics

______ gave an alternative definition of full employment at another place in his general theory publication
Piguo!

_____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level
Macroeconomics

The term “macro” was first used in economics by _____ in 1933
Ragner Frisch

John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____
1929

Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets
aggregate economy

According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money
income

Piguo attaches great importance to economic _____ because welfare is a very wide term.
welfare



Macroeconomics problems was dealt with vigorously by ______ economists
Sismondi and Marx

Given S = -bo + BY, where -bo in the model means__________
autonomous

An example of closed economy is____________
Y = C + I

In the early 1933, macro was used in economics by _________
Ragner Frisch

The following economists execept one is not part of those that developed the theory of money and general prices ____________
Smith

The meaning of macro means __________
Aggregate Economy

The prolem of double counting or multiple counting arises when applying the ______ method to etimate national income
Output expenditure

In the 18th century the ________ economist makes use of macroeconomics
physiocrat

Consumption is the use of goods and services by __________
household

The following except one is not the goal of macroeconomics ____________
Full Production

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

An increase in price expectations shifts the long-run aggregate supply curve to the ___.
Right

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

According to the wealth effect, aggregate demand slopes downward (negatively) because
lower prices increase the value of money holdings and consumer spending increases.

Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply curve
is vertical because an equal change in all prices and wages leaves output unaffected.

A tax is a ____ levy imposed by the government on individuals and business firms as it relates to the incomes, consumption, and production of goods and services
compulsory

Is not one of the characteristics of budget
Proportionality

Given AD = C + I + G + NX , where C = 520 + 0.6Y; I = 120; and G = 200; NX = 12 and T = 150, what is the equilibrium output?
1800

Economists refer to fluctuations in output as the \
Unpredictable

Stagflation occurs when the economy experiences
rising prices and falling output

Which of the following would not cause a shift in the long-run aggregate supply curve?
An increase in price expectations

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'

Which of the following is not a problem of national income determination?
Problem of paid services

If the banks in an economy operate with a reserve ratio of 20 per cent then the money multiplier is:
5

If Obaka buys a newly built retirement home, this transaction would affect
Investment

The use of goods and services by household is referred to as ____
Consumption

Which of the following is not a function of money?
Hedge against inflation

An example of fiat money is
Paper naira

Reserve requirements that may be imposed on an economy’s banks by its central bank specify that banks’ reserves must be a minimum percentage of their
Deposits

Which of the following policy actions by a central bank is likely to increase the money supply?
Buying government bonds in open market operations

Money and wealth are the same thing
FALSE\'

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by
Depreciation

Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of ___ of an economy as a whole.
aggregates

If a tailor buys cloth for N10,000 and thread for N1,000 and uses them to produce and sell N25,000 worth of dresses to consumers, the contribution to GDP is
N25,000

Gross Domestic Product is the sum of the market value of the
Final goods and services.

Gross Domestic Product can be measured as the sum of
Consumption, investment, government purchases, and net exports

Which of the following can be excluded from Nigeria GDP for 2020? The sale of would be
A home built in 2019 by Brains and Harmers at Lugbe and first sold in 2020.

Real GDP is measured in ________ prices while nominal GDP is measured in ________ prices.
base year; current year

An example of a transfer payment is
Unemployment benefits

Nigeria Gross Domestic Product (in contrast to Gross National Product) measures the production and income of
People and factories located within the borders of the Nigeria.

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'



91) According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

92) Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

93) Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

94) The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

95) To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

96) ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

97) John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

98) _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

99) Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

100) One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics



43) The ____ of aggregate demand indicates that a change in taxes will shifts the aggregate demand curve in the direction opposite to that of the change in taxes

	      demand curve

	      supply side

	--->> Keynesian analysis

	      savings curve

44) The problem of ________ arises when applying the Output expenditure

	--->> double counting

	      expenditure

	      National income

	      aggregate supply

45) The _____ are negative when there is decrease in the equilibrium GDP

	      net imports

	--->> net exports

	      investment goods

	      Gross Private Investment

46) Along a given aggregate supply curve an increase in the price level leads to an increase in aggregate output because ______

	      workers work more hours, due to the increase in the real wage

	--->> firms increase production in response to higher profits

	      workers work more hours, due to the decrease in the real wage

	      All of the Options

47) Merchant banks are set up primarily to cater for the needs of ___

	      people

	      Government

	      corporate organization

	--->> None of the Options

48) ______ is defined as the ratio of the change in consumption to the change in income that necessitated it

	      Consumption

	      Savings

	--->> Marginal propensity to consume

	      Investment

49) In a ____ not all basic needs are generally met by the Private sector

	--->> free market economy

	      economy

	      supply sector

	      None of the Options

50) The british colonial officials established the ______ in 1912

	--->> West African Currency Board

	      Nigerian bank

	      monetary authority

	      CBN

51) A sum of N5000.00 is fixed on a shoe, then the fixed tax of N5000.00 is the ________

	      direct tax

	      indirect tax

	--->> Specific tax

	      Advarolem tax

52) In ____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

	      1960

	      1966

	      1955

	--->> 1952



53) Mr Olaoluwa a foreigner buy N800 billion worth of Nigerian exports and Mrs Vivian Odishika a Nigerian buy N700 billion worth of foreign imports in a given year. Therefore, the net exports is_________

	      1Billion

	      22Billion

	      3.2Billion

	--->> None of the Options

54) ______ of import analysis shows that import are purcahses by domestic buyers of goods and services that were produced abroad

	      Investment

	--->> Macroeconomics

	      Microeconomics

	      All of the Options

55) The ______ generation banks are licensed before 1960

	--->> first

	      second

	      third

	      fourth

56) In the ______ consumption expenditure, the component of the consumption is the monthly income reportn

	      Firm's

	--->> personal

	      company's

	      overall

57) _______ is said to be the act of producing capital goods which are not for immediate use

	      Savings

	      Consumption

	--->> Investment

	      Goods and Services

58) Nigeria purchased N11 billion of gasoline fron Mali last year, but it also sold N28 billion of gasoline to Ghana last year, therefore Nigeria's net gasoline export is _________

	      44.2Billion

	      2.3Billion

	      1.5Billion

	--->> None of the Options

59) The Gross Private domestic investment is the total investment in capital by the _____

	      domestic sector

	--->> investors

	      private sector

	      Government sector

60) The motive of holding money for unforseen contingency is ______

	      Transactionary motive

	      Speculative motive

	      Unforseen motive

	--->> precautionary motive

61) In the theory of final consumption expenditure, the expenditure by resident households on the domestic territory and expenditure by resident household abroad are added together but excludes any non-resideent hoseholds' expenditure on the ______

	--->> domestic territory

	      list of consumers

	      overall expenditrure

	      None of the Options

62) The _____ measures the investment used to calculate Gross domestic product in economic measurement of a nation

	      Gross National Product

	      National investment

	      Investment of a nation

	--->> Gross Private domestic investment




1--- banking legislation

2_ banking

3-- British pounds sterling

4__ Yd

5--- 1952

6--- capital markets

7--- none of the options

8___1988

9___ deposits

10___ African Banking corporation


Book keeping system

None of the options

Gross domestice product

Price stability

Production

None of the options

None of the options

Non-nationals

Full employment

National income accounting


ECO122  NOUN EXAM


Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading


Try Another Search
If the level of income is 2000, planned export demand equal marginal propensity to import is 0.4 and exogenous import is 340. Calculate the net export.
None of Options??

A public good is associated with ______
Economy of scale??



10/10

Mathematically, MPC + MPS = ____
1

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

The meaning of _____ in macroeconomics is disposable income
None of Options

The following except one is the formular of Per Capita Income
National Income/Total Population

Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year
final goods and services

Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____
import expenditure minus net exports

The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

Consumption, Savings and Investment is the theory of ___
National Income accounting

The Central Bank of Nigeria, which was statutorily independent of the federal government in _____
1968

______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms
Value added

Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.
individual private businesses and public sector

The income approach to the calculation of GDP measures GDP in terms of who receives
None of the Option

Merchant banks are set up primarily to cater for the needs of _______
None of the Option

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others
prices

To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages
effective demand

One of the goals of ______ policy is to stabilize the price level
macroeconomics

______ gave an alternative definition of full employment at another place in his general theory publication
Piguo!

_____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level
Macroeconomics

The term “macro” was first used in economics by _____ in 1933
Ragner Frisch

John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____
1929

Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets
aggregate economy

According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money
income

Piguo attaches great importance to economic _____ because welfare is a very wide term.
welfare



Macroeconomics problems was dealt with vigorously by ______ economists
Sismondi and Marx

Given S = -bo + BY, where -bo in the model means__________
autonomous

An example of closed economy is____________
Y = C + I

In the early 1933, macro was used in economics by _________
Ragner Frisch

The following economists execept one is not part of those that developed the theory of money and general prices ____________
Smith

The meaning of macro means __________
Aggregate Economy

The prolem of double counting or multiple counting arises when applying the ______ method to etimate national income
Output expenditure

In the 18th century the ________ economist makes use of macroeconomics
physiocrat

Consumption is the use of goods and services by __________
household

The following except one is not the goal of macroeconomics ____________
Full Production

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

An increase in price expectations shifts the long-run aggregate supply curve to the ___.
Right

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

According to the wealth effect, aggregate demand slopes downward (negatively) because
lower prices increase the value of money holdings and consumer spending increases.

Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply curve
is vertical because an equal change in all prices and wages leaves output unaffected.

A tax is a ____ levy imposed by the government on individuals and business firms as it relates to the incomes, consumption, and production of goods and services
compulsory

Is not one of the characteristics of budget
Proportionality

Given AD = C + I + G + NX , where C = 520 + 0.6Y; I = 120; and G = 200; NX = 12 and T = 150, what is the equilibrium output?
1800

Economists refer to fluctuations in output as the \
Unpredictable

Stagflation occurs when the economy experiences
rising prices and falling output

Which of the following would not cause a shift in the long-run aggregate supply curve?
An increase in price expectations

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'

Which of the following is not a problem of national income determination?
Problem of paid services

If the banks in an economy operate with a reserve ratio of 20 per cent then the money multiplier is:
5

If Obaka buys a newly built retirement home, this transaction would affect
Investment

The use of goods and services by household is referred to as ____
Consumption

Which of the following is not a function of money?
Hedge against inflation

An example of fiat money is
Paper naira

Reserve requirements that may be imposed on an economy’s banks by its central bank specify that banks’ reserves must be a minimum percentage of their
Deposits

Which of the following policy actions by a central bank is likely to increase the money supply?
Buying government bonds in open market operations

Money and wealth are the same thing
FALSE\'

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by
Depreciation

Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of ___ of an economy as a whole.
aggregates

If a tailor buys cloth for N10,000 and thread for N1,000 and uses them to produce and sell N25,000 worth of dresses to consumers, the contribution to GDP is
N25,000

Gross Domestic Product is the sum of the market value of the
Final goods and services.

Gross Domestic Product can be measured as the sum of
Consumption, investment, government purchases, and net exports

Which of the following can be excluded from Nigeria GDP for 2020? The sale of would be
A home built in 2019 by Brains and Harmers at Lugbe and first sold in 2020.

Real GDP is measured in ________ prices while nominal GDP is measured in ________ prices.
base year; current year

An example of a transfer payment is
Unemployment benefits

Nigeria Gross Domestic Product (in contrast to Gross National Product) measures the production and income of
People and factories located within the borders of the Nigeria.

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'



101) According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

102) Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

103) Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

104) The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

105) To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

106) ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

107) John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

108) _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

109) Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

110) One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics



63) The ____ of aggregate demand indicates that a change in taxes will shifts the aggregate demand curve in the direction opposite to that of the change in taxes

	      demand curve

	      supply side

	--->> Keynesian analysis

	      savings curve

64) The problem of ________ arises when applying the Output expenditure

	--->> double counting

	      expenditure

	      National income

	      aggregate supply

65) The _____ are negative when there is decrease in the equilibrium GDP

	      net imports

	--->> net exports

	      investment goods

	      Gross Private Investment

66) Along a given aggregate supply curve an increase in the price level leads to an increase in aggregate output because ______

	      workers work more hours, due to the increase in the real wage

	--->> firms increase production in response to higher profits

	      workers work more hours, due to the decrease in the real wage

	      All of the Options

67) Merchant banks are set up primarily to cater for the needs of ___

	      people

	      Government

	      corporate organization

	--->> None of the Options

68) ______ is defined as the ratio of the change in consumption to the change in income that necessitated it

	      Consumption

	      Savings

	--->> Marginal propensity to consume

	      Investment

69) In a ____ not all basic needs are generally met by the Private sector

	--->> free market economy

	      economy

	      supply sector

	      None of the Options

70) The british colonial officials established the ______ in 1912

	--->> West African Currency Board

	      Nigerian bank

	      monetary authority

	      CBN

71) A sum of N5000.00 is fixed on a shoe, then the fixed tax of N5000.00 is the ________

	      direct tax

	      indirect tax

	--->> Specific tax

	      Advarolem tax

72) In ____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

	      1960

	      1966

	      1955

	--->> 1952



73) Mr Olaoluwa a foreigner buy N800 billion worth of Nigerian exports and Mrs Vivian Odishika a Nigerian buy N700 billion worth of foreign imports in a given year. Therefore, the net exports is_________

	      1Billion

	      22Billion

	      3.2Billion

	--->> None of the Options

74) ______ of import analysis shows that import are purcahses by domestic buyers of goods and services that were produced abroad

	      Investment

	--->> Macroeconomics

	      Microeconomics

	      All of the Options

75) The ______ generation banks are licensed before 1960

	--->> first

	      second

	      third

	      fourth

76) In the ______ consumption expenditure, the component of the consumption is the monthly income reportn

	      Firm's

	--->> personal

	      company's

	      overall

77) _______ is said to be the act of producing capital goods which are not for immediate use

	      Savings

	      Consumption

	--->> Investment

	      Goods and Services

78) Nigeria purchased N11 billion of gasoline fron Mali last year, but it also sold N28 billion of gasoline to Ghana last year, therefore Nigeria's net gasoline export is _________

	      44.2Billion

	      2.3Billion

	      1.5Billion

	--->> None of the Options

79) The Gross Private domestic investment is the total investment in capital by the _____

	      domestic sector

	--->> investors

	      private sector

	      Government sector

80) The motive of holding money for unforseen contingency is ______

	      Transactionary motive

	      Speculative motive

	      Unforseen motive

	--->> precautionary motive

81) In the theory of final consumption expenditure, the expenditure by resident households on the domestic territory and expenditure by resident household abroad are added together but excludes any non-resideent hoseholds' expenditure on the ______

	--->> domestic territory

	      list of consumers

	      overall expenditrure

	      None of the Options

82) The _____ measures the investment used to calculate Gross domestic product in economic measurement of a nation

	      Gross National Product

	      National investment

	      Investment of a nation

	--->> Gross Private domestic investment




1--- banking legislation

2_ banking

3-- British pounds sterling

4__ Yd

5--- 1952

6--- capital markets

7--- none of the options

8___1988

9___ deposits

10___ African Banking corporation


Book keeping system

None of the options

Gross domestice product

Price stability

Production

None of the options

None of the options

Non-nationals

Full employment

National income accounting
Bfn209
Balance sheet shows the present _______ of a business. (Statement)
Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)
BUS205
___________ is a means by which power is acquired, exercised and sustained. (Communication)
Non __________ income is used to buy items to meet basic needs. (Discretionary)
_________motivation also causes you to be loyal to certain shops and companies. (Patronage)
__________ is a book in which particulars of all monies received or paid are recorded. (Cash Account)
___________ is the value that products and sellers place on goods or services. (Price)
Social __________ is owed by individuals and not by organizations. (Obligation)
_______ researchers also gather information from a wider group of people. (Market)
The _______ is the total amount supplied by owner of the business or owners equity or net worth. (Capital)
__________ must be attractive. (Packaging)
________include the resources possessed by the firm. (Assets)
BUS207
Verbal communication is one way for people to communicate ______________. (Face to face)
The actual origin of ___________ is subject to considerable speculation(Language)
If a language is about communicating with signals, voice, sounds, gestures, or written symbols, can animal communications be considered as a ___________? (Language)
The basis of _________________ is the interaction between people. (Communication)
Animals do not have a __________ form of a language, but use a language to communicate with each another. (Written)
Some words may be imitative of natural __________, but others may come from expressions of emotion, such as laughter or crying. (Sounds)
Some of the key components of verbal communication are sound, writing, speaking, and ______________. (Language)
A dialogue is a reciprocal conversation between _______ or more entities, (TWO)
As meaning is assigned to words, language develops, which leads to the ___________ of speaking. (Development)
At birth, most people have vocal cords, which produce __________. (Sounds)
BUS106
It could be argued that the _______ school is identical to the management process school. (Empirical)
Art is the imposition of __________. (Pattern)
___________ are best seen as fundamental or general truth on which other truths depend.(Pinciple)
Gilbreth is known for his work on time and _________studies. (Motion)
Decision theory schools believe in _________decision making. (Rational)
The first principles of management were advocated. (Henry fayol)
There are special areas of management that are not subjected to rigous of(Science)
spend his life working on the difference engine (Babbage)
Management can be define as getting thing done through (Organising)
Management can be define as a team or group of individuals in _________(Organisation)
ECO122
Exports are determined by factors outside the control of the ___ economy (Home)
The two components of import demand is fixed, and at the same time it varies with (Income)
The ____ are guided by the level of income, price level, taste and fashion of the foreign consumers (Spending Decision)
In technical terms, _____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade (Gain from trade)
Gains from trade are the net benefits to agents from allowing an increase in voluntary ______ with each other (Trading)
Import demand changes as______ changes (Income)
Because export is exogenous while a part of import is an increasing function of income, net exports are_____ related to national income/national output (Negatively)
_____ depend on the spending decisions of domestic consumers (Import)
When income rises, the aspect of _____ rises as well and when income falls, it falls (Import demand)
Exports depend on spending decisions made by foreign ____ or overseas firms that purchase domestic goods and services (Consumer)
ECO231
The demand for goods and services is __ (Direct Demand)
The prices paid to the factors of production are called (All of the above)
Reason for the study of factor pricing are (All of the above)
The demand of factor of product can also be Joint Demand because for producer to produce orange he/she has to demand for all the _(factors of production)
The factors needed in the production process are also known as (Production Service)
The factor pricing is concerned with the determination of prices of services of factors of ______ (Production)
To produce goods and services, ____ need the services of factors of production, like land, labour, capital, and entrepreneur (FIRMs)
The theory of distribution is an attempt to explain how income is distributed among the factors of __ (Production)
The employer of factors of production only uses the factors in the production of goods and services to be finally sold in the ____(Product Market)
When workers are engaged or capital are borrowed, it does not offer any direct satisfaction to the ____ (Producer)
The production concept holds that consumers will value products that are highly (Affordable)
Another important role is the discovery of entrepreneurial talent (Agree)
Marketing's first role is to (Stimulate Aggregate potential demand)
Consumerism is an organized movement of citizens and government to fight wars on poor products(Disagree)
Commodity approach in marketing focuses on (Classes of products)
The major goal of an organization to an extent is (Profit)
The product concept holds that consumers value products that offer (High Quality)
Marketing concept holds that organization must first create to satisfy (Needs and want)
One of the significance of marketing is to provide (impulse purchase)
The purpose of marketing concept is to help organizations (Achieve its goal
BFN203
According Gardon (2014), there is a remarked difference between capital gains investing and the game of speculation
The_________ is a document which sets broad parameters for taxation and ancillary matters connected with taxation (National tax Policy
investing is the art of buying and selling an asset for a profit (Capital Gain Investing)
__ is a technique that reduces risk by allocating investments among various financial instruments, industries and other categories (Diversification)
some or all of a loan when the borrower is ins (Credit Insurance)
The steps involved in personal financial planning process Include all of the following except________ (Goal Division)
are options to purchase common stock at a specified price up to a specified date (Warrants)
Is a type of tax (PAYE)
Owning a current and savings account have the same requirements (False)
Ent203
The achievement needs theory was developed by (McCelland)
Which of the following emphasized the risk aspect of entrepreneurship (Cantillon)
Which of the following a pattern of venture capital development (Mid Stage)
Entrepreneurial process include the following stages except? (Profit Planning)
(New Monnies)
VC stands for (Venture Capital)
Which of the following will not support in-house entrepreneurial development in organizations (Bickering)
CIT201
The software that uses the power and speed of a computer machine to perform some mathematical calculations or simulate some real life situations is called a ___ software. (Modeling)
Ent 209
Friedrich Hayek (1937 is a prominent of( Austrian school of thought)
An entrepreneur who is a rebellion and tries to bring in new ways of working and new society is called ____________________ (Reformist)
The Nigerian Bank for Commerce and Industry (NBCI) was set up in 1973 to provide ____________ by way of loans to indigenous persons, institutions and organisations for medium and long term investments (Equity and Loan)
The risk theory proposes that the _________________ the nature of business, the __________________________ (More Risky Higer profit)
The Human Capital Entrepreneurship Theory is hinged on these two factors _______________ and ________________ (Education and Experience)
* One of the credit functions of BOA is the direct lending to qualified loan applicants engaged in agricultural and nonagricultural small busine (correct)
Mkt 205
Certain (question) are often asked while formulating product strategy
In most organizations, __________ is an annual process, typically covering just the year ahead (Strategic planning)
An important element of distribution strategy for banks is __ (Site Location)
High interest s rate on deposits or reduction rates on loans and advances are good examples of pricing ___________ (Pricing Strategy)
The marketing concept rest on ______________pillars (Four)
A good marketing plan should have the following qualities (All of the above)
are attracted through promises and are retained through satisfaction of expectations (Customers)
Place strategies are concerned with ensuring the prompt delivery of the services to the _______ (Target Market)
_ must always come first before other activities (Planning)
described the emergence of services sector and banks experience in service marketing (Gupta)
acc102
These are accounting concepts except.








ECO122 List of eExam Questions in the Bank
Latex formatted questions may not properly render
Q1 Net exports equals
Q2 Gross Private domestic investment equals consumer spending plus investment plus government spending plus
Q3 Gross Private Domestic investment is a relatively specific measure of
Q4 Gross Private domestic investment measures is used to calculate nation
Q5 If import is greater than exports it is called
in economic measurement of a
Q6 If exports is greater than imports it is called
Q7 Net exports can be seen as
Q8 The Personal Consumption is the largest part of
Q9 The gross domestic product is the summation of all the values of goods and services produced in a country by the and non-nationals
Q10 The second generation banks were bank lincensed between	years
Q11 The first generation bank in Nigeria were lincensed before
Q12 National income accounting provides economists and statisticians with detailed information that can be used to track the health of an
Q13 Central bank of Nigeria began Operations in
Q14 British Colonial Officials established the	in 1912
Q15 Nigeria first bank the African banking corporation was established in
Q16 Per capita income is defined as the ratio of a country’s income to its
Q17 Economic growth is defined as the process whereby the time
Q18 According to Keynes, full employment means the absence of
of a country increases over a long period of
Q19 Macroeconomics studies the behavior of the whole (aggregate) economy or economic systems rather than individual
Q20 A rise in domestic inflation can plunge the economy into
Q21 Positive net export that is current account surplus can be used to recover the economy from
Q22 The factor that affect trade flows is the changes in
Q23 Mr Olusanya Samuel an American consumer intends to buy Nigeria product wort of N1000.00, given that exchange rate is 50, so the amount of dollars he need for the transaction is
Q24 A rise in exchange rate when domestic currency rises relative to foreign currency is called
Q25 A fall in exchange when domestic currency falls relative to foreign currency is called
Q26 When exchange rate rises, import demand is
Q27 When exchange rate fall, import demand becomes
Q28 Given that the amount of naira needed when we want to buy $100 worth of US and the exchange rate falls to $50 and product given that exchange rate is N500.00, the amount of naira needed is
Q29 Given that the amount of naira needed when we want to buy $100 worth of United State of America product given that exchange rate is N500.00, the amount of naira needed is
Q30 The rate at which the naira is exchanged for the dollar is called
Q31 International prices affects
Q32 C + I in macroeconomic modelling means
Q33 (X-M) in macroeconomic modelling means
Q34 Mo in macroeconomic modelling means
Q35 Xo in macroeconomic modelling means
Q36 Import demand is the one that changes as
Q37 Imports is treated as	varaible because firmknowthe amount of intermediate goods or capital goods
Q38 Imports depends on the	decisions of domestic consumers
Q39 Export is treated as exogenous varaible because it is determined by factors outside the control of the
Q40 The spending decisions of the government are guided by the level of income, price level, taste and fashion of the
Q41 Export depend on spending decisions made by foreign consumers or overseas firms that purchase domestic
Q42 An example of closed economy model is
Q43 An example of open economy model is
Q44 Gain fromtade are commonly described as resulting fromspecialization in production from
Q45 Gain fromtrade can be defined further in technical terms as the increase of consumer surplus plus producer surplus from tariffs
Q46 Gain fromtrade are the net benefits to agents fromallowing an increase in	trading with each other
Q47 The theory where a country specialises in the production of a commodity or services in which it has a lower opportunity cost is called
Q48 David Ricardo was the proponent of the theory of
Q49 Adam Smith is well known with the theory of
Q50 The theory where the goods and services in which a country is more efficient or can produce more than the other country or produce the same amount with other country using fewer resources is called
Q51 International trade can be defined as	between a country and the rest of the world
Q52 International economics is concerns with economic relationships within and among
Q53 An Open economy is the economy in which there are economic activities between
Q54 National income accounting is a termused in economics to refer to the	system
Q55 The financial statement of the sources and uses of the government is
Q56 The bearer of the burden of tax is called
Q57 The deliberate act of exploiting the loopholes in the tax regulations to manipulate his economic situation in other to pay lower tax is called
Q58 Tax evasion is a deliberate attempt by a tax payer not to pay
Q59 If a Machine tool is N2,000,000 and an ad valoremtax of 8 percent is imposed, then tax paid is
Q60 If a sumof N200.00 is fixed on a shirt, then the fixed tax N200.00 is called the
Q61	is tax levied is proportional to the tax base or income of the individual
Q62 Regressive tax is a situation where	reduces as the size of income decreases
Q63 Progressive tax is a situation where tax rate increases as the size of
Q64 The two types of tax are
Q65 A tax is a	imposed by the government on individuals and business firms as it relates to the incomes,
consumptions and production of goods and services
Q66 Revenue earned by the government are received fromsources such as accumulation of individuals and corporation
on the incomes and wealth
Q67 Government revenue is the	available to fund the activities of a government
Q68 Government Spending also means
Q69 Government Spending is the spending activities carried out by the	of a country
Q70 Aggregate Supply curve shows the relationship between the overall price level
by all firms in an economy and the
Q71 Aggregate Supply is the period
Q72 Aggregate demand is the
produced within an economy at a given overall price level in a given time
in the economy
Q73 Aggregate demand curve is the relationship between	that firms are willing to provide
Q74 In macroeconomics, investment is the accumulation of newly produced	entities
Q75 Gross investment is the value of investment in buildings, machinery before taking away
Q76 Nigeria's first bank, the African Banking Corporation, was established in
1890
1877
1894
1892
Q77 Mr Afees Oyebo purchase a machine tool at N3,000,000 and an ad valoremtax of 21 percent is imposed, calculate the tax Mr Afees Oyebo finally paid on the machone tools.
N430,000 N630,000 N70.00
None of the above
Q78 If a sumof N800.00 is fixed on a shirt, then the fixed tax of N800.00 is the	tax
Custom Duty Free Specific Import
Q79	tax is leveid proportional to the tax base or income of the individual
Progressive Regressive Proportional None of the above
Q80	tax is a situation where tax rate reduces as the size of income increases
Progressive Regressive Proportional Neutal
Q81 The two types of taxes are	and	tax
Direct and Income Company and Indirect Direct and indirect
al of the above
Q82 The first generation bank were banks that were licensed before
1966
1960
1970
1977
Q83	an institution which accepts deposits, makes business loans, and offers related services
Central Bank Merchant Bank Commercial Bank Insurance Company
Q84 Finance and insurance services represented more than	of Nigeria's GDP in 1988
* 	percent
* 	percent
* 	percent
al of the above
Q85 The Central Bank of Nigeria, which was statutorily independent of the federal government until 1968, began operations on
July Ist 1955
July 1st 1959
June 1st 1959
July 1st 1949
Q86 In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate
Economic growth Economic activities Economic Development None of the above
Q87 British colonial officials established the West African Currency Board in
1993
1912
1922
1990
Q88 In	Nigeria's first bank, the African Banking Corporation, was established
1999
1899
1892
1992
Q89	is a situation when you hold money for investment purposes
Precautionary motive Speculative motive Expenses motive
al of the above
Q90 Economists take the study of money seriously because evidence suggests that
The money supply and the price level move clsoely together Money and interest rate movements are related
Business cycle downturns are preceded by downturns in money growth al of the above are true
Q91 Developing countries stand to gain frominternational trade because
Trade enables themto specialize in producing where they have a comparative advantage Trade gives themaccess to the greater variety of goods produced abroad
Trade subjects their local producers to greater competition al of the above are true
Q92 The calculation of goods produced by Nigerian nationals in South Africa and the one produced in Nigeria is called
Gross Nation's Product Gross National Product Gross Domestic Product Al of the above are true
Q93 Macroeconomics as the field of economics that studies the behavior of the
economy
micro-economy aggregate economy multisector economy
Q94	make(s) it more likely that small countries will trade internationally because their costs of getting products over their borders are worth the effort
Technological cost Transport costs Labor costs
al of the above are true
Q95 Consumption, Savings and Investment is the theory of
Neo-Classical Economist Economics
Keynesian Economist National Income accounting
Q96 The graph that shows the relationship between consumption and income is
Consumption graph Nation income graph Investmentn graph
Savings graph
Q97 Average propensity to consume refers to
the relationship between consumption and savings
the position where a poor person move to a better level
percentage of income that is spent on goods and services rather than on savings percentage of income that is not spend on goods and services rather than on savings
Q98 Investment in economics can be defined as
the amount invested in a business amount use for daily transaction
the act of producing capital goods which are not for immediate consumption net additions to series of investment
Q99 Which of the following is a primary function of money?
to serve as an encouragement to work to serve as a unit of account
to raise funds for the government
to reduce the burden of excessive imports
Q100 The following except one is the most important goals of macroeconomics objective in an economy
Economic growth balanced of payment Price stability Exchange rate
Q101 What is the real GDP IN 2014?
N10,080 N1440 N10,134
none of the above
Q102 GDP valued at current year prices or nominal GDP fromthe analysis above are	and
N1,774 and 9800 N3,731 and N9,230 N3,080 and N9800
none of the above
Q103 Using the analysis above, What is the GDP FOR 2014?
N9,800 N9,230 N1400
none of the above
Q104 Use the following information to answer question 67, 68, 69 and 70. Let us assume that Nigeria produces only two food stuff: Garri and Rice. The prices and quantities of these two food stuff in 2013 and 2014 are as follows: in 2013 the quantity for Garri and Rice produced are 280 and 420 respectively while Prices of Garri and Rice are N70 AND N56 respectively. For 2014; the quantity for Garri and Rice are 560 and 840 respectively while Prices of Garri and Rice are N140 AND N70 respectively. using the analyis above, what is the GDP for 2013
N3,731 N1,774 N3,080
none of the above
Q105 Disposable income or personal disposable income is the actual income which an individual spent on
Personal Expenses Personal savings Personal purchases none of the above
Q106 The british colonial officials established the West African Currency Board in
1922
1933
1912
1927
Q107 In	year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development
1955
1923
1953
1952
Q108 Merchant banks are set up primarily to cater for the needs of
corporate and institutional debtors corporate organization
commercial banks and institutional customers none of the above
Q109 Economists take the study of money seriously because evidence suggests that
The money supply and the price level move clsoely together Money and interest rate movements are related
Business cycle downturns are preceded by downturns in money growth al of the above are true
Q110 Which of the following is a central issue in macroeconomics?
the deregulation of the banking industry inflation of prescription drug prices
the ef ect of excise taxes on consumers' buying patterns none of the above
Q111 Which of the following is a primary function of money?
to serve as an encouragement to work to serve as a unit of account
to raise funds for the government
to reduce the burden of excessive imports
Q112 The functions of money are
medium of exchange, unit of account, and store of value pricing, contracts, and means of payment
medium of exchange and the ability to buy goods and services medium of exchange, unit of account, and means of payment
Q113 Money can be define as
Anything that can be used to purchase items
Anything that is generaly accepted, as a means of exchange and payment/settlement of debts. the means of exchanging goods for goods
anything that is use for capital goods
Q114 Investment in economics can be defined as
the amount invested in a business amount use for daily transaction
the act of producing capital goods which are not for immediate consumption net additions to series of investment
Q115 The formular for savings function is
S = - b0 + BY S= b1 + By
S= b0 + bYd S= -bo + Yd
Q116 Marginal propensity to consume is defined as
the percent change in savings and income
the percentage change in interest rate and consumption the ratio of investment to Savings
the ratio of the change in consumption to the change in income that necessitated it
Q117 Average propensity to consume refers to
the relationship between consumption and savings
the position where a poor person move to a better level
percentage of income that is spent on goods and services rather than on savings percentage of income that is not spend on goods and services rather than on savings
Q118 The graph that shows the relationship between consumption and income is
Consumption graph Nation income graph Investmentn graph Savings graph
Q119 Budget is needed to performsome allocative function just as the     mechanism performs in the private sectoe
Goods Fiscal Price
Al of the above
Q120 The financial plan of the projected expenditures and revenues of a unit of Government to ensure fiscal period is
The supply of goods and services the budget
the Government expenses None of the above
Q121	is the difference between total government expenditure that is taxes minus government expenditure
Budget deficit Budget balance Budget suplus Budget analysis
Q122 Budget is a document that exolicitly describe the spending decision of the government against the project    and the
Deficit and revenue Supply and revenue Revenue and source None of the above
Q123	theory states that a country should specialise in the production of a commodity or service in which it has a lower opportunity cost.
Comparative disadvantage Comparative advantage Absolute Disadvantage None of the above
Q124	is the goods or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources
The theory of comparative cost advantage The theory of Absolute advantage
The theory of international trade Al of the above
Q125	was the main author of Comparative advantage
Adams Smith David Ricardo John Smith
None of the above
Q126 Adams Smith is associatd with the theory of
Comparative advantage Absolute advantage Theory of trade
None of the above
Q127 The following except one are the importance of international trade.
imports serve domestic industry exports acts as agents of growth imports serve foreign consumers None of the above
Q128 Is true that the reason for trade between countries are not in any way different fromreasons individuals trade within a country.
TRUE FALSE
A and B
None of the above
Q129       is a trade relation between a country and the rest of the world
International trade International prices A and B
None of the above
Q130 Spending by foreigners is a component of
Spending
Goods and services Total spending
Al of the above
Q131 Prices of	varies in nature
International transaction Goods and services International goods
Al of the above
Q132 Economy that is in recession can recover by reducing      and increasing export supply.
Import Supply Export demand Import demand Al of the above
Q133 A fall in domestic inflation will help the economy to recover fromrecession through
Decrease in net export Decrease in net import Increase in net export Al of the above
Q134	,	, and	have implication on the output performnace of the domestic economy
exchange rate, inflation and deflation Inflation, deflation and exchange rate policy
exchange rate, domestic inflation and foreign inflation None of the above
Q135 Positive net export (current account surplus) can be used to recover the economy from
Boom Recession
Bad Government None of the above
Q136 Given a planned aggregate demand: AD = C + I + G + NX, where C = 610 + 0.8Y, I = 210, NX = 10 and T = 220. Calculate the equilibrium output.
4200
4700
4000
None of the above
Q137 Depreciation makes	cheaper and	expensive.
Export and import Exchange rate and goods
Importation and exchange rate Al of the above
Q138 Consider a United States of America consumer that intends to buy Nigeria product worth N8000.00, how much dollars does he need for the transaction? Given the exchange rate to be 210.
30
38.1
34.09
None of the above
Q139	is the rate at which the naira is exchange for the dollar
Local currency Exchange price Exchange rate Bureau de change
Q140	and	are affected by international prices.
Import X and Y Export X and Y Import and prices None of the above
Q141 Assuming the income is 2500, planned export demand is 800, marginal propensity to import is 0.2 and exogenous import is 250. Calculate the net export
300
200
100
None of the above
Q142 If the level of income is 1000, planned export demand equal marginal propensity to import is 0.2 and exogenous import is 250. Calculate the net export.
301
300
350
None of the above
Q143 Meaning of Mo in export tarde is
Exogenous M Autonomous M
Imported basic investment goods None of the above
Q144 Meaning of Xo in export trade is
Exogenous X autonomous X Export demand None of the above
Q145 Because is exogenous while a part of import is an inceasing function of  , net export are negatively related to national output
Export, import Import, export Export, income Al of the above
Q146 The two components of import demand are	and	.
Fixed and mixed Mixed and rises Fixed and rises None of the above
Q147 The	are guided by the level of income, price level, taste and fashion of foreign consumers.
Decision making process Decision in trade Spending Decision None of the above
Q148 Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of	of an economy as a whole
aggregates smal Exports
Al of the above
Q149	is describe as a result of specialization in production fromeconomies of scale, scope, division of labor
International trade Production
Gains from trade Trade Production
Q150	is the benefits to economic agents for allowing an increase in voluntary trading.
Net Output Net input Net Supply Net
eco122 List of Questions
Latex formatted questions may not properly render
Q1 If Nigeria purchased N30 billion of gasoline from other countries last year, but it also sold N70 billion of gasoline to other countries last year, the Nigeria's net gasoline exports will be
N40 Billion
Q2 Various functions of commercial banks can be divided into three main groups; Primary Functions, Agency Functions and
General utility function
Q3 The two essential functions that a financial institution must perform to become a bank are accepting deposit and
Lending to the public
Q4 A banking company is one which transacts the business of banking which means the accepting for the purpose of lending all
of deposits of money from the public
investment
Q5 The meaning of Yd in macroeconomics is
disposable income
Q6		an institution which accepts deposits, makes business loans, and offers related services
commercial bank
Q7 At the end of 1988, the banking system consisted of the Central Bank of Nigeria, forty-two commercial banks, and
merchant banks
24
Q8 In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate
economic development
Q9 British colonial officials established the West African Currency Board in	to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to British pounds sterling
1912
Q10 No banking legislation existed Nigeria until
1952
Q11 In	Nigeria's first bank, the African Banking Corporation, was established
1892
Q12 A	is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets
financial institution
Q13 The following are the motives of holding money except Spending Motive
Q14 The following are not functions of money except
store of value
Q15 The following are the characteristics of money except
individuality
Q16 Increase in per capita income results in increase in
Economic welfare
Q17 The	cannot be said to have increased, if the increase in national income is due to exploitation of labour Economic welfare
Q18 If the change in national income were due to change in prices, it would be difficult to measure the real change in
Economic welfare
Q19 According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national income, because both of them are measured in terms of
money
Q20	attaches great importance to economic welfare because welfare is a very wide term.
Piguo
Q21 Economic welfare is that part of social welfare which can directly or indirectly be measured in
money
Q22 One of the great welfare economists is
2) C. Pigou
Q23 Economic welfare is a state of the mind which reflects human happiness and
satisfaction
Q24 Investment in economics can be defined as the act of producing capital goods which are not for	consumption
immediate consumption
Q25 The inverse of average propensity to save is the Average propensity to consume
Q26 The average propensity to save is an economic term that refers to the proportion of income that is	rather than spent on goods and services
saved
Q27 Determinants of savings are the followings except
Government factor
Q28 The income not spent on goods and services for current consumption is called
savings
Q29 Marginal propensity to consume is defined as the ratio of the change in consumption to the change in	that necessitated it income
Q30 Meaning of APS is
None of the above
Q31	refers to the percentage of income that is spent on goods and services rather than on savings
Average Propensity to consume
Q32 Meaning of APC is
average propensity to consume
Q33 In a geometric fashion, the MPC is actually the slope of the	function Consumption
Q34 The meaning of MPC is marginal propensity to consume
Q35 The marginal propensity to consume, on the other hand measures the rate at which	is changing when income is changing
consumption
Q36 Autonomous consumption represents consumption when income is
zero
Q37	was developed by John Maynard Keynes and detailed most famously in his book The General Theory of Employment, Interest, and Money
Consumption function
Q38	is a single mathematical function used to express consumer spending
Consumption function
Q39 Consumption is distinct from consumption expenditure, which is the	of goods and services for use by households
Purchase
Q40 Consumption is the use of goods and services by
household
Q41 A banking company is one which transacts the business of banking which means the accepting for the purpose of lending all
of deposits of money from the public investment
Q42 The meaning of Yd in macroeconomics is
disposable income
Q43 The	method calculates the total expenditure required to purchase the nation's output
Output ??? expenditure
Q44	measures the total value of all, expenditures on goods and services by individual private businesses and public sector (governments) in a particular period of time
Expenditure approach
Q45	is used when the value of final good and services produced in the economy are added together, of particular period usually a year
Value added method
Q46 The following are three basic approaches to the measurement of GDP except one
Value-added approach
Q47 Disposable income or personal disposable income is the actual income which an individual spent on
consumption
Q48	is defined as the ratio of a country???s income to its population, while GDP per capita is defined as the ratio of a country???s GDP to the population of the country
Per capita income
Q49 Domestic income does not include the income earned
abroad
Q50 The income of citizens of a country living abroad
Macroeconomics studies the behavior of the individual economic market. True or False?
False
was the economist who developed a general theory of income, output and employment.
Keynes
The term “macro” was first used in economics by Ragner Frisch in the year
1933
Full employment means the absence of	unemployment.
Involuntary
One of the goals of macroeconomics policy is to stabilize the price level. True or False?
True
Macroeconomics is the study of	of an economy as a whole
Aggregates
is the summation of all the values of goods and services produced in a country by the nationals and non-nationals.
GDP
Goods and services produced in the previous years are included in the GDP calculation. True or False?
False
Final good or service is the end product of the	process.
Production
A special type of good that is difficult to class as intermediate or final is a	good
Capital
Social security such as unemployment insurance, scholarships are called	payment
Transferred
Problem of	counting is one of the problems of computation of GDP
Double
The income of citizens of a country living abroad is termed	income from the rest of the world
Factor
Net National Product is Gross National Product minus
Depreciation
Domestic income is	income minus net income earned from abroad
National
income is personal income minus direct taxes.
Disposable
Real gross domestic product is nominal gross domestic product that has been adjusted for
Inflation
GDP is the GDP measured in the current market prices of the goods and services.
Nominal
Real GDP is called GDP at	prices
Constant
A particular year when prices are normal or stable is called the	year
Base
National income account provides a basis for national economic policies. True or False
True
National income is GDP less net factor income from
Abroad
When import is subtracted from export, we have	exports
Net
When consumer expenditure is subtracted from the amount of disposable income, it is referred to as
Savings
The current governor of Central Bank of Nigeria is
Godwin Emefiele
is the use of goods and services by households
Consumption
The lender of last resort and financial adviser to the government is	bank
Central
In the consumption function, C = b0 + b1Y ; b0 is referred to as	consumption
Autonomous
b1 in the consumption function is known as	propensity to consume
Marginal
Autonomous consumption represents consumption when income is
Zero
propensity to consume refers to the percentage of income that is spent on goods and services rather than on savings
Average
Government policy is not a determinant of savings. True or False
False
Level of national income is a determinant of investment. True or False
True
coincidence of want is a problem associated with trade by barter
Double
The ease with which money can be carried is referred to as
Portability
Money as a	of exchange is the most important function of money
Medium
Money as a unit of	makes it possible to measure the prices of goods and services
Account
The demand for liquidity for day to day transactions is known as	motive for liquidity.
Transactionary
motive is the demand for liquidity for unforeseen circumstances
Precautionary
A financial institution which accepts deposits, makes business loans, and offers related services is a
bank
Commercial
Non-residential investment is not part of gross private domestic investment. Agree or Disagree
Disagree
investment is the value of investment in buildings, machinery, before taking away depreciation
Gross
National defence, provision of social amenities , policing, internal and external securities are all part of
spending
Government
Value added tax is an example of	tax
Indirect
Personal income tax, capital gains tax are examples of	tax
Direct
Government consumption and investment are part of government spending but excludes
payments.
Transfer
Government	is money received by a government
Revenue
is a compulsory levy imposed by the government on individuals and business firms
Tax
A situation where tax rate reduces as the size of income increases is	tax
Regressive
Budget	is a status of financial health in which expenditures exceed revenue
Deficit
Macroeconomics studies the behavior of which economic systems whole (aggregate)
Macroeconomics examines All of the options
Objectives of macroeconomics does not include Individual economic market
When the real per capita income of a country increases over a long period of time is known as economic growth
One of the Keynesian concept of full employment involves Reduction in the real wage rate
is the study of individual economic units of an economy Microeconomics
The major determinant of macroeconomic problems is Income
Who developed macroeconomics as a distinct method in economic theory?
John Keynes
The summation of all the values of goods and services produced in a country by the nationals and non-nationals is
Gross domestic product (GDP)
Which of the following is not a problem of national income determination? None of the options
The followings is not included in the calculation of GDP except current year production
Domestic income does not include:
Income earned abroad
The ratio of a country’s income to its population is known as
Per capita income
Personal income minus direct tax is known as Disposable income
The importance of national income accounting does not include For poverty alleviation
There are	basic approaches to the measurement of GDP Three (3)
After subtracting depreciation from GNP, what we get is called Net national product (NNP).
Aggregate consumption in any economy depends on a number of factors except Capital accumulation
The determinants of savings does not include Social cost
Saving is income
Not spent
With disposable income of N20,000 and spending of N8,000. What is APC? 0.4
Components of investment includes All of the options
Which of the following is not a determinant of investment None of the options
The exchange of good for goods and services for services is called Barter system
One of these is not a stage in the evolution of money Standard money
Who formulated the equation of exchange? Irvin Fisher
The following are functions of money except Unit of Measurement
The first money deposit bank in Nigeria was established in the year 1891
One of these is not a function of the central bank Acceptance of deposits
Precautionary demand for money will be directly influenced by A person’s level of income
One of the following is not a problem associated with the barter system None of the options
Holding cash for the purchase of bond and securities is referred to as
Speculative demand for money
The first bank in Nigeria was known as African Banking Corporation
The primary function of commercial bank is to Accept deposits from every class
Banks that were licensed before Nigeria’s independence in 1960 First generation banks
The expenditure of households on goods and services is referred to as Personal consumption expenditure
Gross private domestic investment includes All of the options
Reasons for the downward sloping of the Aggregate Demand Curve All of the options
The components of aggregate expenditure does not include Capital accumulation
Factors that lead to increase in government spending excludes. Political stability
Reasons why government levy taxes exclude To punish the citizens
One of these is not a disadvantage of international trade Technical knowledge
Trade between two countries is known as Bilateral trade
Three approaches of measuring national income account are
Income, output, expenditure
Reasons for increased government expenditure in Nigeria does not include Good governance
Compulsory levy by government to the citizens is known as Taxation
The proponent of the theory of Comparative Cost Advantage David Ricardo
Comparative advantage doctrine is based on the assumptions except Unequal cost of production
Which arm of the government implements the budget The Executive
Roles of government budgets exclude Advisory
eco122 TMA1 List of Questions
Latex formatted questions may not properly render
Q1 Prices of _______ varies in nature
International transaction
Q2 Economy that is in recession can recover by reducing ______ and increasing export supply.
Import demand
Q3 A fall in domestic inflation will help the economy to recover from recession through _______
Increase in net export
Q4 ______, _______, and _______ have implication on the output performnace of the domestic economy
exchange rate, domestic inflation and foreign inflation
Q5 Positive net export (currnt account surplus) can be used to recover the economy from _____
Recession
Q6 Given a planned aggregate demand: AD = C + I + G + NX, where C = 610 + 0.8Y, I = 210, NX = 10 and T = 220. Calculate the equilibrium output.
4700
Q7 Depreciation makes _____ cheaper and _____ expensive.
Export and import
Q8 Consider a United States of America consumer that intends to buy Nigeria product worth N8000.00, how much dollars does he need for the transaction? Given the exchange rate to be 210.
38.1
Q9 _____ is the rate at which the naira is exchange for the dollar
Exchange rate
Q10 ______ and _____ are affected by international prices.
None of the above
Q11 Assuming the income is 2500, planned export demand is 800, marginal propensity to import is 0.2 and exogenous import is 250. Calculate the net export
None of the above
Q12 If the level of income is 1000, planned export demand equal marginal propensity to import is 0.2 and exogenous import is 250. Calculate the net export.
350
Q13 Meaning of Mo in export tarde is ______
Imported basic investment goods
Q14 Meaning of Xo in export trade is ______
Export demand
Q15 Because ______ is exogenous while a part of import is an inceasing function of ____, net export are negatively related to national output
Export, income
Q16 The two components of import demand are _____ and _____.
None of the above
Q17 The _____ are guided by the level of income, price level, taste and fashion of foreign consumers.
Spending Decision
Q18 ______ depends on spending decisions made by foreign consumers or overseas from the purchase of domestic goods and services.
Imports duty
Q19 ______ is describe as a result of specialization in production from economies of scale, scope, division of labor
Gains from trade
Q20 ____ is the benefits to economic agents for allowing an increase in voluntary trading.
Net
eco122 TMA2 List of Questions
Latex formatted questions may not properly render
Q1 Which of the following is a primary function of money?
to serve as a unit of account
Q2 Macro was first used in economics by Ragner Frisch in _____
1933
Q3 Money can be define as __________
Anything that is generally accepted, as a means of exchange and payment/settlement of debts.
Q4 Investment in economics can be defined as ________
the act of producing capital goods which are not for immediate consumption
Q5 The formular for savings function is __________
S = - b0 + BY
Q6 Marginal propensity to consume is defined as _________
the ratio of the change in consumption to the change in income that necessitated it
Q7 Average propensity to consume refers to ________
percentage of income that is spent on goods and services rather than on savings
Q8 The graph that shows the relationship between consumption and income is _______
Consumption graph
Q9 Budget is needed to perform some allocative function just as the _____ mechanism performs in the private sector.
Price
Q10 The financial plan of the projected expenditures and revenues of a unit of Government to ensure fiscal period is _____
the budget
Q11 _____ is the difference between total government expenditure that is taxes minus government expenditure
Budget balance
Q12 Budget is a document that exolicitly describe the spending decision of the government against the project ____ and the _____
Revenue and source
Q13 _____ theory states that a country should specialise in the production of a commodity or service in which it has a lower opportunity cost.
Comparative advantage
Q14 ______ is the goods or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources
The theory of Absolute advantage
Q15 ______ was the main author of Comparative advantage
David Ricardo
Q16 Adams Smith is associatd with the theory of ______
Theory of trade
Q17 The following except one are the importance of international trade.
imports serve foreign consumers
Q18 The reason for trade between countries are not in any way different from reasons individuals trade within a __________.
Country
Q19 ______ is a trade relation between a country and the rest of the world
International trade
Q20 Spending by foreigners is a component of ______
Total spending
eco122 TMA3 List of Questions
Latex formatted questions may not properly render
Q1 Developing countries stand to gain from international trade because
all of the above are true
Q2 The calculation of goods produced by Nigerian nationals in South Africa and the one produced in Nigeria is called _______
Gross National Product
Q3 Macroeconomics as the field of economics studies the behavior of the ____
aggregate economy
Q4 _______________ make(s) it more likely that small countries will trade internationally because their costs of getting products over their borders are worth the effort
Transport costs
Q5 Consumption, Savings and Investment is the theory of _______
National Income accounting
Q6 The graph that shows the relationship between consumption and income is _______
Consumption graph
Q7 Average propensity to consume refers to ________
percentage of income that is spent on goods and services rather than on savings
Q8 Investment in economics can be defined as ________
the act of producing capital goods which are not for immediate consumption
Q9 Which of the following is a primary function of money?
to serve as a unit of account
Q10 The following except one is the most important goals of macroeconomics objective in an economy
Exchange rate
Q11 What is the real GDP IN 2014?
N10,080
Q12 GDP valued at current year prices or nominal GDP from the analysis above are ____ and _____
N3,080 and N9800
Q13 Using the analysis above, What is the GDP FOR 2014?
N9,800
Q14 Use the following information to answer question 67, 68, 69 and 70. Let us assume that Nigeria produces only two food stuff: Garri and Rice. The prices and quantities of these two food stuff in 2013 and 2014 are as follows: in 2013 the quantity for Garri and Rice produced are 280 and 420 respectively while Prices of Garri and Rice are N70 AND N56 respectively. For 2014; the quantity for Garri and Rice are 560 and 840 respectively while Prices of Garri and Rice are N140 AND N70 respectively. using the analyis above, what is the GDP for 2013
N3,080
Q15 Disposable income or personal disposable income is the actual income which an individual spent on _____
none of the above
Q16 The british colonial officials established the West African Currency Board in ______
1912
Q17 In _____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development
1952
Q18 Merchant banks are set up primarily to cater for the needs of _______
none of the above
Q19 Economists take the study of money seriously because evidence suggests that
all of the above are true
Q20 Which of the following is a central issue in macroeconomics?
inflation of prescription drug prices
eco122 TMA4 List of Questions
Latex formatted questions may not properly render
Q1 Nigeria's first bank, the African Banking Corporation, was established in _____
1892
Q2 Mr Afees Oyebo purchase a machinee tool at N3,000,000 and an ad valorem tax of 21 percent is imposed, calculate the tax Mr Afees Oyebo finally paid on the machine tools.
N630,000
Q3 If a sum of N800.00 is fixed on a shirt, then the fixed tax of N800.00 is the _____ tax
Specific
Q4 _____ tax is levied proportional to the tax base or income of the individual
Proportional
Q5 ______ tax is a situation where tax rate reduces as the size of income increases
Regressive
Q6 The two types of taxes are _____ and _____ tax
Direct and indirect
Q7 The first generation bank were banks that were licensed before _______
1960
Q8 ______ an institution which accepts deposits, makes business loans, and offers related services
Commercial Bank
Q9 Finance and insurance services represented more than ______ of Nigeria's GDP in 1988
3 percent
Q10 The Central Bank of Nigeria, which was statutorily independent of the federal government until 1968, began operations on ______
July 1st 1959
Q11 In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate ______
Economic Development
Q12 British colonial officials established the West African Currency Board in _____
1912
Q13 In ____ Nigeria's first bank, the African Banking Corporation, was established
1892
Q14 ______ is a situation when you hold money for investment purposes
Speculative motive
Q15 Economists take the study of money seriously because evidence suggests that
all of the above are true
Q16 From the early days of civilization, those in power have always rely on _____ as a method of generating income
Taxation
Q17 ______ is the income available to fund the activities of a governmnet
Government revenue
Q18 ______ Budget is a situation in which income exceeds expenditures
Surplus
Q19 ______ expenditure are expenditures on capital projects
Capital
Q20 Developing countries stand to gain from international trade because
all of the above
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161. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

162. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

163. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

164. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

165. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

166. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

167. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

168. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

169. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

170. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

======
BFN209
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171. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

172. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

173. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

174. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

175. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

176. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

177. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

178. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

179. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

180. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

======
BFN209
======

181. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

182. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

183. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

184. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

185. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

186. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

187. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

188. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

189. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

190. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

======
BFN209
======

191. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

192. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

193. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

194. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

195. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

196. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

197. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

198. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

199. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

200. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

======
BFN209
======

201. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

202. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

203. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

204. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

205. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

206. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

207. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

208. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

209. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

210. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

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BFN209
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211. Any activity that requires ___________ affects the financial resources of a firm or business

	      Financial risks

	--->> Cash budgeting

	      Capital gains

	      Cash flow

212. The financial asset traded in the financial market promises future benefits in the form of ______________

	--->> Cash payments

	      Capital gains

	      Cash flow

	      Financial growth

213. Financial Institutions and _________ are the major external sources of long-term funds in a business or firm

	      Factoring

	--->> Capital market

	      Money market

	      Capital gain

214. Shareholders invest their money in the shares of a company in the expectation of a return on their __________

	      Cash flow

	      Financial risk

	--->> Invested capital

	      Economic growth

215. The ownership rights of holders in an organisation is known as __________

	      Rights issue

	      Public issue

	--->> Shares

	      Internal Finance

216. Which of the following is not one of the three types of leases

	--->> Investment lease

	      Sale and leaseback

	      Operating lease

	      Financial lease

217. The two kinds of markets in exitence are Financial market and _________

	--->> Real Assets market

	      Capital market

	      Currency market

	      Debt market

218. The shareholders return on the shares of a company consists of Dividend and __________

	      Cash flow

	      Rights issue

	      Fixed income

	--->> Capital gain

219. The essential features of a partnership are all of the following except________

	      Life of partnership is limited because it is a legal entity

	      Partnership is not separated from the partners.

	--->> Partnership involves one person coming into business

	      Setting-up cost is low and it is easy to form

220. Borrowed fund or finance in a business is known as ________

	      Equity

	      Risk

	      Investment

	--->> Debt

FBQ1: Finance plays a very important role in any ----------- activities
Answer: Business

FBQ2: A business is a concern, an enterprise, or organization set up by an individual or group of individuals for the purpose of making -------- from operations of the concern.
Answer: Profit

FBQ3: Finance may be defined as the provision of money at the time it is-----------
Answer: Required

FBQ4: The --------- are expected to be arranged in such a way that fund (money) is always available to make necessary payments as they arise.
Answer: Inflows

FBQ5: Oyekanmi (2003) defined finance “as money affairs or money -------- ”
Answer: Matters

FBQ6: According to Hornby (2001), finance is the money need or needed to--------- an activity, project, programme etc. and or the management ofmoney.
Answer: Support

FBQ7: -------- evolved from economics as its branch in the early part of the 20th century
Answer: Finance

FBQ8: Money is the common ---------- for the full range of activities performed in the business.
Answer: Denominator

FBQ9: ----------- is the medium of exchange in business
Answer: Money

FBQ10: A ------- generates whatever capital it needs and utilizes it in activities which generate returns on invested capital
Answer: Firm

FBQ11: Internal finance is also known to as ------- fund/finance
Answer: Equity

FBQ12: External finance is also known to as ------- fund/finance
Answer: Borrowed

FBQ13: The equity fund/finance is solely owned by ------------------
Answer: Shareholders

FBQ14: Buyers of shares are called ------------------------
Answer: Shareholders

FBQ15: Shareholders invest their money in the shares of a company in theexpectation of a return on their invested ----------- .
Answer: Capital

FBQ16: The return for shareholders consists of ----------- and capital gain.
Answer: Dividend

FBQ17: In a financial system, the Household are also referred to as ____
Answer: Consumers.

FBQ18: ----------- represent ownership rights of their holders
Answer: Shares

FBQ19: Shareholders can be of two types that is, preference and ------------
Answer: Ordinary

FBQ20: There are two kinds of markets, namely real assets and ---------
Answer: Financial

FBQ21: ----------- markets are for physical or tangible assets such as plant, machinerywheat, office, gold, buildings etc.
Answer: Real

FBQ22: Intangible ------------ include copyrights, patent, technical know-how.
Answer: Assets

FBQ23: Financial market trades on ------------  assets
Answer: Financial

FBQ24: ---------- shareholders receive dividend at a fixed rate and they enjoy apriority over ordinary shareholders.
Answer: Preference

FBQ25: A ----------- can also obtain equity funds by retaining earnings available forshareholders.
Answer: company

FBQ26: ----------- shareholders they enjoy a priority over ordinary shareholders.
Answer: Preference

FBQ27: A ------------ is a certificate stating the amount of money lent by a holder to the company.
Answer: Bond

FBQ28: A business organization performs ---------- functions simultaneously andcontinuously in the normal course of its activities.
Answer: Finance

FBQ29: ---------- decisions involve capital expenditures which are referred to ascapital budgeting decision.
Answer: Investment

FBQ30: Capital structure is the mix of equity and ------------
Answer: Debt

FBQ31: The capital structure is said to be optimum when the market value of shares is --------------.
Answer: Maximized

FBQ32: The ----------- of profits distributed as dividend is called the dividend-payout ratio.
Answer: Proportion

FBQ33: The ---------- ratio is the retained portion of profits.
Answer: Retention

FBQ34:  The --------- policy is determined by its impact on the shareholder’s value.
Answer: Dividend

FBQ35: Liquidity and ------------ affect investment in current assets in business organizations.
Answer: Profitability

FBQ36: ------------------- of an enterprise is affected by the level of management of current asset.
Answer: Liquidity

FBQ37: Risk of illiquidity (lack of liquidity), in extreme situations, can lead to a business --------------
Answer: Insolvency

FBQ38: -------------- assets if properly/efficiently managed would safeguard the business organization against risk of illiquidity.
Answer: Current

FBQ39: ------------ risks are risks that some accident may destroy or spoil some physical goods created by the work financed.
Answer: Physical

FBQ40: ------------ risks are those risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan,hence it may fall short of achieving the intention
Answer: Technical

FBQ41: The simplest form of finance is where the whole of finance required by aparticular enterprise is provided by an ------------------.
Answer: Entrepreneur

FBQ42: Partnership and Limited Liability Company are two main ----------- forms under which people join together on equal terms to provide the finance needed for an enterprise, sharing fully in both risks and profits.
Answer: Institutional

FBQ43: ------------------------ and Limited Liability Company are two main institutional forms under which people join together on equal terms to provide the finance needed for an enterprise, sharing fully in both risks and profits.
Answer: Partnership

FBQ44: The ------------------ oversees or manages the enterprise’s liquid assets, liabilities, payroll and cashier activities, credits and collections, forecasting, capital budgeting and investment and financing.
Answer: Treasurer

FBQ45: The Treasurer is an active participant in long-range financial -------------
Answer: Planning

FBQ46: In ----------  economy of a country, prices of goods and services aredetermined by the forces of demand and supply.
Answer: market

FBQ47: ----------- mechanism (system) is a vital organ of a market economy, showing the goods and services required in the community.
Answer: Price

FBQ48: The ---------- price is where demand and supply match.
Answer: Equilibrium

FBQ49: ------- is the expected variability of the income flow.
Answer: Risk

FBQ50: Business firms are frequently profit oriented with maximization of profitas the proper -------------
Answer: Objective

MCQ1: ------------------- defined finance “as money affairs or money matters”.
Answer: Oyekanmi (2003)

MCQ2: --------------- is an
example of external finance
Answer: Loan

MCQ3: The return to shareholders consists of …………. and capital gain
Answer: dividend

MCQ4: Money is the common denominator for the full range of activities performed in the business.
Answer: true

MCQ5: According to Anao (1993), which one of the following is an example of money or near-money?
Answer: Certificate of deposits

MCQ6: Which of the following is not a product of financial market?
Answer: Patent

MCQ7: Finance evolved from accounting
Answer: false

MCQ8: Undistributed profits is also known as ----------------
Answer: Retained earnings

MCQ9: The capital structure of a firm could be defined as -------------
Answer: The mix of equity and debt

MCQ10: ------------------ are risks of losses because of unforeseen intervention by governments.
Answer: Political risks

MCQ11: Economic risks are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan
Answer: false

MCQ12: Shareholders can be of two types, namely preference and --------------------
Answer: Ordinary

MCQ13: Financial decisions is concerned with the acquisition and not disposal of assets through commitment or recommitment of funds on a continuous basis.
Answer: False

MCQ14: Finance manager's duties include
Answer: Selecting and evaluating projects

MCQ15: Product pricing/costing policy are jointly determined by the --------------
Answer: marketing/sales department and financial planning staff.

MCQ16: The Treasurer is an active participant in long-range financial planning.
Answer: True

MCQ17: The accounting and control function for the finance manager include
Answer: Tax matters

MCQ18: Price mechanism is a vital organ of a ---------------, showing the goods and services required in the community.
Answer: market economy

MCQ19: Which one is not a limitation of profit maximization according to Pandey (2005)?
Answer: It is certain

MCQ20: Profit maximization objective is not always clear to stakeholders of the firm.
Answer: True

MCQ21: The account manager is responsible for performing finance functions in a firm
Answer: false

MCQ22: Which of the following was not always a major events in the life the firm for raising funds
Answer: Annual general meeting

MCQ23: Which one of the following is the regulator of the capital market in Nigeria
Answer: The Nigerian Securities and ExchangeCommission

MCQ24: -------------------- is the meeting point for investors and firms
Answer: Capital market

MCQ25: ----------- is an example of fixed asset
Answer: furniture and fittings

MCQ26: --------------------- is a book in which receipts and payment of money are recorded
Answer: Cash book

MCQ27: Which one is not an example of current liability?
Answer: Trade debtors

MCQ28: Profit after tax is  --------------- item
Answer: An income statement

MCQ29: The balance sheet is more important than other financial statements to report the activities and performance of the firm
Answer: false

MCQ30: Profit planning is not related to considering -----------------
Answer: Depreciation

MCQ32: Cash flow element include ----------------
Answer: Investing Activities

MCQ33: --------------- refers to the management of current  assets and liabilities
Answer: Working capital management

MCQ34: The aim of cash management is not to maintain adequate control over cash position to be able to keep the enterprise sufficiently liquid and to use excess cash in some profitable way.
Answer: False

MCQ35: Components of short-term asset are the following except
Answer: Creditors

MCQ36: Business need to hold cash to achieve the ------------- motive
Answer: speculative

MCQ37: A --------------- have the legal right to enter into a contract, sue and be sued in its name.
Answer: limited liability company

MCQ38: Operators of companies are by law to register with ---------------
Answer: Corporate Affairs Commission

MCQ39: The promoters of a limited liability company must apply for registration with ……..
Answer: Memorandum and Articles of Association

MCQ40: Long-term sources of funds represent
Answer: Debenture

MCQ41: Debenture  stocks  are normally issued under a firm’s seal
Answer: True

MCQ42: --------------------- are the preference shares that allow for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend
Answer: Cumulative preference shares

MCQ43: Which one is not an example of lease financing?
Answer: Debenture lease

MCQ44: ---------------- convey upon the holders the right to convert these shares into equity shares in accordance with the terms of issues.
Answer: Convertible preference shares

MCQ45: Budgeting helps to identify the ----------- desired
Answer: Output

MCQ46: Planning helps to identify the ---------- required.
Answer: Inputs

MCQ47: A financial plan is a budget that interprets some elements of a plan in financial terms.
Answer: False

MCQ48: ------------------------ is the financing decisions and practices of individual households, businesses and non-business
Answer: micro finance

MCQ49: Debenture  stocks  is also known as --------------
Answer: Corporate bonds

MCQ50: ----------- is a creditor to the firm.
Answer: A debenture stock holder

MCQ31: An enterprise’s long-term projected plan should reflect its long-term pricing policy.
Answer: True


Course Code
bfn209


Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur


Try Another Search
A new capital a company re-acquires from the existing shareholders after distributing all earnings to shareholders is known as _____
Rights Shares

____shows the present statement of a business and the financial condition of an accounting entity as at a particular point in time.
Balance sheet

_____ are not owners of the company, but they provide money to enterprises as loan which are debt.
Creditors



The mix of equity and debt id called?
capital structure

____is the pillar upon which all economic activities stand
Finance

Financial market trades on financial assets which promises future benefits in all of the following except ___
Promissory notes


BFN209 tma1 10/10
The risk that threatens the complete or partial loss of the postponed fruits of effort can be classified into the following except____
Financial risks

Finance functions include the following EXCEPT.
expenditure function

The Encyclopedia of Banking and Finance classified finance into three categories except_____
A general term to denote the theory and practice of ralationship management and investment analysis

Finance evolved from economics as its branch in the early part of the _____ century
20th

Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.
The Shorter Oxford English Dictionary

Another name for the management of money is __________
Finance

The management of Finance is the pillar upon which all ________ activities stand
Economic

Money is the medium of exchange in business, the other two elements are production(operation) and ___________
Marketing

the provision of money at the time it is required isdescribed as ?.
finance

__is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares
Rights Shares

One of the following is not a medium of exchange in business
Investment


91. The internal finance in a business is also known as ____
11. Equity

2)The following are the fields of finance except __
2) Production/Operation

3)The proportion of profits from a firm distributed as dividend is called the_____
c) Dividend payout ratio

4)A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____
c) Internal Finance

7)Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are ____
d) Preference shareholders

8)the field of finance originally covers which of the following
intruments of Finance

10)The common denominator for the full range of activities performed in business is known as __
3) Money


The internal finance in a business is also known as ________
Equity

Without the existence of ___________ No business can survive
Finance

The management of Finance is the pillar upon which all ________ activities stand
Economic

_________ defined Finance as
Oyekanmi (2003)

Another name for the management of money is __________
Finance

One of the following is not a medium of exchange in business
Investment

__________ activities in a business provide goods and services to customers
Operation

In any private or public institution _________ plays an important role
Finance

The common denominator for the full range of activities performed in business is known as __________
Money

The following are all forms of near-money except ________
Preference shares

Buyers of shares are called _______________ and they are the legal-owners of the business whose shares they hold.
Shareholders

____________are for physical or tangible assets such as plant, machinery wheat, office, gold, buildings
Capital market

The common denominator for the full range of activities performed in the financcial sector is ___________
Money

Capital expenditures which are referred to as capital budgeting decision are reffered to as _____________
Investment decisions

_________invest their money in the shares of a company in the expectation of a return on their invested capital.
Shareholders

____________ is called borrowed fund or finance and referred to also as debt.
External Finance

The return on shareholder\'s investment in shares consists of Dividend and ___________
Capital gain

Money is the medium of exchange in business, the other two elements are production(operation) and ___________
Marketing

The proportion of profits from a firm distributed as dividend is called the_____________
Dividend payout ratio

A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____________
Internal Finance


BFN209

1:External finance all the following EXCEPT?
.........equity

2: the provision of money at the time it is required isdescribed as ?.
.................finance

3: The mix of equity and debt id called?
............capital structure

4: Finance functions include the following EXCEPT.
.........expenditure

5:Finance evolved from economics as its branch in the early?
.............20th centruy

6:internal finance is known as ?
..............equity fund

7: which of the following is the common denominator for the full range of activities performed in the business?
............money

8: Finance functions include the following EXCEPT?
.......expenditure  function

9: the field of finance originally covers which of the following?
..........instrument of finance

10: The risk that threatens the complete or partial loss of a business entity can be classified under the following headings Except?
..........presidential risk
BFN209 TMA1

* Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called Real Markets (Ans)
* Who defined finance as the system that includes the circulation of money, the granting of credit, the making of investments and the provision of banking facilities : Answer Webster third international dictionary.
* There are two kinds of markets, Financial market and (ans) Real assets markets
* The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except (ans) acquisition of financial resources for the organization.
* Who define finance as to lend, to settle debt, pay ransom, furnish, and procure. Ans: The shorter Oxford English Dictionary
* The Encyclopedia of Banking and Finance classified finance into three categories (ans)A general term to denote the theory and practice of ralationship management and investment analysis
* Financial market trades on financial assets which promises future benefits in all of the following except Ans: promissory notes.

* The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except____investment analysis
* The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except Ans(strategy)
* The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and (ans) capital gain.


10/10
Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur
======
BFN209
======

2) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

3) Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

4) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

5) The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

6) The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

7) Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

8) There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

9) The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

10) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

11) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market





b) Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

c) The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

d) There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

e) Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

f) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

g) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

h) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

i) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

j) The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

k) The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

======
BFN209
======

12) Any activity that requires ___________ affects the financial resources of a firm or business

	      Financial risks

	--->> Cash budgeting

	      Capital gains

	      Cash flow

13) The financial asset traded in the financial market promises future benefits in the form of ______________

	--->> Cash payments

	      Capital gains

	      Cash flow

	      Financial growth

14) Financial Institutions and _________ are the major external sources of long-term funds in a business or firm

	      Factoring

	--->> Capital market

	      Money market

	      Capital gain

15) Shareholders invest their money in the shares of a company in the expectation of a return on their __________

	      Cash flow

	      Financial risk

	--->> Invested capital

	      Economic growth

16) The ownership rights of holders in an organisation is known as __________

	      Rights issue

	      Public issue

	--->> Shares

	      Internal Finance

17) Which of the following is not one of the three types of leases

	--->> Investment lease

	      Sale and leaseback

	      Operating lease

	      Financial lease

18) The two kinds of markets in exitence are Financial market and _________

	--->> Real Assets market

	      Capital market

	      Currency market

	      Debt market

19) The shareholders return on the shares of a company consists of Dividend and __________

	      Cash flow

	      Rights issue

	      Fixed income

	--->> Capital gain

20) The essential features of a partnership are all of the following except________

	      Life of partnership is limited because it is a legal entity

	      Partnership is not separated from the partners.

	--->> Partnership involves one person coming into business

	      Setting-up cost is low and it is easy to form

21) Borrowed fund or finance in a business is known as ________

	      Equity

	      Risk

	      Investment

	--->> Debt

l) The short-term liabilities of a firm includes all of the following except______

	--->> Lendings

	      Trade advances

	      Creditors

	      Borrowings

m) The dividend rate for _________ shareholders is not fixed and can vary from year to year depending on the board of directors.

	      Preference

	      Cumulative Preference

	--->> Ordinary

	      Participating Cumulative shares

n) ________is an artificial creature, invisible, intangible, and existing only in contemplation of law. As a legal (artificial) person, it is separate from the owners. It can enter into a contract, sue and be sued in its name.

	--->> limited liability company

	      Agency Relationship

	      partnership

	      Sole proprietorship

o) Cash management is concerned with the managing of the following except________

	      Cash flows into and out of the enterprise

	      Cash flows within the enterprise

	--->> All of the above

	      Cash  balances  held  by  the  enterprise  at  a  point  of  time  by financing deficit or investing surplus cash.

p) _______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

	      Convertible preference shares

	      Participating Cumulative shares

	      Participating Non-Cumulative shares

	--->> Cumulative preference shares

q) The following are the motives for holding cash except_______

	      Transaction motive

	--->> Budgetary motive

	      Precautionary motive

	      Speculative motive

r) The Memorandum of Association of a company must contain the following information except_____-

	      objects for which the company is formed

	      address of the registered office of the effect that the ‘liability’ of the members or shareholders is ‘limited’

	--->> address of the company and the reason why it is in existence

	      name of the company, with the term “Limited” as the last word of the name

s) The following are the main components of working capital management except______

	      Cash Management

	--->> Fixed income

	      Receivables Management

	      Inventory Management

t) The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

	      CBN

	      SEC

	--->> NSE

	      CSCS

u) ___________may be made to attract new and existing shareholders to contribute equity capital

	--->> Public issue

	      External finance

	      Rights issue

	      Preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur
22) There are two kinds of markets, Financial market and _______
ans-  Real assets market
23) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________
ans- Real markets
24) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.
ans-  The Shorter Oxford English Dictionary
25) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______
ans-  Investment Analysis
26) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____
ans-  Capital gain
27) Financial market trades on financial assets which promises future benefits in all of the following except _______
ans-  Promissory notes
28) Who defined finance as the system that includes the circulation of money, the granting of credit, the making of investments and the provision of banking facilities?
ans- Webster’s third International Dictionary
29) The Encyclopedia of Banking and Finance classified finance into three categories except_____
ans- A general term to denote the theory and practice of ralationship management and investment analysis
30) he three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____
ans-  Strategy
31) : The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____
ans-
32) which of the following is the common denominator for the full range of activities performed in the business?

money

33) Finance functions include the following EXCEPT?

liquidity function

34) External finance all the following EXCEPT?

debt

35) The mix of equity and debt id called?

capital structure

36) the provision of money at the time it is required isdescribed as ?.

finance

37) Finance functions include the following EXCEPT.

liquidity function


Budget is
38)
profit plan based

A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____________
d.
Internal Finance

The capital structure is said to be optimum
39)
when the market value of shares is maximized

The financing decisions and practices of the entire economy are related to ___________
40)
Micro Finance

Investment proposals should be analysed and evaluated in terms of both
v)
Expected return and risk

Define Political Risk
d.
These are risks of losses as the result of unforeseen intervention by governments

What is Cash Management?
w)
Managing cash flow in and out of the orgnaisation

Capital market is a metting point for lenders and ............. of long term funds
x)
borrowers

The central issue with Financing Function is the
y)
determination of appropriate proportion of internal (equity) and external (debt)

One important aspect of investment decisions is
c.
Prospective profitability of new investment

Profit planning is related to considering the following main factors except
z)
goodwill


Capital structure is also know as what?
c)
gearing

The dividend rate for ordinary shareholders is not fixed and can vary from year to year depending on the _____________
d.
Board of directors

What is the direction of relationship between Risk and Return in Investment?
c.
Opposite direction

The main components of Working capital management include .................
d.
all of the options

What do shares represent?
d)
Ownership rights of their holders

Finance is better described as what?
e)
money mangement
BFN209  NOUN EXAM





A new capital a company re-acquires from the existing shareholders after distributing all earnings to shareholders is known as _____
Rights Shares

____shows the present statement of a business and the financial condition of an accounting entity as at a particular point in time.
Balance sheet

_____ are not owners of the company, but they provide money to enterprises as loan which are debt.
Creditors



The mix of equity and debt id called?
capital structure

____is the pillar upon which all economic activities stand
Finance

Financial market trades on financial assets which promises future benefits in all of the following except ___
Promissory notes


BFN209 tma1 10/10
The risk that threatens the complete or partial loss of the postponed fruits of effort can be classified into the following except____
Financial risks

Finance functions include the following EXCEPT.
expenditure function

The Encyclopedia of Banking and Finance classified finance into three categories except_____
A general term to denote the theory and practice of ralationship management and investment analysis

Finance evolved from economics as its branch in the early part of the _____ century
20th

Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.
The Shorter Oxford English Dictionary

Another name for the management of money is __________
Finance

The management of Finance is the pillar upon which all ________ activities stand
Economic

Money is the medium of exchange in business, the other two elements are production(operation) and ___________
Marketing

the provision of money at the time it is required isdescribed as ?.
finance

__is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares
Rights Shares

One of the following is not a medium of exchange in business
Investment


92. The internal finance in a business is also known as ____
12. Equity

2)The following are the fields of finance except __
4) Production/Operation

3)The proportion of profits from a firm distributed as dividend is called the_____
c) Dividend payout ratio

4)A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____
c) Internal Finance

7)Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are ____
d) Preference shareholders

8)the field of finance originally covers which of the following
intruments of Finance

10)The common denominator for the full range of activities performed in business is known as __
5) Money


The internal finance in a business is also known as ________
Equity

Without the existence of ___________ No business can survive
Finance

The management of Finance is the pillar upon which all ________ activities stand
Economic

_________ defined Finance as
Oyekanmi (2003)

Another name for the management of money is __________
Finance

One of the following is not a medium of exchange in business
Investment

__________ activities in a business provide goods and services to customers
Operation

In any private or public institution _________ plays an important role
Finance

The common denominator for the full range of activities performed in business is known as __________
Money

The following are all forms of near-money except ________
Preference shares

Buyers of shares are called _______________ and they are the legal-owners of the business whose shares they hold.
Shareholders

____________are for physical or tangible assets such as plant, machinery wheat, office, gold, buildings
Capital market

The common denominator for the full range of activities performed in the financcial sector is ___________
Money

Capital expenditures which are referred to as capital budgeting decision are reffered to as _____________
Investment decisions

_________invest their money in the shares of a company in the expectation of a return on their invested capital.
Shareholders

____________ is called borrowed fund or finance and referred to also as debt.
External Finance

The return on shareholder\'s investment in shares consists of Dividend and ___________
Capital gain

Money is the medium of exchange in business, the other two elements are production(operation) and ___________
Marketing

The proportion of profits from a firm distributed as dividend is called the_____________
Dividend payout ratio

A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____________
Internal Finance


======
BFN209 NOUN PQ
======

2) The short-term liabilities of a firm includes all of the following except______

	--->> Lendings

	      Trade advances

	      Creditors

	      Borrowings

3) The dividend rate for _________ shareholders is not fixed and can vary from year to year depending on the board of directors.

	      Preference

	      Cumulative Preference

	--->> Ordinary

	      Participating Cumulative shares

4) ________is an artificial creature, invisible, intangible, and existing only in contemplation of law. As a legal (artificial) person, it is separate from the owners. It can enter into a contract, sue and be sued in its name.

	--->> limited liability company

	      Agency Relationship

	      partnership

	      Sole proprietorship

5) Cash management is concerned with the managing of the following except________

	      Cash flows into and out of the enterprise

	      Cash flows within the enterprise

	--->> All of the above

	      Cash  balances  held  by  the  enterprise  at  a  point  of  time  by financing deficit or investing surplus cash.

6) _______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

	      Convertible preference shares

	      Participating Cumulative shares

	      Participating Non-Cumulative shares

	--->> Cumulative preference shares

7) The following are the motives for holding cash except_______

	      Transaction motive

	--->> Budgetary motive

	      Precautionary motive

	      Speculative motive

8) The Memorandum of Association of a company must contain the following information except_____-

	      objects for which the company is formed

	      address of the registered office of the effect that the ‘liability’ of the members or shareholders is ‘limited’

	--->> address of the company and the reason why it is in existence

	      name of the company, with the term “Limited” as the last word of the name

9) The following are the main components of working capital management except______

	      Cash Management

	--->> Fixed income

	      Receivables Management

	      Inventory Management

10) The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

	      CBN

	      SEC

	--->> NSE

	      CSCS

11) ___________may be made to attract new and existing shareholders to contribute equity capital

	--->> Public issue

	      External finance

	      Rights issue

	      Preference shares


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Course Code
BFN209


Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur


Try Another Search
BFN209

The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Acquisition of financial resources for the organisation

The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

Investment Analysis

The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

Capital gain

Who defined finance as the system that includes the circulation of money, the granting of credit, the making of investments and the provision of banking facilities?

Webster’s third International Dictionary

The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

Strategy

There are two kinds of markets, Financial market and ______

Real assets market

Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

The Shorter Oxford English Dictionary

The Encyclopedia of Banking and Finance classified finance into three categories except_____

A general term to denote the theory and practice of ralationship management and investment analysis

Financial market trades on financial assets which promises future benefits in all of the following except _______

Promissory notes

Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

Real markets



___relates to financing decisions and practices of individual households, businesses and non-business organisations

Micro Finance
___ defines finance as the art and science of managing money

Gitman (2000)
____ is very important to the firm in the acquisition of long-term funds.

Capital Market
__ relates to the financing decisions and practices of the entire economy



Macro Finance
__ tried to narrow the definition of finance by defining it as the study of the nature and use of the means of payment.

Christy and Roden (1973)
A __ performs the traditional function of managing a firm’s cash position to guarantee liquidity

Financial Manager
Financial market and ___ are the two kinds of markets

Real assets market
The ____ is the market that serves as an intermediary between fund-raisers and suppliers of capital*Nigeria stock exchange*
___ is the management of current or short-term assets and short-term liabilities of a firm

Working Capital
The Financial Manager's roles are all Financial Management, Profit planning and ___

Fund allocation
____shows the present statement of a business and the financial condition of an accounting entity as at a particular point in time.

Balance sheet
Internal Finance which is also known as equity fund/finance is referred to as ___

Equity
Shareholders invest their money in the shares of a company in the expectation of a return on their invested capital. The return consists of dividend and_____

capital gain
____shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders.

Preference
_____is the management of current or short-term assets and short-term liabilities of a firm

Working Capital
The Financial Manager's roles are Financial management, Profit planning and ____

Fund allocation
Finance decisions influence Growth, Size and ____

Productivity
Shareholders invest their money in the shares of a company in the expectation of a return on their invested capital. The return consists of dividend and_____

capital gain
____shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders.

Preference
Shareholders invest their money in the shares of a company in the expectation of a return on their invested capital. The return consists of dividend and_____

capital gain
____consists of all transactions plus other events that are not investing or financing activities.

Operating Activities
Profit planning is the operating decisions in the areas of ___, costing of the volume of output and the firm’s product lines selection.

Pricing
The proportion of profits distributed as dividend is called ____

dividend-pay-out ratio
____are risks that some accident may destroy or spoil some physical goods created by the work financed.

Physical Risks and Finance
Investment decisions involve capital expenditures which are referred to as ____

capital budgeting decision
Shareholders can be of two types ____and Preference

Ordinary
The main components of Working capital management are Cash management, Receivables management and ___

Inventory management
____activities consist of cash flows relating to liability and owners’ equity.

Financing
The____ enables management to explain the changes in cash and cash equivalent production.

cash statement
_____is a tool to avoid excessive and inadequate levels of inventories and maintain sufficient inventory for the smooth operations of the enterprise in terms of production and sales output.

Inventory management
Profit planning is related to considering four main factors: fixed costs, variable costs, selling price and ____

sales volume
The____ is the retained portion of profits

retention ratio
The_____ is determined by its impact on the shareholder’s value.

dividend policy
____ is called borrowed fund/finance and is solely owned/contributed by the stakeholders within

External Finance
A firm/business can sell shares to acquire ____

equity funds
____may be defined as the provision of money at the time it is required.

Finance
_____provides the means in which the enterprise can control its relationship with its external environment and at the same time, it is controlling its internal operations accordingly (control-in-the-small).

Pricing policy
The management of current or short-term assets and short-term liabilities of a firm is called_____

working Capital
_____ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Financial management
There are two kinds of markets, Financial market and ___

Real assets market
____involves graphing the variables to identify the pattern for a given number of years

Model identification
____helps to identify the inputs required

12) Budgeting *
The____ is very important to the firm in the acquisition of long-term funds.

Capital market
_____are entitled to fixed dividend payment as different from equity shareholders which are entitled to variable dividend payments.

Ordinary shareholders
_____ allow for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Cumulative preference shares
____risks arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Technical Risks and Finance
____shows the present statement of a business and the financial condition of an accounting entity as at a particular point in time.

Balance sheet
___ is called borrowed fund and is also referred to as a debt

External Finance
____shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Convertible preference shares
____is the amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning

Profit
____may be defined as the provision of money at the time it is required.

Finance

___ can be likened to a lubricant

Finance

Internal Finance known to as equity fund/finance is referred to as ____.

Equity

A firm/business can sell ___ to acquire equity funds.

Shares

Real markets are for physical or ____ assets.

Tangible

___ shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders.

Preference

Public issue may be made to attract new and the existing shareholders to contribute equity __

Capital

Investment decisions involve capital expenditures which are referred to as capital ___ decision.

Budgeting

___ and profitability affect investment in current assets in business organizations.

Liquidity

Political Risk and Finance are risks of ___ as a result of unforeseen intervention by governments.

Losses

____ mechanism system is a vital organ of a market economy.

Price

Risk is the expected ___ of the income flow.

Variability

Pandey __ stated that the basis of the theory of financial management.

2005

Financial Manager is the person responsible for performing __ functions.

Finance

Profit____ function is one of the acquired roles of the Finance Manager.

Planning

Fixed costs remain constant while ___ costs change in direct proportion to changes in volume of goods.

Variable

Financial statement is also used for future plans of the ___.

Enterprise

Balance sheet shows the present ___ of a business.

Statement

____ is otherwise known as profit and loss account.

Income statement

Financing Activities consist of cash flows relating to __ and owners’ equity.

Liability

Pricing policy provides the means in which the enterprise can control to a __

Degree

Working capital management refers to the management of current or _-term assets and short-term liabilities.

Short

Cash management focuses on managing ___ in and out of an enterprise.

Cash flows

Business need to hold cash to achieve the following transactions, precautionary and ____

Speculative

Short-term sources of funds represent __ liabilities funds owed.

Current

___ could be used to raise short-term funds in a number of ways.

Stocks

Shares which rank above equity shares are the __ shares.

Preference

Planning involves the ____ of objectives and the means of achieving them.

Selection

Estimation of parameters is the determination of the functional relationship or __ expression

Algebraic

Finance evolved as a branch of economics in the later part of the ____ Century.

19th

____helps to identify the output desire

Planning

______ helps to identify the inputs required

Budgeting

____ are normally redeemed after a fixed period of time.

Redeemable preference shares

____ is a class of shareholders entitled to participate in the residual profit of a firm in addition to the cumulative fixed dividend rate

Participating Cumulative Preference Shares

A promissory note is also known as ___

Bill finance

Finance decisions influence all of the following except____

Control

____consists of cash flows relating to liability and owners’ equity.

Financing Activities

The following are steps in forecasting process except___

Factoring

Finance is related to the following disciplines except __

Geography

The following are various types of preference shares except____

Ordinary shares

___is a selection of objectives and the means of achieving them

Planning

The following are three types of leases except___

Investing lease

One of the following is not a function of the finance manager

Pricing

Two major external sources of long-term funds are Financial Institutions and ____

Capital market

The following are sources of short-term funds except____

Trade finance

The class of shares which ranks above equity shares are __

Preference shares

The following are the motives for holding cash except___

Budgetary motive

___is the meeting point for investors(lenders) and firm's borrowers

Capital market

____is a statement that records the financial activities of a particular business organisation

Financial statement
The following are the fields of finance except __

Production/Operation
Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur
Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur
Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur

Cash management, Receivables management and Inventory management are main components of which of the following?
.
cash flow

What is a Financial Statement?

.
It is a statement that records financial activities of a particular business organisation.

What returns does a shareholder expect from his/her investment?
.
Dividend and capital gains

The limitations of profit maximization include ,,,,,,,,

.
vague

What does the abbreviation IPO represent?

.
Initial Public Offering

What can a firm/business acquire when it sells shares?

.
Equity funds

Which of the following is not a main component of the financial statements?
.
statement of profit

What\'s the difference between shareholders and stockholders?
.
In practice, there\'s no difference between the two

What designation do you consider least appropriate for the head of the finance function?
.
Managing Director, Finance.

Identify the one that\'s not an elementary fact about Receivables

.
It implies the purchaser must pay at the point os sale of good/serbvice

The ____________ of a firm is said to be at optimum when the market value of shares are maximized.
.
Capital structure

Which fubction do you consider inappropriate for the Treasurer?
.
Supervision of Production staff

The following are steps in the process of forecasting except_____
.
Factoring

The shareholders return on the shares of a company consists of Dividend and __________
.
Capital gain

======
BFN209 NOUN EXAM




13) The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

14) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

15) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

16) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

17) The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

18) Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

19) Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

20) The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

21) There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

22) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary




6) Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

7) The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

8) There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

9) Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

10) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

11) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

12) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

13) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

14) The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

15) The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.




Which of the following is not one of the three types of leases
Question 1Select one:

a.
Investment lease

In any private or public institution _________ plays an important role

Finance


What does the abbreviation SEO represent?

Seasoned Equity Offering

Whichessentially is not the duty of the Finance Manager?

Procurement of raw materials for manufacturing


Which of the followingis not a motice for holding cash?
Question 5Select one:

a.
pecuniary


The cost that changes in direct proportion to changes in volume of goods is called?

variable cost

The financing decisions and practices of the entire economy are related to ___________

Macro Finance

What item is not supposed to be found on a standard Balance Sheet?

Food and Beverages

The mix of equity and debt id called?

capital structure

Why do people buy shares?

For investment purposes - to make returns or money.

A selection of objectives and the means of achieving them is known as _________
Question 1Select one:


Planning

What do you call dividend payments which are deferred if a firm does not make adequate profit to pay such dividends?

Cumulative preference shares


The common denominator for the full range of activities performed in business is known as __________
Question 3Select one:

a.
Money




The Encyclopedia of Banking and Finance classified finance into three categories except_____
Question 4Select one:

a.
A general term to denote the theory and practice of ralationship management and investment an



Capital structure is also know as what?

gearing


the field offinance originally covers which of the following?

Fiancial payment


Which of the following is not a main component of the financial statements?
Question 7Select one:

a.
statement of profit


_________ defined Finance as ""money affairs or money matters "
Question 8Select one:

a.
Oyekanmi (2003)


What two markets are you farmiliar with in Finance?
Question 9Select one:

a.
Financial and real assets


The expected variability of the income flow is known as ...........

risk

A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____________
Question 8Select one:

a.
Internal Finance


Who defined finance as the Art and Science of managing money?

Gitman (2000)


The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

Investment Analysis


BFN209 TMA2 10 Which of the following bodies is the regulator and monitor of activities in the Nigerian Capital Market?
SEC Capital structure is also know as what?
Gearing 

Fund raising is usually done to cover the following EXCEPT?
Dividend payout Balance sheet isnow called?
Statement of financial position The limitations of profit maximization include the following EXCEPT?
Ignores return The cost that changes in direct proportion to changes in volume of goods is called?
Variable cost Weath and profit maximizations are goals of ?
Finance 


Which of the following is an example of fixed asset?
Building 


Which of the following is not a key role of the Finance manager?
Setting the vision and mission Which of the following is not a main component of the financial statements?
Statement of pofit


Bfn209
 Public Issue may be made to attract new and the existing shareholders to contribute equity (Capital)
Political Risk and Finance are risks of _______ as the result of unforeseen intervention by governments.
Political Risk and Finance are risks of _______ as the result of unforeseen intervention by governments. (Loses)
 Internal Finance known to as equity fund/finance is referred to as ________. (Equity)
 Investment decisions involve capital expenditures which are referred to as capital _________ decision. (Budgeting)
eal markets are for physical or ________ assets. (Tangible)
may be defined as the provision of money at the time it is required.(Finance)
 A firm/business can sell _______ to acquire equity funds. (Shares)
shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders (Preference)
can be likened to a lubricant (Finance)
and profitability affect investment in current assets in business organizations. (Liquidity)
________________________________________


Bfn209
 Balance sheet shows the present _______ of a business. (Statement)
 Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
 Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
 ________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)


1. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called Real Markets (Ans)
2. Who defined finance as the system that includes the circulation of money, the granting of credit, the making of investments and the provision of banking facilities : Answer Webster third international dictionary.

3. There are two kinds of markets, Financial market and (ans) Real assets markets
4. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except (ans) acquisition of financial resources for the organization.
5. Who define finance as to lend, to settle debt, pay ransom, furnish, and procure. Ans: The shorter Oxford English Dictionary
6. The Encyclopedia of Banking and Finance classified finance into three categories (ans)A general term to denote the theory and practice of ralationship management and investment analysis
7. Financial market trades on financial assets which promises future benefits in all of the following except __Ans: promissory notes.
8. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except____investment analysis
9. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except Ans(strategy)
10. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and (ans) capital gain.




Bfn209
 Balance sheet shows the present _______ of a business. (Statement)
 Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
 Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
 ________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)
BUS205
 ___________ is a means by which power is acquired, exercised and sustained. (Communication)
Non __________ income is used to buy items to meet basic needs. (Discretionary)
_________motivation also causes you to be loyal to certain shops and companies. (Patronage)
 __________ is a book in which particulars of all monies received or paid are recorded. (Cash Account)
___________ is the value that products and sellers place on goods or services. (Price)
 Social __________ is owed by individuals and not by organizations. (Obligation)
 _______ researchers also gather information from a wider group of people. (Market)
The _______ is the total amount supplied by owner of the business or owners equity or net worth. (Capital)
 __________ must be attractive. (Packaging)
 ________include the resources possessed by the firm. (Assets)
BUS207
 Verbal communication is one way for people to communicate ______________. (Face to face)
 
The actual origin of ___________ is subject to considerable speculation(Language)
 If a language is about communicating with signals, voice, sounds, gestures, or written symbols, can animal communications be considered as a ___________? (Language)
The basis of _________________ is the interaction between people. (Communication)
 Animals do not have a __________ form of a language, but use a language to communicate with each another. (Written)
 Some words may be imitative of natural __________, but others may come from expressions of emotion, such as laughter or crying. (Sounds)
Some of the key components of verbal communication are sound, writing, speaking, and ______________. (Language)
 A dialogue is a reciprocal conversation between _______ or more entities, (TWO)
As meaning is assigned to words, language develops, which leads to the ___________ of speaking. (Development)
At birth, most people have vocal cords, which produce __________. (Sounds)


Fund raising is usually done to cover the following EXCEPT?

dividend pay out


__________is made by a company to attract new and the existing shareholders to contribute equity capital.

d.
Public Issue


We may associate in the study of pricing with the problem of control in the large and .............

control in the small


Articles of Association of a company contains the following

Name of the company


Which of the following is not related to Finance?
Question 3Select one:

a.
Law



Two major external sources of long-term funds are Financial Institutions and ________

Capital market



The following are all external finance EXCEPT?

equity





S

December 17, 2025 4:39 PM

Preference shareholders receive dividend at a ?

d.
fixed rate











Hornby (2001) defined finance as the money needed to support........

An activity, project, or program



Maintaining inventories means the following except

fixed costs




The Memorandum of Association must contain the following information except

transfer or transmission of shares



What is one of the key roles of a Finance Manager ?

Budgeting



What does the market price of a business reflect?

Management\'s activity record and decisions




The three key financial decisions (Christy and Roden, 1973) include the following except?

Recovery of asset of non profit organisation




What crucial role is played by finance staff?

Managing the flow of funds



All the following are long term funds except?

Bankers acceptances




Which of the following is a limitation of profit maximization 
It ignores the timing of returns.


The field of finance is broad and ?

dynamic



Financial sources or funds available to a business organization could be classified into the following except

infinite term


When a company re-acquires new capital fromexisting shareholders, it is called?

right issue



What is described as the provision of money at the time it is required?
Question 10Answer

finance



which of the following is not a central role of finance manager?

planning of manpower needs





The risks that some accident may destroy or spoil some physical goods created by the work financed is described as ?
Question 9Answer

a.
physical risk





According to Oyekanmi (2003), finance is defined as .........

Money affairs or money matters





What is considered the common denominator for the full range of activities performed in business?

Money




which of the following is the most liquid asset?
Question 7Answer

a.
cash




which of the following is not a risk of finance?
Q
c.
technical risks




Which of the following is NOT part of the original field of finance?

Marketing strategies



what is the expected variability of the income flow?
Question 1Answer

a.
risk



In the context of finance, which department is responsible for estimating the level of sales for various pricing policies?

Sales department





The finance manager should be able to find answers to the following questions except?

How should the manager spend his holiday allowance?



Which of the following is not profit maximization limitation?

it is sharred




Profit planning is related to considering four main factors which include the following except?

residual income


What may be expressed as the amount a business can spend in a period and be as ?well off? at the end of the period than as at the beginning?
Question 4Answer

a.
income



Which of the following financial market is share traded?

capital market



What is the new name for balance sheet?

Statement of Financial position




Which of the following is not a main component of financial statement?
Question 7Answer

a.
Retained profit




Pandey (2005) stated that the basis of the theory of financial management is the same as that of maximisation of owners??
Question 6Answer

a.
welfare



Financial sources or funds available to a business organization could be classified into the following except

infinite term



All the following are long term funds except?

Bankers acceptances



which of the following relates to financing decisions and practices of individual households, businesses and non-business organisations?

Micro finance




What crucial role is played by finance staff?

Managing the flow of funds





Which of the following is not an example of short term sources of finance?
Question 9Answer

a.
share



What is the primary financial goal of a business firm?

Shareholders\' wealth maximization




The Memorandum of Association must contain the following information except
Question 8Answer

a.
transfer or transmission of shares






What does the market price of a business reflect?

c.
Management\'s activity record and decisions




Which of the following is not a basic feture of partnership business?
Question 7Answer

a.
Life of partnership is limited because it is a legal entity





The three key financial decisions (Christy and Roden, 1973) include the following except?
Question 6Answer

a.
Recovery of asset of non profit organisation











Deferred tax payment is a good example of which type of finance?
Question 1Answer

a.
short-term sources



____________ is called borrowed fund or finance and referred to also as debt.

External Finance



Shareholders can be of two types Ordinary and _______

Preference shares


The Finance functions include the following except

Liability decision


What is very important to the firm in the acquisition of long-term funds?

Capital Market


The dividend rate for _________ shareholders is not fixed and can vary from year to year depending on the board of directors.

Ordinary

What is Working Capital Management?

Management of current or short-term assets and short-term liabilities

Finance functions include the following EXCEPT?

expenditure function

What type of market is Real Market?

For trading on physical or tangible and intangible goods.


___________ are not owners of the company, but they provide money to enterprises as loan which are debt.

Creditors


Which one is not a step in Cash Management?

a.
Disbursement of cash balances




A type of risk that some accident may destroy or spoil some physical goods created by the work financed is called ___________

Physical Risks and Finance



The main components of Working capital management include .................

all of the options





BFN209 List of Questions

Latex formatted questions may not properly render

Q1 What is Inventory Management?
Inventory management is a tool to avoid excessive and inadequate levels of inventories and maintain su ficient inventory for the smooth operations of the enterprise in terms of production and sales output
Q2 Identify the one that's not an elementary fact about Receivables
It implies the purchaser must pay at the point os sale of good/serbvice

Q3 What's another name for Trade Debtors?
Account Receivable

Q4 Which alternative is not a motive for holding cash?
Reconciliation motive

Q5 What is not a the source of Cash?
Personal contributions

Q6 Which one is not a step in Cash Management?
Disbursement of cash balances

Q7 What is Cash Management?
Managing cash flow in and out of the orgnaisation

Q8 Which one is not a component of Working Capital Managemenet?
Capital Management

Q9 Who ordinarily is not a user of Financial Statement?
Teachers in public schools

Q10 Which alternative is not a benefit of cash flowanalysis?
To assess the competence of Management

Q11 Which is an element of income statement?
Al alternatives
Q12 Which is not a component of short-term assets?
Creditors Investments

Q13 What is Working Capital Management?
Management of current or short-term assets and short-term liabilities

Q14 In a producing enterprise which one is not an inventory?
Current liabilities

Q15 What are Inventories?
The balance of goods on hand

Q16 What's another name for Accounts Receivables?
Trade debtors

Q17 Why is Pricing important?
It is the main source of revenue for the organisation

Q18 Why is Cost Control important?
It has a tendency to a fect a lother factors.

Q19 Profit planning is related to considering these factors,except
location costs

Q20 Budget is profit plan based

Q21 What itemare you not expected to see on an Income Statement?
Sta f overdraft
Q22 What item is not supposed to be found on a standard Balance Sheet?
Food and Beverages

Q23 The pro forma (typical) financial statement of an enterprise is shown below. It is made up of the following,except:
Sta f loans book.

Q24 Financial statement analysis is used
Sta f appraisal purpose.

Q25 What is a Financial Statement?
It is a statement that records financial activities of a particular business organisation.
Q26 What is the main function of the Securities and Exchange Commission?
It is the apex regulatory organisation for the Nigerian capital market.

Q27 What is the Nigerian CapitalMarket called?
Nigerian Stock Exchange

Q28 What is the Capital market?
It is the meeting point for investors (lenders) and firms (borrowers).

Q29 Which one is excluded? Profit planning is an aid to anticipating the relationships among
Location

Q30 What is meant by the cost structure of the business organization?
The mix of fixed and variable costs.
Q31 Which is least true? Finance decisions influence the
position

Q32 Which one alternative is not true of the Financial Manager?
S/he is the Chief Executive O ficer of the organization.


Q33 Which one alternative may not pass as goal of of the firm?
Perpetuationino fice of the Finance Manager

Q34 In the market economy of a country, what determines prices of goods and service?
Forces of demand and supply

Q35 Which fubction do you consider inappropriate for the Treasurer?
Supervision of Production sta f

Q36 What designation do you consider least appropriate for the head of the finance function?
Managing Director, Finance.

Q37 The smaller business
consolidates many duties in fewer sections and units.

Q38 The finance function to staff and departments will be dependent upon
the size and magnitude of the business organisation.

Q39 Whichessentially is not the duty of the Finance Manager?
Procurement of raw materials for manufacturing

Q40 Which alternative is not an important routine finance functions?
None of the alternatives

Q41 What is the direction of relationship between Risk and Return in Investment?
Opposite direction

Q42 Which one is not a way of avoiding or reducing risk?
Choosing a completely di ferent course of action or alternative

Q43 Define Political Risk
These are risks of losses as the result of unforeseen intervention by governments.


Q44 Economic risks include the follwing except
damage to physical goods

Q45 What does Technical Risk measure?
The chance that the competence of workers may be doubtful and not reach required standard
Q46 Which is not a common risk in Finance?
Future risk

Q47 Liquidity of an enterprise is affected by the level of management of current asset

Q48 What is dividend-payout ratio?
The proportion of profits distributed as dividend

Q49 The proportion of distribution of profit and the balance retained is subject to the following except
the prevailing political situation

Q50 The capital structure is said to be optimum
when the market value of shares is maximized

Q51 What is meant by Capital Structure? The mix of equity and debt financing

Q52 The  central issue  with Financing Function is  the determination of appropriate proportion of internal (equity) and external (debt)

Q53 Investment proposals should be analysed and evaluated in terms of both
Expected return and risk

Q54 One important aspect of investment decisions is

Prospective profitability of new investment
Q55 Investment decisions involve capital expenditures which are referred to as
Capital budgeting decision

Q56 The Finance functions include the following except
Liability decision

Q57 What is Right Issue?
These are share alotted to existing shareholders as alternative to cash dividends.

Q58 What does the abbreviation SEO represent?
Seasoned Equity O fering

Q59 What does the abbreviation IPO represent?
Initial Public O fering

Q60 Why is preferred share given preference over ordinary share? It has fixed rate of dividend and is ranked higher in payment of dividend
Q61 Which one is not a financial asset?
Services.

Q62 What type of market is Real Market?
For trading on physical or tangible and intangible goods.

Q63 What are the commodities traded at the financial market?
Financial assets

Q64 Which is not a type of shareholder?
Secondary share

Q65 What two markets are you farmiliar with in Finance?

Financial and real assets

Q66 What returns does a shareholder expect fromhis/her investment?
Dividend and capital gains
Q67 Why do people buy shares?
For investment purposes - to make returns or money.

Q68 What's the difference between shareholders and stockholders?
In practice, there's no di ference between the two

Q69 Buyers of shares are called shareholders/stockholders and they are the legal-owners of the business whose shares they hold.
True

Q70 What do shares represent?
Ownership rights of their holders.

Q71 What can a firm/business acquire when it sells shares?
Equity funds

Q72 What's the alternative name for External Finance?
Debt

Q73 What's the alternative name for Internal Finance?
Equity

Q74 There are two types of financing an enterprise can apply, namely
Internal and external

Q75 For the organisation to survive
its income must be greater than the expenses

Q76 What does the Business (Working) Cycle depict?
Demonstrates the way funds flow through business

Q77 All three elements except one must be held in balance to enable optimum utilization of the resources of the enterprise.
Education

Q78 What do you understand by this statement: "Money is the common denominator for the full range of activities performed in the business"?
Al aspects of business activities require money

Q79 What originally did the field of finance not cover?
Financial Econometrics

Q80 What is Finance?
It is money a fairs or money matters



BFN209 List of Questions

Latex formatted questions may not properly render

Q1 Business need to hold cash to achieve the following motives except
Social

Q2 The aimof cash management is to maintain adequate control over cash position to be able to keep the enterprise sufficiently liquid and to use excess cash in some profitable way.
True

Q3 Which of the following is a components of short-term liability
creditors

Q4 Which of the following is not a components of short-term asset
creditors

Q5 Working capital management refers to
to the management of current assets and liabilities

Q6 Basic elements of cash flow include the following except
Marketing Activities

Q7 An enterprise???s long- termprojected plan should not reflect its long-termpricing policy.
False

Q8 Pricing policy provides the means in which the enterprise can control to a degree, its relationship with its external environment and at the same time, it is controlling its internal operations accordingly.
True

Q9 Budget is the ?????????... plan base
Profit

Q10 Profit planning is related to considering four main factors, namely
fixed costs, variable costs, se ling price and sales volume.

Q11 Every corporate business Firmstates categorically the following except
turnover

Q12 Profit maximization objective is always clear.
False

Q13 Pandey (2005) summarised profit maximization limitations as follows except
It is certain

Q14 ????????????. is a vital organ of a market economy, showing the goods and services required in the community.
Price mechanism

Q15 In the market economy of a country, prices of goods and services are determined
by the forces of demand and supply.
Q16 The Treasurer is an active participant in long -range financial planning.
True

Q17 The accounting and control function for the finance manager includs the following except
Capital market conditions

Q18 Planning funds for operations and capital budgeting is a joint decision-making process conducted by personnel in the following department except
Account

Q19 The framework and responsibility for pricing/costing policy are jointly determined by the
marketing/sales department and financial planning staf .

Q20 Finance manager's duties include the following except
Sourcing production materials

Q21 Retained earnings is also known as

Undistributed profits

Q22 The following are products of financial market except
Patent

Q23 Shareholders can be of two types and they are ?????????
Ordinary and Preference.

Q24 The return to shareholders consists of ????????????.
dividend and capital gain

Q25 Which one of the following is not an example of external finance
Equity

Q26 Money is not the common denominator for the full range of activities performed in the business.
False

Q27 Money is the medium of exchange in business; the other two elements are
production and marketing.

Q28 Finance evolved from----------
Economics

Q29 Which one of the following is not an example of money or near-money according to Anao (1993).
Fund

Q30 Oyekanmi (2003) defined finance

???as money af airs or money matters???.

FBQ1: Finance plays a very important role in any
----------- activities Answer: Business

FBQ2: A business is a concern, an enterprise, or organization set up by an individual or group of individuals for the purpose of making	from
operations of the concern. Answer: Profit

FBQ3: Finance may be defined as the provision of money at the time it is-----------
Answer: Required

FBQ4: The --------- are expected to be arranged in such a way that fund (money) is always available to make necessary payments as they arise.
Answer: Inflows

FBQ5: Oyekanmi (2003) defined finance “as money affairs or money	â€
Answer: Matters

FBQ6: According to Hornby (2001), finance is the money need or needed to--------- an activity, project, programme etc. and or the management ofmoney.
Answer: Support

FBQ7: -------- evolved from economics as its branch in the early part of the 20th century Answer: Finance

FBQ8: Money is the common ---------- for the full range of activities performed in the business.
Answer: Denominator

FBQ9: ----------- is the medium of exchange in business
Answer: Money

FBQ10: A ------- generates whatever capital it needs and utilizes it in activities which generate returns on invested capital
Answer: Firm

FBQ11: Internal finance is also known to as -------
fund/finance Answer: Equity

FBQ12: External finance is also known to as -------
fund/finance Answer: Borrowed

FBQ13: The equity fund/finance is solely owned
by ------------------
Answer: Shareholders

FBQ14: Buyers of shares are called
------------------------
Answer: Shareholders

FBQ15: Shareholders invest their money in the shares of a company in theexpectation of a return on their invested ----------- .
Answer: Capital

FBQ16: The return for shareholders consists of
----------- and capital gain. Answer: Dividend

FBQ17: In a financial system, the Household are
also referred to as ____
Answer: Consumers.

FBQ18: ----------- represent ownership rights of their holders
Answer: Shares

FBQ19: Shareholders can be of two types that is, preference and ------------
Answer: Ordinary

FBQ20: There are two kinds of markets, namely real assets and ---------
Answer: Financial

FBQ21: ----------- markets are for physical or tangible assets such as plant, machinerywheat, office, gold, buildings etc.
Answer: Real

FBQ22: Intangible ------------ include copyrights, patent, technical know-how.
Answer: Assets

FBQ23: Financial market trades on ------------
assets
Answer: Financial

FBQ24: ---------- shareholders receive dividend at a fixed rate and they enjoy apriority over ordinary shareholders.
Answer: Preference

FBQ25: A ----------- can also obtain equity funds by retaining earnings available forshareholders. Answer: company

FBQ26: ----------- shareholders they enjoy a priority over ordinary shareholders.
Answer: Preference

FBQ27: A ------------ is a certificate stating the amount of money lent by a holder to the company. Answer: Bond

FBQ28: A business organization performs ----------
functions simultaneously andcontinuously in the normal course of its activities.
Answer: Finance

FBQ29: ---------- decisions involve capital expenditures which are referred to ascapital budgeting decision.
Answer: Investment

FBQ30: Capital structure is the mix of equity and
------------
Answer: Debt

FBQ31: The capital structure is said to be

optimum when the market value of shares is
--------------.
Answer: Maximized

FBQ32: The ----------- of profits distributed as dividend is called the dividend-payout ratio.
Answer: Proportion

FBQ33: The ---------- ratio is the retained portion of profits.
Answer: Retention

FBQ34: The --------- policy is determined by its impact on the shareholder’s value.
Answer: Dividend

FBQ35: Liquidity and ------------ affect investment in current assets in business organizations.
Answer: Profitability

FBQ36: ------------------- of an enterprise is affected by the level of management of current asset.
Answer: Liquidity

FBQ37: Risk of illiquidity (lack of liquidity), in extreme situations, can lead to a business
--------------
Answer: Insolvency

FBQ38: -------------- assets if properly/efficiently managed would safeguard the business organization against risk of illiquidity.
Answer: Current

FBQ39: ------------ risks are risks that some accident may destroy or spoil some physical goods created by the work financed.
Answer: Physical

FBQ40: ------------ risks are those risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan,hence it may fall short of achieving the intention
Answer: Technical

FBQ41: The simplest form of finance is where the whole of finance required by aparticular enterprise is provided by an	--.
Answer: Entrepreneur

FBQ42: Partnership and Limited Liability Company are two main ----------- forms under which people join together on equal terms to provide the finance needed for an enterprise, sharing fully in both risks and profits.
Answer: Institutional

FBQ43: ------------------------ and Limited Liability Company are two main institutional forms under which people join together on equal terms to provide the finance needed for an enterprise, sharing fully in both risks and profits.
Answer: Partnership

FBQ44: The ------------------ oversees or manages

the enterprise’s liquid assets, liabilities, payroll and cashier activities, credits and collections, forecasting, capital budgeting and investment and financing.
Answer: Treasurer

FBQ45: The Treasurer is an active participant in long-range financial -------------
Answer: Planning

FBQ46: In ---------- economy of a country, prices of goods and services aredetermined by the forces of demand and supply.
Answer: market

FBQ47: ----------- mechanism (system) is a vital organ of a market economy, showing the goods and services required in the community.
Answer: Price

FBQ48: The ---------- price is where demand and supply match.
Answer: Equilibrium

FBQ49: ------- is the expected variability of the income flow.
Answer: Risk

FBQ50: Business firms are frequently profit oriented with maximization of profitas the proper
-------------
Answer: Objective

MCQ1: ------------------- defined finance “as money affairs or money mattersâ€.
Answer: Oyekanmi (2003)

MCQ2: --------------- is an
example of external finance Answer: Loan

MCQ3: The return to shareholders consists of …………. and capital gain
Answer: dividend

MCQ4: Money is the common denominator for the full range of activities performed in the business.
Answer: true

MCQ5: According to Anao (1993), which one of the following is an example of money or
near-money?
Answer: Certificate of deposits

MCQ6: Which of the following is not a product of financial market?
Answer: Patent

MCQ7: Finance evolved from accounting Answer: false

MCQ8: Undistributed profits is also known as
----------------
Answer: Retained earnings

MCQ9: The capital structure of a firm could be

defined as -------------
Answer: The mix of equity and debt

MCQ10: ------------------ are risks of losses because of unforeseen intervention by governments.
Answer: Political risks

MCQ11: Economic risks are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan
Answer: false

MCQ12: Shareholders can be of two types, namely preference and --------------------
Answer: Ordinary

MCQ13: Financial decisions is concerned with the acquisition and not disposal of assets through commitment or recommitment of funds on a continuous basis.
Answer: False

MCQ14: Finance manager's duties include Answer: Selecting and evaluating projects

MCQ15: Product pricing/costing policy are jointly determined by the --------------
Answer: marketing/sales department and financial planning staff.

MCQ16: The Treasurer is an active participant in

long-range financial planning. Answer: True

MCQ17: The accounting and control function for the finance manager include
Answer: Tax matters

MCQ18: Price mechanism is a vital organ of a
---------------, showing the goods and services required in the community.
Answer: market economy

MCQ19: Which one is not a limitation of profit maximization according to Pandey (2005)?
Answer: It is certain

MCQ20: Profit maximization objective is not always clear to stakeholders of the firm.
Answer: True

MCQ21: The account manager is responsible for performing finance functions in a firm
Answer: false

MCQ22: Which of the following was not always a major events in the life the firm for raising funds Answer: Annual general meeting

MCQ23: Which one of the following is the regulator of the capital market in Nigeria Answer: The Nigerian Securities and ExchangeCommission

MCQ24: -------------------- is the meeting point for investors and firms
Answer: Capital market

MCQ25: ----------- is an example of fixed asset Answer: furniture and fittings

MCQ26: --------------------- is a book in which receipts and payment of money are recorded Answer: Cash book

MCQ27: Which one is not an example of current liability?
Answer: Trade debtors

MCQ28: Profit after tax is	item
Answer: An income statement

MCQ29: The balance sheet is more important than other financial statements to report the activities and performance of the firm Answer: false

MCQ30: Profit planning is not related to
considering -----------------
Answer: Depreciation

MCQ32: Cash flow element include ----------------
Answer: Investing Activities

MCQ33: --------------- refers to the management of current assets and liabilities
Answer: Working capital management

MCQ34: The aim of cash management is not to maintain adequate control over cash position to be able to keep the enterprise sufficiently liquid and to use excess cash in some profitable way. Answer: False

MCQ35: Components of short-term asset are the following except
Answer: Creditors

MCQ36: Business need to hold cash to achieve the	motive
Answer: speculative

MCQ37: A --------------- have the legal right to enter into a contract, sue and be sued in its name. Answer: limited liability company

MCQ38: Operators of companies are by law to register with ---------------
Answer: Corporate Affairs Commission

MCQ39: The promoters of a limited liability company must apply for registration with …….. Answer: Memorandum and Articles of Association

MCQ40: Long-term sources of funds represent Answer: Debenture

MCQ41: Debenture stocks are normally issued under a firm’s seal
Answer: True

MCQ42: --------------------- are the preference shares that allow for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend
Answer: Cumulative preference shares

MCQ43: Which one is not an example of lease financing?
Answer: Debenture lease

MCQ44: ---------------- convey upon the holders the right to convert these shares into equity shares in accordance with the terms of issues.
Answer: Convertible preference shares

MCQ45: Budgeting helps to identify the -----------
desired Answer: Output

MCQ46: Planning helps to identify the ----------
required. Answer: Inputs

MCQ47: A financial plan is a budget that interprets some elements of a plan in financial terms.
Answer: False

MCQ48: ------------------------ is the financing decisions and practices of individual households, businesses and non-business
Answer: micro finance

MCQ49: Debenture stocks is also known as
--------------
Answer: Corporate bonds

MCQ50: ----------- is a creditor to the firm. Answer: A debenture stock holder

MCQ31: An enterprise’s long-term projected plan should reflect its long-term pricing policy.
Answer: True


Bfn209
Balance sheet shows the present _______ of a business. (Statement)
Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)
BUS205
___________ is a means by which power is acquired, exercised and sustained. (Communication)
Non __________ income is used to buy items to meet basic needs. (Discretionary)
_________motivation also causes you to be loyal to certain shops and companies. (Patronage)
__________ is a book in which particulars of all monies received or paid are recorded. (Cash Account)
___________ is the value that products and sellers place on goods or services. (Price)
Social __________ is owed by individuals and not by organizations. (Obligation)
_______ researchers also gather information from a wider group of people. (Market)
The _______ is the total amount supplied by owner of the business or owners equity or net worth. (Capital)
__________ must be attractive. (Packaging)
________include the resources possessed by the firm. (Assets)
BUS207
Verbal communication is one way for people to communicate ______________. (Face to face)

The actual origin of ___________ is subject to considerable speculation(Language)
If a language is about communicating with signals, voice, sounds, gestures, or written symbols, can animal communications be considered as a ___________? (Language)
The basis of _________________ is the interaction between people. (Communication)
Animals do not have a __________ form of a language, but use a language to communicate with each another. (Written)
Some words may be imitative of natural __________, but others may come from expressions of emotion, such as laughter or crying. (Sounds)
Some of the key components of verbal communication are sound, writing, speaking, and ______________. (Language)
A dialogue is a reciprocal conversation between _______ or more entities, (TWO)
As meaning is assigned to words, language develops, which leads to the ___________ of speaking. (Development)
At birth, most people have vocal cords, which produce __________. (Sounds)
BUS106
It could be argued that the _______ school is identical to the management process school. (Empirical)
Art is the imposition of __________. (Pattern)
___________ are best seen as fundamental or general truth on which other truths depend.(Pinciple)
Gilbreth is known for his work on time and _________studies. (Motion)
Decision theory schools believe in _________decision making. (Rational)
The first principles of management were advocated. (Henry fayol)
There are special areas of management that are not subjected to rigous of(Science)

spend his life working on the difference engine (Babbage)

Management can be define as getting thing done through (Organising)

Management can be define as a team or group of individuals in _________(Organisation)

ECO122

Exports are determined by factors outside the control of the ___ economy (Home)

The two components of import demand is fixed, and at the same time it varies with (Income)

The ____ are guided by the level of income, price level, taste and fashion of the foreign consumers (Spending Decision)

In technical terms, _____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade (Gain from trade)

Gains from trade are the net benefits to agents from allowing an increase in voluntary ______ with each other (Trading)
Import demand changes as______ changes (Income)
Because export is exogenous while a part of import is an increasing function of income, net exports are_____ related to national income/national output (Negatively)
_____ depend on the spending decisions of domestic consumers (Import)
When income rises, the aspect of _____ rises as well and when income falls, it falls (Import demand)
Exports depend on spending decisions made by foreign ____ or overseas firms that purchase domestic goods and services (Consumer)

ECO231

The demand for goods and services is __ (Direct Demand)

The prices paid to the factors of production are called (All of the above)

Reason for the study of factor pricing are (All of the above)

The demand of factor of product can also be Joint Demand because for producer to produce orange he/she has to demand for all the _(factors of production)

The factors needed in the production process are also known as (Production Service)

The factor pricing is concerned with the determination of prices of services of factors of ______ (Production)

To produce goods and services, ____ need the services of factors of production, like land, labour, capital, and entrepreneur (FIRMs)

The theory of distribution is an attempt to explain how income is distributed among the factors of __ (Production)

The employer of factors of production only uses the factors in the production of goods and services to be finally sold in the ____(Product Market)

When workers are engaged or capital are borrowed, it does not offer any direct satisfaction to the ____ (Producer)

The production concept holds that consumers will value products that are highly (Affordable)

Another important role is the discovery of entrepreneurial talent (Agree)

Marketing's first role is to (Stimulate Aggregate potential demand)

Consumerism is an organized movement of citizens and government to fight wars on poor products(Disagree)

Commodity approach in marketing focuses on (Classes of products)

The major goal of an organization to an extent is (Profit)

The product concept holds that consumers value products that offer (High Quality)

Marketing concept holds that organization must first create to satisfy (Needs and want)
One of the significance of marketing is to provide (impulse purchase)

The purpose of marketing concept is to help organizations (Achieve its goal

BFN203

According Gardon (2014), there is a remarked difference between capital gains investing and the game of speculation

The_________ is a document which sets broad parameters for taxation and ancillary matters connected with taxation (National tax Policy

investing is the art of buying and selling an asset for a profit (Capital Gain Investing)

__ is a technique that reduces risk by allocating investments among various financial instruments, industries and other categories (Diversification)

some or all of a loan when the borrower is ins (Credit Insurance)

The steps involved in personal financial planning process Include all of the following except________ (Goal Division)

are options to purchase common stock at a specified price up to a specified date (Warrants)

Is a type of tax (PAYE)

Owning a current and savings account have the same requirements (False)

Ent203

The achievement needs theory was developed by (McCelland)

Which of the following emphasized the risk aspect of entrepreneurship (Cantillon)

Which of the following a pattern of venture capital development (Mid Stage)

Entrepreneurial process include the following stages except? (Profit Planning)

(New Monnies)

VC stands for (Venture Capital)

Which of the following will not support in-house entrepreneurial development in organizations (Bickering)

CIT201
The software that uses the power and speed of a computer machine to perform some mathematical calculations or simulate some real life situations is called a ___ software. (Modeling)

________________________________________

________________________________________

________________________________________

________________________________________

________________________________________
________________________________________

________________________________________

________________________________________






======
BUS106
======

1. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

2. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

3. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

4. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

5. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

6. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

7. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

8. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

9. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

10. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

======
BUS106
======

11. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

12. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

13. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

14. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

15. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

16. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

17. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

18. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

19. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

20. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

======
BUS106
======

21. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

22. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

23. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

24. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

25. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

26. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

27. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

28. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

29. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

30. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

======
BUS106
======

31. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

32. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

33. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

34. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

35. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

36. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

37. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

38. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

39. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

40. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

======
BUS106
======

41. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

42. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

43. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

44. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

45. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

46. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

47. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

48. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

49. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

50. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

======
BUS106
======

51. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

52. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

53. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

54. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

55. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

56. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

57. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

58. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

59. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

60. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

======
BUS106
======

61. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

62. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

63. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

64. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

65. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

66. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

67. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

68. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

69. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

70. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

======
BUS106
======

71. ___is a process of breaking an enterprise into smaller groups and levels.

	--->> Departmentation

	      Staffing

	      Centralisation

	      decentralisation

72. The ___could be formal or informal.

	      business

	--->> Orrganisation

	      Enterprise

	      business letter

73. The ____is a  vehicle for the implementation of a plan.

	--->> system

	      management

	      communication

	      information

74. The effectiveness of a ___depends on how it is implemented.

	      system

	      Department

	--->> plan

	      none on the list

75. ____ is the basic to all managerial functions

	--->> Planning

	      Organising

	      Unity of command

	      Decision making

76. An individual, who gets the thing done is a ____.

	      leader

	--->> manager

	      director

	      organiser

77. ___ normally has a network of goals, objectives and targets.

	      Business

	      Management

	      Enterprise

	--->> Organisation

78. ____deals with a qualitaive and quantitative aspect of manpower in terms of placement.

	      Planning

	--->> Organising

	      unity of command

	      none on the list

79. The functions of a___ can be a line or a staff.

	      system

	--->> Department

	      plan

	      none on the list

80. Some business problems arise due to failing on the ___ grounds.

	      management

	      managing

	--->> ethical

	      decision

Bus106 tma2
10/10
81. Control mud be tailored to position...
And. Monitor
82. Company.......... Are also part of the data
Ans. Records
83. In process of planning in an organizations.......
Is being made
Ans. Decision
84. ......... Distribution, expenditure pattern..
Ans. Income
85. Interview is used interchangeable with
Ans. Selection
86. The technique commonly employed by a....
Ans. Support subordinate
87. In process of planning in an organizations...... Is being made
Ans. Decision
88. The manager must comply with the......
Ans. Legal
89. Organization can broadly be classified as
Ans. Formal/informal organization
90. The managerial functions of leading...
Ans. Influencing


1. ) The word  concerns the laying down of policies
Ans => Administration
2. ) Is the process of transferring information from a sender to a receiver with the information being understood by the receiver
Ans => communication
3. ) The manager must comply with the  requirements for establishing and operating his business
Ans => Legal
4. ) The essence of  lies in checking existing actions againsts some desired results which have been determined
Ans => control
5. ) Providing scheme of control is the responsibility of
Ans => Board or Director
6. ) Control must be tailored to positions, this is necessary so that the right person will  activities in their own field
Ans => monitor
7. )  distribution, expenditure patterns, saving capability of consumer all effect demans
Ans => income
8. ) Flat shaped structure falls under
Ans => wide span of control
9. )  is aimed at calculating or predicting what is likely going to happen
Ans => Forecasting
10. ) The very survival of an   dictate that a certain minimum profit has to be made
Ans => organization




BUS106 TMA3
1) .... of management implies that all managers in the hierarchy perform identical function
* Universality
2) A scholarly grouping of concepts and principles creates a......
* Theory
3)the theory of management is the synthesis of the concepts and principles in.....
* management
4)the principles of management help in subordinate...
* Development
5)Management  system is..... in all formal organization
* identical
6)Every system is made up of.....
* Subsystem
7)Important impacts of principles is that it helped to promote in management....
* Research
8)Management is not an exact..... it deals with people whose behaviours unpredictable and complex
* Science
9)When the goals of the individual and the goals of the organization are the same we have....
* goal congruency
10)...... are abstractions formed from generalization
* Concept





1) .... of management implies that all managers in the hierarchy perform identical function
* Universality
2) A scholarly grouping of concepts and principles creates a......
* Theory
3)the theory of management is the synthesis of the concepts and principles in.....
* management
4)the principles of management help in subordinate...
* Development
5)Management  system is..... in all formal organization
* identical
6)Every system is made up of.....
* Subsystem
7)Important impacts of principles is that it helped to promote in management....
* Research
8)Management is not an exact..... it deals with people whose behaviours unpredictable and complex
* Science
9)When the goals of the individual and the goals of the organization are the same we have....
* goal congruency
10)...... are abstractions formed from generalization
* Concept

1. 	BUS106	Management is as old as _______ organization	,,,,,,,,,,,,,,,,,,,,,human	TMA1
2. 	BUS106	In the pre-industrial period, management was practiced by various part of the world including_______	,,,,,,,,,,,,,,,,,,,,,Africa	TMA1				
3. 	BUS106	The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system	,,,,,,,,,,,,,,,,,,,,,administrative	TMA1				
4. 	BUS106	Ghana's judicial system had both a _______ court and a court of appeal	lower	TMA1				
5. 	BUS106	What is said of Ghana can be said of ________	Mali	TMA1				
6. 	BUS106	Egyptian carried out activities such as the following except	shoemaking	TMA1				
7. 	BUS106	The main _____________ was what to do in order to increase employee productivity	pre - occupation	TMA1				
8. 	BUS106	Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________	management	TMA1				
9. 	BUS106	___________ is often referred to as the father of scientific management	Fedrick W. Taylor	TMA1				
10. 	BUS106	Scientific management is to increase the ____________ of the average employee	output	TMA1				




























======
BUS106
======

91. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

92. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

93. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

======
BUS106
======

11. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

12. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

13. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

14. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

15. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

To a student management is an________________ discipline

academic


Formal leadership occurs when a person is appointed or elected as an _________ figure

91.
authority

_______________ management uses the methods of science in making decision and evaluating its consequenxes

scientific

___________ are best seen as fundamental or general truth in which the other truth depends

principles



The effectiveness of a ___depends on how it is implemented.

plan


One of the most important impacts of principles is that it helped to promote ______________ in management

research



It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________


experiment


The very survival of an _______ dictates that a certain minimum profit has to be made


organization




A ___________ leader cannot function without the authority


formal
























..............................

Wide span of control
Communication
Board of directors
Income
Monitor
Legal
Control
Forecasting
Administration
Organization
Question
Free - reign leadership is also called ______________

Answer
Laissez-faire



Question
One way communication without feedback leades to ___________ and communication breakdown

Answer
misunderstanding



Question
___________ encourages subordinates participation in the decision making process

Answer
participative



Question
__________ is needed when the demands of a task on hand are ambiguous

Answer
directive



Question
The ___________ approach defines leadership in terms of his ability to handle a given situation and is based on his skills in that given area

Answer
situational



Question
Theory states that an analysis of leadership involves not only the individual traits and behaviour but also a focus on the situation

Answer
contingency theory



Question
_________ leadership occurs when a person is appointed or elected as an authority figure

Answer
formal



Question
Based on the elements of leadership function the leadership may be defined as _________

Answer
L = F



Question
Direction must be clear and unambigious an from __________ chain of command

Answer
single



Question
In ___________organisation all managerial and worker role are clearly defined

Answer
role - oriented



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
Free - reign leadership is also called ______________

Answer
Laissez-faire



Question
One way communication without feedback leades to ___________ and communication breakdown

Answer
misunderstanding



Question
___________ encourages subordinates participation in the decision making process

Answer
participative



Question
__________ is needed when the demands of a task on hand are ambiguous

Answer
directive



Question
The ___________ approach defines leadership in terms of his ability to handle a given situation and is based on his skills in that given area

Answer
situational



Question
Theory states that an analysis of leadership involves not only the individual traits and behaviour but also a focus on the situation

Answer
contingency theory



Question
_________ leadership occurs when a person is appointed or elected as an authority figure

Answer
formal



Question
Based on the elements of leadership function the leadership may be defined as _________

Answer
L = F



Question
Direction must be clear and unambigious an from __________ chain of command

Answer
single



Question
In ___________organisation all managerial and worker role are clearly defined

Answer
role - oriented



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
Free - reign leadership is also called ______________

Answer
Laissez-faire



Question
One way communication without feedback leades to ___________ and communication breakdown

Answer
misunderstanding



Question
___________ encourages subordinates participation in the decision making process

Answer
participative



Question
__________ is needed when the demands of a task on hand are ambiguous

Answer
directive



Question
The ___________ approach defines leadership in terms of his ability to handle a given situation and is based on his skills in that given area

Answer
situational



Question
Theory states that an analysis of leadership involves not only the individual traits and behaviour but also a focus on the situation

Answer
contingency theory



Question
_________ leadership occurs when a person is appointed or elected as an authority figure

Answer
formal



Question
Based on the elements of leadership function the leadership may be defined as _________

Answer
L = F



Question
Direction must be clear and unambigious an from __________ chain of command

Answer
single



Question
In ___________organisation all managerial and worker role are clearly defined

Answer
role - oriented



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human
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The major problem that confronting the Nigerian Civil Service is the lack of ___.

objectives

In the pre-industrial period, ____________ was practiced by various part of the world including Africa

management

Management is also seen as a process demanding the performance of ______________ function

specific

job specification specifies____________ requirements and list qualifications both physical and mental necessary to perform the job properly

personal

______ is referred to as the father of the social system approach to organisation.

V. Pareto

Not all people can manage ______________

effectively

____are the monetary measurements.

cost standards

___factors which originate from the nature of the job itself can create job satisfaction.

Motivator

There is a class relationship between the ______________ school and the decision theory school

mathematical

Organisation is second in the ___________ of functions exercised by management

role (www.puredu.net)
(www.puredu.net) (www.puredu.net) 10/10

Gilbreth believed that there was one best way that required _______________ motion

last

The__consults with his subordinates on proposed actions encourages participation from them.

democratic leader

_____________ are people who are primarily responsible for the achievmeent of organizational goals

managers

The main pre - occupation was what to do in order to increase _____________ productivity

employee

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.

autocratic leader

____ requires technical skill and conceptual ability.

Art

Arts requires___________ skills and conceptual ability

technical

To a student management is an academic _____________

discipline

The fourteen principles of management cover all aspects of _______________

management

In the pre-industrial period, ____________ was practiced by various part of the world including Africa

management (www.puredu.net)
(www.puredu.net) (www.puredu.net) BUS106
10/10
To a student management is an academic _____________

discipline

__ are rather seen as best fundamental or general truth on which other truths depend.

Principles

job specification specifies____________ requirements and list qualifications both physical and mental necessary to perform the job properly

personal

One of the major advantages of the ____________ revolution is that it gave birth to accelerated rate of resources accumulation

industrial

____ requires technical skill and conceptual ability.

Art

The __________ principles of management were advocated by Henri Fayol\'s

First

Arts requires___________ skills and conceptual ability

technical

The entrepreneur was forced by competition to engage in ______________ performance

crude

To get _________________ put in their best efforts the manager has to understand people their emotional, physical and interllectual needs

people

Decision theory school group believes in _____________ decision making

rational (www.puredu.net)
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10/10
___factors involve working conditions and can trigger dissatisfaction,if inadequate.

Hygiene

The entrepreneur was forced by competition to engage in ______________ performance

crude

___ involves giving a job greater scope or variety and depth.

job enrichment

The ____________ of communication must be clearly set and known to everyone

channels

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.

autocratic leader

The well - known __________ of Ghana, Mali and Songhai are kown to have had a wonderful administrative system

Kingdom

______ is referred to as the father of the social system approach to organisation.

V. Pareto

____ can be defined as getting things done through others.

Management

On the job management development can be achieved by appointing staff into __

committees

Not all people can manage ______________

effectively (www.puredu.net)
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Management is defined as an art by____________

C.C. NWACHUKWU (1992)

_______________ management uses the methods of science in making decision and evaluating its consequenxes

scientific

A scholarly grouping of concepts and principles creates a/an______________________

theory

Conflict of interest arises when an executive deals with a company in which_____________

it has vested interest

One of the most important impacts of principles is that it helped to promote ______________ in management

research

The effectiveness of a ___depends on how it is implemented.

plan

Marketing objectives increase sales by_____________________

25%

The systems approach to management encourages management to perceive the internal and external environmental factors as an____________whole.

integrated

Areas of management such as planning, decision making and control in the form of mathematical symbols and models is a field called_____________

operational research

Who among these authors created the chat of objectives?

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What Taylor and __________ postulated were based on their experience

Fayol

According to Peter Drucker (1954) a ____________ does not handle people

manager

Supervision and _________ are impossible with communication

leader

According to ____________ chase listening is the other half of talking

Stuart

Fedrick W. Taylor is often referred to as the father of __________ management

scientific

___________ are best seen as fundamental or general truth in which the other truth depends

principles

Gilbreth believed that there was one best way that required _______________ motion

last

Every organisation is _____

purposive

One of the major advantages of the ____________ revolution is that it gave birth to accelerated rate of resources accumulation

industrial

____ can be defined as getting things done through others.

Management (www.puredu.net)
Bus106 tma2 10/10

Control must be tailored to position ____
Monitor

Company ____are also part of the data
Records

In process of planning in an organizations ____ is being made
Decision

____ Distribution, expenditure pattern.
Income

Interview is used interchangeable with
Selection

The technique commonly employed by a ____
Support subordinate

In process of planning in an organizations ____ Is being made
Decision

The manager must comply with the ____
Legal

Organization can broadly be classified as
Formal/informal organization

The managerial functions of leading ____
Influencing
BUS106 TMA3 10/10

92. The _______ of any organization include: Finance, Material, Human, Information and Time resources
	Resources

93. The word ________ concerns the laying down of policies
	Administration

94. The very survival of an _______ dictates that a certain minimum profit has to be made
	Organization

95. The following are examples of different types of trainning except;
	Chairman Training

96. The _______ of any organization include: Finance, Material, Human, Information and Time resources
	Resources

97. ______________ is another criteria or rule to be observed in the process of drawing up a chart
	Line of authority

98. _____________ is aimed at calculating or predicting what is likely going to happen in the future
	Forecasting

99. Company _______ are also part of the data which have to be processed
	Records

100. The following is acriteria or rule for drawing a chart in an organization
	All of the above

101. The managerial function of leading is simply the process of ________ people so that they will contribute to the goals of the organization
	Influencing

______ is the process of transfering information from a sender to a receiver with the information being understood by the receiver
Communication

102. Flat shaped structure falls under;
Wide span of control

103. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields
monitor

104. The very survival of an _______ dictates that a certain minimum profit has to be made
organization

105. The word ________ concerns the laying down of policies
administration

106. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined
Control

107. The manager must comply with the_____ requirements for establishing and operating his business   legal

108. ________ is aimed at calculating or predicting what is likely going to happen in the future
forecasting

109. ________distribution, expenditure patterns, saving capability of consumers all affect demands
Income

110. Providing scheme of control is the responsibility of;Board of directors
Board of directors
The__consults with his subordinates on proposed actions encourages participation from them.

111.
democratic leader

Scientific management was intended to bring about a ___________ mental revolution which must occur in the mind of the workmen and management

complete

In the pre-industrial period, ____________ was practiced by various part of the world including Africa

management


Henri advocated the __________ principles of management

first

___factors which originate from the nature of the job itself can create job satisfaction.

Motivation

The well - known __________ of Ghana, Mali and Songhai are kown to have had a wonderful administrative system

Kingdom

_____________ is aimed at calculating or predicting what is likely going to happen in the future


forecasting

On the job management development can be achieved by appointing staff into __

committees

___ techiques and systems are basically the same regardless of what is being controlled

Control
======
BUS106
======

112. ____ requires technical skill and conceptual ability.

	      History

	      Science

	      Philosophy

	--->> Art

113. Every system is made up of _____

	      open system

	--->> subsystem

	      closed system

	      None on the list

114. The___climate in an industry influences the behaviour of a company.

	      policy

	--->> ethical

	      objectives

	      procedural

115. The major problem that confronting the Nigerian Civil Service is the lack of ___.

	      patience

	      policy

	--->> objectives

	      procedural

116. ____management uses the methods of science in making decisions and evaluating its consequences.

	      Behavioral

	      Human relations

	      HRM

	--->> Scientific

117. __ is one of the most important human activities that permeate all organisations.

	--->> Managing

	      Planning

	      Organising

	      None on the list

118. ____ can be defined as getting things done through others.

	--->> Management

	      Objectives

	      Organisation

	      none on the list

119. __ are rather seen as best fundamental or general truth on which other truths depend.

	      Guildline

	--->> Principles

	      Policy

	      None on the list

120. Every  organisation is _____

	      procedual

	      proactive

	--->> purposive

	      procedural

121. ___of interest occurs whenever an executive deals with a company in which it has vested interest.

	--->> Conflict

	      Dispute

	      Negotiation

	      None on the list

BUS106   NOUN EXAM



To a student management is an________________ discipline

academic


Formal leadership occurs when a person is appointed or elected as an _________ figure

122.
authority

_______________ management uses the methods of science in making decision and evaluating its consequenxes

scientific

___________ are best seen as fundamental or general truth in which the other truth depends

principles



The effectiveness of a ___depends on how it is implemented.

plan


One of the most important impacts of principles is that it helped to promote ______________ in management

research



It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________


experiment


The very survival of an _______ dictates that a certain minimum profit has to be made


organization




A ___________ leader cannot function without the authority


formal


.) The word  concerns the laying down of policies
Ans => Administration

.) Is the process of transferring information from a sender to a receiver with the information being understood by the receiver
Ans => communication

.) The manager must comply with the  requirements for establishing and operating his business
Ans => Legal

.) The essence of  lies in checking existing actions againsts some desired results which have been determined
Ans => control

.) Providing scheme of control is the responsibility of
Ans => Board or Director

.) Control must be tailored to positions, this is necessary so that the right person will  activities in their own field
Ans => monitor

.)  distribution, expenditure patterns, saving capability of consumer all effect demans
Ans => income

.) Flat shaped structure falls under
Ans => wide span of control

.)  is aimed at calculating or predicting what is likely going to happen
Ans => Forecasting

.) The very survival of an   dictate that a certain minimum profit has to be made
Ans => organization








Organization
======
BUS106 NOUN EXAM





123. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income


124. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

125. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

126. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

127. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

128. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

129. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

130. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

131. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

132. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment







133. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

134. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

135. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

136. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

137. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

138. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

139. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

140. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

BUS106 NOUN EXAM


All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human
Clear objectives make for consistency and unity of purpose and__________________
b.
direction

Decision making is fundamental in an organization whether it is small enterprise or_______________
141.
multi-national corporation

The management function of leading is simply the process of _ people so that they will contribute to the goals of the organization
Influencing

The resources of any organization include; finance, material, human, information and _
Time

10/10

Training refers to ______________ and mechanical skills
technical

The following are examples of different types of training except;
Chairman training

The management process school of thought perceives management as a process of getting things done through _________ operating in organized groups
people

The __________ principles of management were advocated by Henri Fayol\'s
First

The _____________ of empirical school is the danger of using the past to judge the present
criticism

One of the fore runners of Fedrick Taylor was__________________
Webber --> supposedly Babbage

The fourteen principles of management cover all aspects of _______________
management

_____ is the process of transfering information from a sender to a receiver with the information being understood by the receiver
Communication

The manager must comply with the_____ requirements for establishing and operating his business
legal

The management process school attempts to establish a _________________ frame work
conceptual

Gilbreth believed that there was one best way that required _______________ motion
last

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.
autocratic leader


The word ________ concerns the laying down of policies
administration

____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver
Communication

The manager must comply with the_____ requirements for establishing and operating his business
legal

The essence of ___________ lies in checking existing actions againsts some desired results which have been determined
Control

Providing scheme of control is the responsibility of;
Board of directors

Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields
monitor

_______ distribution, expenditure patterns, saving capability of consumers all affect demands
Income

Flat shaped structure falls under;
Wide span of control

_____________ is aimed at calculating or predicting what is likely going to happen in the future
Forecasting

The very survival of an _______ dictates that a certain minimum profit has to be made
organization

Managing is one of the most important human activities that _____________________ all organization
permeate

A good ____________ must know the concepts and principles of management
manager

There are special areas of management that are not subject to the ____________ of science
rigours

It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________
experiment

To a student management is an________________ discipline
academic

Management is the __________ or direciton of people towards organizational objectives
guidance

_______________ management uses the methods of science in making decision and evaluating its consequenxes
scientific

A principle describe a _____________ or what should be done if something else happen
relationship

One of the most important impacts of principles is that it helped to promote ______________ in management
research

___________ are best seen as fundamental or general truth in which the other truth depends
principles

Arts requires___________ skills and conceptual ability
technical

It could be argued that the empirical school is ____________ to the management process
identical

Human relations school believes that effective use of human relationship will aid management in realising the organizational ___________
goals

___________ places emphasis on the understanding of employee by management
human relation

Not all people can manage ______________
effectively

To get _________________ put in their best efforts the manager has to understand people their emotional, physical and interllectual needs
people

_____________ are people who are primarily responsible for the achievmeent of organizational goals
managers

There is a class relationship between the ______________ school and the decision theory school
mathematical

Management is also seen as a process demanding the performance of ______________ function
specific

Decision theory school group believes in _____________ decision making
rational

There is no human endeavour that does not require proper_______________ for its proper functioning
management

Managing is one of the most important human activities that _____________________ all organization
permeate

___ techiques and systems are basically the same regardless of what is being controlled
Control

The__consults with his subordinates on proposed actions encourages participation from them.
democratic leader

___factors which originate from the nature of the job itself can create job satisfaction.
Motivator

On the job management development can be achieved by appointing staff into __
committees

___factors involve working conditions and can trigger dissatisfaction,if inadequate.
Hygiene

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.
autocratic leader

The__uses his power very little,if at all,giving subordinates ahigh degree of independence in their operations.
free-rein leader

___ involves giving a job greater scope or variety and depth.
job enrichment

____are the monetary measurements.
cost standards

______ is referred to as the father of the social system approach to organisation.
V. ParetoManaging is one of the most important human activities that _____________________ all organization
permeate

A good ____________ must know the concepts and principles of management
manager

There are special areas of management that are not subject to the ____________ of science
rigours

It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________
experiment

To a student management is an________________ discipline
academic

Management is the __________ or direciton of people towards organizational objectives
guidance

_______________ management uses the methods of science in making decision and evaluating its consequenxes
scientific

A principle describe a _____________ or what should be done if something else happen
relationship

One of the most important impacts of principles is that it helped to promote ______________ in management
research

___________ are best seen as fundamental or general truth in which the other truth depends
principles

Arts requires___________ skills and conceptual ability
technical

It could be argued that the empirical school is ____________ to the management process
identical

Human relations school believes that effective use of human relationship will aid management in realising the organizational ___________
goals

___________ places emphasis on the understanding of employee by management
human relation

Not all people can manage ______________
effectively

To get _________________ put in their best efforts the manager has to understand people their emotional, physical and interllectual needs
people

_____________ are people who are primarily responsible for the achievmeent of organizational goals
managers

There is a class relationship between the ______________ school and the decision theory school
mathematical

Management is also seen as a process demanding the performance of ______________ function
specific

Decision theory school group believes in _____________ decision making
rational

There is no human endeavour that does not require proper_______________ for its proper functioning
management

Managing is one of the most important human activities that _____________________ all organization
permeate

___ techiques and systems are basically the same regardless of what is being controlled
Control

The__consults with his subordinates on proposed actions encourages participation from them.
democratic leader

___factors which originate from the nature of the job itself can create job satisfaction.
Motivator

On the job management development can be achieved by appointing staff into __
committees

___factors involve working conditions and can trigger dissatisfaction,if inadequate.
Hygiene

The __ is dogmatic and expects compliance and leads by ability to without or give rewards and punishment.
autocratic leader

The__uses his power very little,if at all,giving subordinates ahigh degree of independence in their operations.
free-rein leader

___ involves giving a job greater scope or variety and depth.
job enrichment

____are the monetary measurements.
cost standards

______ is referred to as the father of the social system approach to organisation.
V. Pareto

The management process school of thought perceives management as a process of getting things done through _________ operating in organized groups
people

Taylor advocated placing _________________ on a piece work in order to encourage them to earn more
workers

Gilbreth believed that there was one best way that required _______________ motion
last

One of the major advantages of the ____________ revolution is that it gave birth to accelerated rate of resources accumulation
scientific

The management process school attempts to establish a _________________ frame work
conceptual

The __________ principles of management were advocated by Henri Fayol\'s
First

The _____________ of empirical school is the danger of using the past to judge the present
criticism

The entrepreneur was forced by competition to engage in ______________ performance
crude

It could be argued that the empirical school is ____________ to the management process
identical

Taylor believed that each worker was motivated by ______________ need
financial

Taylor advocated placing _________________ on a piece work in order to encourage them to earn more
workers

One of the major advantages of the ____________ revolution is that it gave birth to accelerated rate of resources accumulation
scientific

The entrepreneur was forced by competition to engage in ______________ performance
crude

It could be argued that the empirical school is ____________ to the management process
identical

Taylor believed that each worker was motivated by ______________ need
financial

The main pre - occupation was what to do in order to increase _____________ productivity
employee

The well - known __________ of Ghana, Mali and Songhai are kown to have had a wonderful administrative system
Kingdom

In the pre-industrial period, ____________ was practiced by various part of the world including Africa
management

Scientific management was intended to bring about a ___________ mental revolution which must occur in the mind of the workmen and management
complete

Scientific management was intended to bring about a ___________ mental revolution which must occur in the mind of the workmen and management
complete

Fedrick W. Taylor is often referred to as the father of __________ management
scientific

George Elton _________ is from Austraila
mayo

Henri advocated the __________ principles of management
fourth

The first principles of management were advocated by _____________ and geologist
French engineer

The word ________ concerns the laying down of policies
administration

The essence of ___________ lies in checking existing actions againsts some desired results which have been determined
Control

Providing scheme of control is the responsibility of;
Board of directors

Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields
monitor

_______ distribution, expenditure patterns, saving capability of consumers all affect demands
Income

Flat shaped structure falls under;
Wide span of control

_____________ is aimed at calculating or predicting what is likely going to happen in the future
Forecasting

The very survival of an _______ dictates that a certain minimum profit has to be made
organization

___ techiques and systems are basically the same regardless of what is being controlled
Control

The__consults with his subordinates on proposed actions encourages participation from them.
democratic leader

___factors which originate from the nature of the job itself can create job satisfaction.
Motivator

On the job management development can be achieved by appointing staff into __
committees

___factors involve working conditions and can trigger dissatisfaction,if inadequate.
Hygiene

The__uses his power very little,if at all,giving subordinates ahigh degree of independence in their operations.
free-rein leader

___ involves giving a job greater scope or variety and depth.
job enrichment

____are the monetary measurements.
cost standards

______ is referred to as the father of the social system approach to organisation.
V. Pareto

Control must be tailored to position ____
Monitor

Company ____are also part of the data
Records

In process of planning in an organizations ____ is being made
Decision

____ Distribution, expenditure pattern.
Income

Interview is used interchangeable with
Selection

The technique commonly employed by a ____
Support subordinate

In process of planning in an organizations ____ Is being made
Decision

The manager must comply with the ____
Legal

Organization can broadly be classified as
Formal/informal organization

The managerial functions of leading ____
Influencing

142. _______ distribution, expenditure patterns, saving capability of consumers all affect demands
	marketing
Answer:	Income
	Information
	High income

143. Providing scheme of control is the responsibility of;
	Emplyees
	Management
Answer:	Board of directors
	Middlemen

144. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields
	process
Answer:	monitor
	controlling
	influence

145. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined
	Planning
Answer:	Control
	Organizing
	Management

146. Flat shaped structure falls under;
	Narrow span of control
	Big span of control
Answer:	Wide span of control
	Small span of control

147. The manager must comply with the_____ requirements for establishing and operating his business
	compliance
	registration
	company
Answer:	legal

148. _____________ is aimed at calculating or predicting what is likely going to happen in the future
Answer:	forecasting
	planning
	controlling
	management

149. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver
	Messaging
Answer:	Communication
	Texting
	Internet



16. The effectiveness of a ___depends on how it is implemented.

	      system

	      Department

	--->> plan

	      none on the list

17. ____ is the basic to all managerial functions

	--->> Planning

	      Organising

	      Unity of command

	      Decision making

18. An individual, who gets the thing done is a ____.

	      leader

	--->> manager

	      director

	      organiser

19. Some business problems arise due to failing on the ___ grounds.

	      management

	      managing

	--->> ethical

	      decision

20. ____deals with a qualitaive and quantitative aspect of manpower in terms of placement.

	      Planning

	--->> Organising

	      unity of command

	      none on the list

21. The ____is a  vehicle for the implementation of a plan.

	--->> system

	      management

	      communication

	      information

22. The ___could be formal or informal.

	      business

	--->> Orrganisation

	      Enterprise

	      business letter

23. ___is a process of breaking an enterprise into smaller groups and levels.

	--->> Departmentation

	      Staffing

	      Centralisation

	      decentralisation

24. ___ normally has a network of goals, objectives and targets.

	      Business

	      Management

	      Enterprise

	--->> Organisation

25. The functions of a___ can be a line or a staff.

	      system

	--->> Department

	      plan

	      none on the list


2) __ are rather seen as best fundamental or general truth on which other truths depend.

	      Guildline

	--->> Principles

	      Policy

	      None on the list

3) Every system is made up of _____

	      open system

	--->> subsystem

	      closed system

	      None on the list

4) ___of interest occurs whenever an executive deals with a company in which it has vested interest.

	--->> Conflict

	      Dispute

	      Negotiation

	      None on the list

5) ____management uses the methods of science in making decisions and evaluating its consequences.

	      Behavioral

	      Human relations

	      HRM

	--->> Scientific

6) __ is one of the most important human activities that permeate all organisations.

	--->> Managing

	      Planning

	      Organising

	      None on the list

7) ____ can be defined as getting things done through others.

	--->> Management

	      Objectives

	      Organisation

	      none on the list

8) ____ requires technical skill and conceptual ability.

	      History

	      Science

	      Philosophy

	--->> Art

9) The___climate in an industry influences the behaviour of a company.

	      policy

	--->> ethical

	      objectives

	      procedural

10) The major problem that confronting the Nigerian Civil Service is the lack of ___.

	      patience

	      policy

	--->> objectives

	      procedural

11) Every  organisation is _____

	      procedual

	      proactive

	--->> purposive

	      procedural



bus106


Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human


Try Another Search
BUS106   NOUN EXAM



To a student management is an________________ discipline

academic


Formal leadership occurs when a person is appointed or elected as an _________ figure

150.
authority

_______________ management uses the methods of science in making decision and evaluating its consequenxes

scientific

___________ are best seen as fundamental or general truth in which the other truth depends

principles



The effectiveness of a ___depends on how it is implemented.

plan


One of the most important impacts of principles is that it helped to promote ______________ in management

research



It is often difficult to formulate priniciples in management because of the difficulty in conducting controlled ____________


experiment


The very survival of an _______ dictates that a certain minimum profit has to be made


organization




A ___________ leader cannot function without the authority


formal


.) The word  concerns the laying down of policies
Ans => Administration

.) Is the process of transferring information from a sender to a receiver with the information being understood by the receiver
Ans => communication

.) The manager must comply with the  requirements for establishing and operating his business
Ans => Legal

.) The essence of  lies in checking existing actions againsts some desired results which have been determined
Ans => control

.) Providing scheme of control is the responsibility of
Ans => Board or Director

.) Control must be tailored to positions, this is necessary so that the right person will  activities in their own field
Ans => monitor

.)  distribution, expenditure patterns, saving capability of consumer all effect demans
Ans => income

.) Flat shaped structure falls under
Ans => wide span of control

.)  is aimed at calculating or predicting what is likely going to happen
Ans => Forecasting

.) The very survival of an   dictate that a certain minimum profit has to be made
Ans => organization








Organization
The__consults with his subordinates on proposed actions encourages participation from them.

151.
democratic leader

Scientific management was intended to bring about a ___________ mental revolution which must occur in the mind of the workmen and management

complete

In the pre-industrial period, ____________ was practiced by various part of the world including Africa

management


Henri advocated the __________ principles of management

first

___factors which originate from the nature of the job itself can create job satisfaction.

Motivation

The well - known __________ of Ghana, Mali and Songhai are kown to have had a wonderful administrative system

Kingdom

_____________ is aimed at calculating or predicting what is likely going to happen in the future


forecasting

On the job management development can be achieved by appointing staff into __

committees

___ techiques and systems are basically the same regardless of what is being controlled

Control
Question:  is as old as human organization

Answer:Management



Question: The scientific management school placed special emphasis upon

Answer:production



Question:  is often referred to as the father of Scientific Management

Answer:Frederick W Taylor



Question: Gilbreth is known for his work on time and  studies

Answer:motion



Question: The first principles of management were advocated by a French engineer and

Answer:geologist



Question: The Management Theory Jungle has classified the major schools of management into   broad areas

Answer:six



Question:  are people who are primarily responsible for the achievement of organizational goals

Answer:Managers



Question:   is defined as getting things done through others

Answer:Management



Question: Concepts are the corner stone for the development of and theory

Answer: principles



Question: Goals can be differentiated between official and  goals

Answer:operative



Question: Good organizational goals help in policy  and administration

Answer:formulation



Question: A typical employee goals can be divided into  main groups

Answer:two



Question: One of the major problems confronting the Nigerian Civil Service is the lack of clear

Answer:objectives



Question:  of interest arises when an executive deals with a company in which it has vested interest

Answer:Conflict



Question:  making is one of the most crucial activities of management

Answer:Decision



Question: A decision process is not completed until it is

Answer:implemented



Question:  is one of the highly sought after talents in management

Answer:Creative



Question:  is concerned with directing the human efforts towards organisational goal achievement

Answer:Direction



Question: Directing and comprise the managerial function of guiding overseeing and leading people

Answer:leading



Question: Schneider  refers to organisational climate as the entire internal environment of the organisation

Answer:1975



Question: The mathematical techniques used as aid to decision making are often called

Answer:Operations Research



Question:  theory is often called waiting line theory

Answer:Queuing



Question: Planning has been defined previously as one of the five major functions of management

Answer:five



Question: The most comprehensive definition of planning is given by

Answer:Cyril LHudson



Question: The best known definition of management control is given by Anthony in

Answer:1965



Question: indicate the financial expenditures involved per unit of activity

Answer:Cost standards



Question:  can be expressed as a ratio of net profits to sales

Answer:Profitability



Question: Formal organisation can be seen as a direct opposite of  organisation

Answer:informal



Question: the process of passing information and understanding from one person to another

Answer:Communication



Question: Communication may be divided into two namely  and written

Answer:oral



Question: The scientific management school place special emphasis upon

Answer:production



Question:  of enterprises was also practised by the Babylonians

Answer:management



Question: Industrial revoculion was the period of  awakeing

Answer:intellectual



Question: Scientific management was intended to bring about complete mental

Answer:revolution



Question: Management is as old as  organisation

Answer:human



Question: Taylors principles of management include all except

Answer:classification of programmes



Question: Fredrick W Taylor is often referred to as the of scientific management

Answer:father



Question: The pharahoahs are managers who planned organised and direct the work of the

Answer:surbodinates



Question: In the preindustrial period was practised by various parts of the world

Answer:management



Question: A well documented and properly organised management system was that of the

Answer:Egyptians



Question: Management can be define as getting thing done through

Answer:organizing



Question: Art is the imposition of

Answer:pattern



Question:  are best seen as fundamental or general truth on which other truths depend

Answer:principles



Question: There are special areas of management that are not subjected to rigous of

Answer:science



Question: Gilbreth is known for his work on time and studies

Answer:motion



Question: Management can be define as a team or group of individuals in

Answer:Organisation



Question: The first principles of management were advocated

Answer:Henry Fayol



Question: It could be argued that the  school is identical to the management process school

Answer:empirical



Question:  spend his life working on the difference engine

Answer:Babbage



Question: Decision theory schools believe in decision making

Answer:rational
152. _____________ is aimed at calculating or predicting what is likely going to happen in the future


forecasting

153. Company _______ are also part of the data which have to be processed

records

154. The _______ of any organization include: Finance, Material, Human, Information and Time resources.

resources

155. The following is a criteria or rule for drawing a chart in an organization

All of the above

156. The very survival of an _______ dictates that a certain minimum profit has to be made


organization

157. The word ________ concerns the laying down of policies

administration

158. The resources of any organization include: Finance, Material, Human, Information and ________.


Time resources

159. The managerial function of leading is simply the process of ________ people so that they will contribute to the goals of the organization

influencing

160. ______________ is another criteria or rule to be observed in the process of drawing up a chart

Line of Authority

161. The following are examples of different types of training except;

Chairman training









































1, _______ distribution, expenditure patterns, saving capability of consumers all affect demands

.........Income


26. Organization can broadly be classified as
..........Formal/Informal organization


27. In the process of planning in an organization ________is being made

.........decision


28. The managerial function of leading is simply the process of ________ people so that they will contribute to the goals of the organization


influencing

29. In the process of _______ in an organization, decision is being made

......
Planning

30. The technique commonly employed by a leader to have human relations between him and his employees are;

......Support subordinates



31. Company _______ are also part of the data which have to be processed


records


9, Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

monitor


Interview is used interchangeable with;

............Selection



10, The manager must comply with the_____ requirements for establishing and operating his business

legal
























bus 106 10/10
m. Wide span of control
n. Communication
o. Board of directors
p. Income
q. Monitor
r. Legal
s. Control
t. Forecasting
u. Administration
v. Organization
[3/4, 2:17 PM] NE
Bus106 TMA 1 10/10

w. ) The word  concerns the laying down of policies
Ans => Administration
x. ) Is the process of transferring information from a sender to a receiver with the information being understood by the receiver
Ans => communication
y. ) The manager must comply with the  requirements for establishing and operating his business
Ans => Legal
z. ) The essence of  lies in checking existing actions againsts some desired results which have been determined
Ans => control
aa. ) Providing scheme of control is the responsibility of
Ans => Board or Director
bb. ) Control must be tailored to positions, this is necessary so that the right person will  activities in their own field
Ans => monitor
cc. )  distribution, expenditure patterns, saving capability of consumer all effect demans
Ans => income
dd. ) Flat shaped structure falls under
Ans => wide span of control
ee. )  is aimed at calculating or predicting what is likely going to happen
Ans => Forecasting
ff. ) The very survival of an   dictate that a certain minimum profit has to be made
Ans => organization
FBQ1: _____ used a mathematical equation to arrive at the conclusion that only a narrow span of management would make for efficient management.
Answer: Graicunas

FBQ2: ________deals with the number of subordinates that an executive can manage effectively.
Answer: Span of control

FBQ3: ________promotes delegation and supervision with predictable results.
Answer: Specialization

FBQ4: One of the major factors that promote decentralization is task  ________
Answer: specialization

FBQ5: Effective _________helps managers to spend less time on specific technical activities
Answer: delegation

FBQ6: The principle of _________is sometimes violated where functional authority exists.
Answer: unity of command

FBQ7: _______means answering for the use of your formal authority by someone else.
Answer: Accountability

FBQ8: Duncan ____has indicated that econometric models are used in predicting the student enrolment at universities.
Answer: 1975

FBQ9: _______models are more complex in nature and involve interrelationships of many variables tied together in a quantitative model.
Answer: Causal

FBQ10: ________are the changes that have taken place as a result of economic booms or depressions.
Answer: Cyclical variations

FBQ11: _____is based on the assumption that past activities are good indication of future activities.
Answer: Time series analysis

FBQ12: ______converts company objectives into individual goals and as a result, it contributes to higher levels of job satisfaction.
Answer: MBO

FBQ13: _________is the last in Maslow’s hierarchy of needs.
Answer: Self-actualisation Need

FBQ14: ________ is that energizing force that induces or compels and maintains behaviour.
Answer: Motivation

FBQ15: ______method is ideal for both employee training and management development.
Answer: Coaching

FBQ16: _______ is the determination of the job to which an accepted candidate is to be assigned and his assignment to that job.
Answer: placement

FBQ17: _______ seek to evaluate the applicant’s ability to apply knowledge judiciously in solving a problem.
Answer: Judgement test

FBQ18: _______ is to solicit necessary information from the prospective applicants to assess the applicant’s suitability to the job.
Answer: Preliminary interview

FBQ19: _________ techniques are the means or media by which management contacts prospective employees or provides necessary information.
Answer: Recruitment

FBQ20: _______ is a process of choosing the right candidate from a pool of applicants.
Answer: Selection

FBQ21: ________include mental dexterity, analytical ability, intuitive judgement, alertness and ability to concentrate.
Answer: Psychological characteristics

FBQ22: ______ is a personal power acquired by expertise in a field or area.
Answer: Expert Power

FBQ23: _________ conducted extensive studies in this area and developed a scale to identify different types of leaders.
Answer: Fiedler’s contingency theory

FBQ24: The __________of leadership has suffered from lack of conclusiveness and over-simplifications.
Answer: trait theory

FBQ25: ________ leadership occurs when a person is appointed or elected as an authority figure.
Answer: formal

FBQ26: Leadership is an integral part of management and plays a vital role in _______operations.
Answer: managerial

FBQ27: ________ is often referred to as the father of Scientific Management.
Answer: Abraham Maslow

FBQ28: The Management Theory Jungle has classified the major schools of management into _________ broad areas.
Answer: six

FBQ29: Goals can be differentiated between official and ________ goals.
Answer: Operative

FBQ30: One of the major problems confronting the Nigerian Civil Service is the lack of clear ________.
Answer: objectives

FBQ31: A decision process is not completed until it is _____________.
Answer: implemented

FBQ32: __________ is one of the highly sought after talents in management.
Answer: Creative

FBQ33: ___________theory is often called waiting-line theory.
Answer: Queuing

FBQ34: The best known definition of management control is given by Anthony in _________
Answer: 1965

FBQ35: Employment opportunity is created by _____
Answer: Organisations

MCQ1: ________ is as old as human organization.
Answer: Management

MCQ2: The scientific management school placed special emphasis upon _________
Answer: Production

MCQ3: ________ is often referred to as the father of Scientific Management.
Answer: Abraham Maslow

MCQ4: Gilbreth is known for his work on time and _______ studies.
Answer: Motion

MCQ5: The first principles of management were advocated by a French engineer and ______
Answer: Geologist

MCQ6: The Management Theory Jungle has classified the major schools of management into _________ broad areas.
Answer: Six

MCQ7: ________ are people who are primarily responsible for the achievement of organizational goals.
Answer: Managers

MCQ8: _________is defined as getting things done through others.
Answer: Management

MCQ9: Concepts are the corner stone for the development of________ and theory.
Answer: Principles

MCQ10: Goals can be differentiated between official and ________ goals.
Answer: Operative

MCQ11: Good organizational goals help in policy ________ and administration.
Answer: Formulation

MCQ12: A typical employee goal can be divided into _____ main groups.
Answer: Two

MCQ13: One of the major problems confronting the Nigerian Civil Service is the lack of clear ________.
Answer: Objectives

MCQ14: _______ of interest arises when an executive deals with a company in which it has vested interest.
Answer: Conflict

MCQ15: _______ making is one of the most crucial activities of management.
Answer: Decision

MCQ16: A decision process is not completed until it is _____________.
Answer: Implemented

MCQ17: __________ is one of the highly sought after talents in management.
Answer: Creative

MCQ18: ________ is concerned with directing the human efforts towards organisational goal achievement.
Answer: Direction

MCQ19: Directing and ________comprise the managerial function of guiding, overseeing and leading people.
Answer: Leading

MCQ20: Schneider ________ refers to organisational climate as the entire internal environment of the organisation.
Answer: 1975

MCQ21: The mathematical techniques used as aid to decision making are often called ______
Answer: Operations Research

MCQ22: ___________theory is often called waiting-line theory.
Answer: Queuing

MCQ23: Planning has been defined previously as one of the -------- major functions of management.
Answer: Five

MCQ24: The most comprehensive definition of planning is given by _________
Answer: Cyril L. Hudson

MCQ25: The best known definition of management control is given by Anthony in _________
Answer: 1965

MCQ26: __________indicate the financial expenditures involved per unit of activity.
Answer: Cost standards

MCQ27: ______ can be expressed as a ratio of net profits to sales.
Answer: Profitability

MCQ28: Formal organisation can be seen as a direct opposite of ________ organisation.
Answer: Informal

MCQ29: _________the process of passing information and understanding from one person to another.
Answer: Communication

MCQ30: Communication may be divided into two namely _____ and written.
Answer: Oral

MCQ31: Employment opportunity is created by _____
Answer: Organisations

MCQ32: ______ should help in formulating and articulating ethical norms as part of their social responsibility.
Answer: Nigeria

MCQ33: The areas in which business organisations should play a ________ role in Nigeria are limitless.
Answer: Prominent

MCQ34: _______ tend to increase with increasing task certainty.
Answer: Spans

MCQ35: Mass-production companies have a higher span of management than ________firms.
Answer: Process

Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human



Question
All organiztions are _______

Answer
purposive



Question
___________ is the imposition of a pattern a vision of a whole on many disparate parts so as to create a representation of that vision

Answer
art



Question
__________ is defined as getting thing done through others

Answer
management



Question
To a student __________ is an academic discipline

Answer
management



Question
Some people see__________ as a group of people

Answer
organizer



Question
All people who oversee the function of other people who must work in subordinate position are ________

Answer
managers



Question
There is a class relationship between the _________ school and the decision theory school

Answer
mathematical



Question
The study of group dynamics and interpersonal relationship is ___________ to management

Answer
not limited



Question
What Taylor and Fayol postulated were based on _______

Answer
their experience



Question
__________ is the article of Harold Koontz

Answer
The management theory society



Question
Scientific management is to increase the ____________ of the average employee

Answer
output



Question
___________ is often referred to as the father of scientific management

Answer
Fredric W. Taylor



Question
Scientific management was intended to bring about a complete mental revolution which must occur in the mind of the workmen and __________

Answer
management



Question
The main _____________ was what to do in order to increase employee productivity

Answer
pre - occupation



Question
Egyptian carried out activities such as the following except

Answer
shoemaking



Question
What is said of Ghana can be said of ________

Answer
Mali



Question
Ghana's judicial system had both a _______ court and a court of appeal

Answer
lower



Question
The well - known kingdom of Ghana, Mali and Songhai are kown to have had a wonderful _______ system

Answer
administrative



Question
In the pre-industrial period, management was practiced by various part of the world including_______

Answer
Africa



Question
Management is as old as _______ organization

Answer
human
======
BUS106
======

gg. _______ distribution, expenditure patterns, saving capability of consumers all affect demands

	      marketing

	--->> Income

	      Information

	      High income

hh. The manager must comply with the_____ requirements for establishing and operating his business

	      compliance

	      registration

	      company

	--->> legal

32. Control must be tailored to positions, this is necessary so that the right persons will _______activities in their own fields

	      process

	--->> monitor

	      controlling

	      influence

jj. Providing scheme of control is the responsibility of;

	      Emplyees

	      Management

	--->> Board of directors

	      Middlemen

kk. The essence of ___________ lies in checking existing actions againsts some desired results which have been determined

	      Planning

	--->> Control

	      Organizing

	      Management

ll. _____________ is aimed at calculating or predicting what is likely going to happen in the future

	--->> forecasting

	      planning

	      controlling

	      management

mm. Flat shaped structure falls under;

	      Narrow span of control

	      Big span of control

	--->> Wide span of control

	      Small span of control

nn. The word ________ concerns the laying down of policies

	      manager

	--->> administration

	      management

	      director

oo. ____________ is the process of transfering information from a sender to a receiver with the information being understood by the receiver

	      Messaging

	--->> Communication

	      Texting

	      Internet

pp. The very survival of an _______ dictates that a certain minimum profit has to be made

	      Eenvironment

	--->> organization

	      industry

	      investment

Text File Report


Created by using CSVFileView

qid	crscode	qdescr	opta	optb	optc	optd	qa	tmano	lecnp	udate	facid

13188	
BUS106	 	is as old as human organization.	
	
	
Management	
	
C	
TMA1	TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06


13189	

BUS106	The scientific management school placed special emphasis upon	

production	

	

	
	

A	

TMA1	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:51:35	

F06

13190	
BUS106	 	is often referred to as the father of Scientific Management.	
	
	
	
Frederick W. Taylor	
D	
TMA1	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06

13191	
BUS106	Gilbreth is known for his work on time and	 studies.	
	
motion	
	
	
B	
TMA1	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06


13192	

BUS106	The first principles of management were advocated by a French engineer and	

geologist	

	

	
	

A	

TMA1	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:51:35	

F06



13193	


BUS106	The Management Theory Jungle has classified the major schools of management into
	broad areas.	


	


	


	


six	


D	


TMA1	

TENF06S0202:Sam
Baba Tende	

2018-
09-27
15:51:35	


F06


13194	

BUS106	 	are people who are primarily responsible for the achievement of organizational goals.	

	

	

Managers	

	

C	

TMA1	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:51:35	

F06

13195	
BUS106	 	is defined as getting things done through others.	
	
Management	
	
	
B	
TMA1	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06


13196	

BUS106	Concepts are the corner stone for the development
of	and theory.	

	

	

	

principles	

D	

TMA1	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:51:35	

F06

13197	
BUS106	Goals can be differentiated between official and
	goals.	
	
	
operative	
	
C	
TMA1	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:51:35	
F06

13208	
BUS106	Good organizational goals help in policy
	and administration.	
	
	
formulation	
	
C	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06

13209	
BUS106	A typical employee goals can be divided into	main groups.	
	
two	
	
	
B	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06




13210	

BUS106	One of the major problems confronting the Nigerian Civil Service is the lack of clear	.	

	

	

	

objectives	

D	

TMA2	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06


13211	

BUS106	 	of interest arises when an executive deals with a company in which it has vested interest.	

Conflict	

	

	
	

A	

TMA2	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06

13212	
BUS106	 	making is one of the most crucial activities of management.	
	
Decision	
	
	
B	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06

13213	
BUS106	A decision process is not completed until it is
	.	
	
	
implemented	
	
C	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06

13214	
BUS106	 	is one of the highly sought after talents in management.	
	
	
	
Creative	
D	
TMA2	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:52:54	
F06


13215	

BUS106	 	is concerned with directing the human efforts towards organisational goal achievement.	

	

Direction	

	

	

B	

TMA2	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06


13216	

BUS106	Directing and
	comprise the managerial function of guiding, overseeing and leading people.	

	

	

p	

leading	

D	

TMA2	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06


13217	

BUS106	Schneider
	refers to organisational climate as the entire internal environment of the organisation.	

1975	

	

	

	

A	

TMA2	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:52:54	

F06


13238	

BUS106	The mathematical techniques used as aid to decision making are often called  		
	

	
Operations Research	

	

C	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06

13239	
BUS106	

theory is often called waiting-line theory.	
	
	
Queuing		
C	
TMA3	TENF06S0202:Sam
Baba Tende	2018-
09-27
15:57:13	
F06


13240	

BUS106	Planning has been defined previously as one of the five major functions of management.	

	

	

five	

	

C	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06


13241	

BUS106	The most comprehensive definition of planning is given by	
	
	
	
Cyril L.Hudson	

D	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06


13242	

BUS106	The best known definition of management control is given by Anthony in  		

1965	

	

	

	

A	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06




13243	

BUS106	 	indicate the financial expenditures involved per unit of activity.	
	

Cost standards	
	
	

B	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06

13244	
BUS106	 	can be expressed as a ratio of net profits to sales.	
	
	
	
Profitability	
D	
TMA3	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:57:13	
F06


13245	

BUS106	Formal organisation can be seen as a direct opposite of


organisation.	

	

informal	

	

	

B	

TMA3	
TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:13	

F06


13246	

BUS106	 	the process of passing information and understanding from one person to another.	

	

Communication	

	

	

B	

TMA3	

TENF06S0202:Sam
Baba Tende	
2018-
09-27
15:57:14	

F06

13247	
BUS106	Communication may be divided into two namely	and written.	
oral	
	
	
	
A	
TMA3	
TENF06S0202:Sam
Baba Tende	2018-
09-27
15:57:14	
F06



BUS106 List of Questions

Latex formatted questions may not properly render

Q1 The major organizational goals exclude????????????????????????..
staff lay-off

Q2 A good goal makes the organization while helping to exploit the opportunities to minimize the impact of the
?????????????????????.
risks

Q3 Good goals must possess the following qualities except?????????????????????????????????
they must not specify period of achievement.

Q4 ??????????????????????????????. goal could be implicit and require explicit formulation before they could be realised.
Organisation

Q5 What managers do in organizations includes ?????????????????????
all of the above

Q6 Management function is identical in all ????????????????????????. whether it is a profit-making organization or a "non-profit-making organization.
formal organizations

Q7 In a general sense, the human being is a complex system made up of sub- systems such as the circulatory system, the auditory system, the locomotive system, and so on.
False
Q8 ???????????????????????? is known as the father of scientific management.
Frederick W. Taylor

Q9 A scholarly grouping of concepts and principles creates a??????????????????????????????
theory

Q10 ????????????????????????.. are abstractions formed fromgeneralizations.
Concepts

Q11 Fayol, after more than???????????????????????????.. of practical business experience drewup his principles of management.
40 years

Q12 ???????????????????????????.. are best seen as fundamental or general truth on which other truths depend.
Principles

Q13 A successful manager blends experience with ????????????????????????.. in order to achieve a desired result.
science

Q14 ???????????????????????????.. attempts through systematic procedure to establish the relationships between variables and the underlying principles.
Science

Q15 ????????????... is an imposition of order on chaos.
Art

Q16 Gilbreth believed that there was one best way which was believed to be the way that required the
????????????????????????
least motion

Q17 Taylor???s principles of management could be summarized as ???????????????????????????..
a and b above

Q18 A manager will find it difficult to enforce quality or engage in??????????????????????????????. .
overall profit

Q19 A ?????????????????????.. is the selection of alternative course of action fromavailable alternatives in order to achieve a given objective.
decision

Q20 A ???????????????????????????. could be seen as a group of people assembled together to take action on an administrative task.

committee
Q21 What determines whether a decision is to be made by an individual or group is the type of decision to be made, and the importance of the decision to the immediate attainment of ?????????????????????????????? .
organisational objectives

Q22 A decision process is not completed until it is ???????????????????????????????????? .
implemented

Q23 An entrepreneur may decide in the circumstance to select the alternative that ???minimises his risk or involves ???minimum regret??? or gives himoptimum result in the ???????????????????????????????????????. .
short-run

Q24 Stages in Decision Making includes ?????????????????????????????????????????????
all of the above

Q25 A decision made with full knowledge of the occurrence of an event is said to be decision
??????????????????????????????.  .
under certainty

Q26 The course of action that maximises the final desirability is the???????????????????????????????????????.. .
rational decision

Q27 If a quantitative method is used, the value of each alternative is?????????????????????????????????.. .
computed

Q28 In business, there are absolutely no right or wrong decisions but
????????????????????????????????????..   .
intelligent choices

Q29 Factors Determining Unethical Decisions????????????????????????..
Formal company policy

Q30 The King???s affairs were so well organised and so efficiently and effectively run that it was devoid of
?????????????????????????????????????????????   .
bureaucracy


FBQ1: _____ used a mathematical equation to
arrive at the conclusion that only a narrow span of management would make for efficient management.
Answer: Graicunas

FBQ2: ________deals with the number of
subordinates that an executive can manage effectively.
Answer: Span of control

FBQ3: ________promotes delegation and
supervision with predictable results. Answer: Specialization

FBQ4: One of the major factors that promote

decentralization is task Answer: specialization

________


FBQ5: Effective _________helps managers to
spend less time on specific technical activities Answer: delegation

FBQ6: The principle of _________is sometimes
violated where functional authority exists. Answer: unity of command

FBQ7: _______means answering for the use of
your formal authority by someone else. Answer: Accountability

FBQ8: Duncan ____has indicated that
econometric models are used in predicting the

student enrolment at universities. Answer: 1975

FBQ9: _______models are more complex in nature
and involve interrelationships of many variables tied together in a quantitative model.
Answer: Causal

FBQ10: ________are the changes that have taken
place as a result of economic booms or depressions.
Answer: Cyclical variations

FBQ11: _____is based on the assumption that
past activities are good indication of future activities.
Answer: Time series analysis

FBQ12: ______converts company objectives into
individual goals and as a result, it contributes to higher levels of job satisfaction.
Answer: MBO

FBQ13: _________is the last in Maslow’s
hierarchy of needs.
Answer: Self-actualisation Need

FBQ14: ________ is that energizing force that
induces or compels and maintains behaviour. Answer: Motivation

FBQ15: ______method is ideal for both employee
training and management development.

Answer: Coaching

FBQ16: _______ is the determination of the job to
which an accepted candidate is to be assigned and his assignment to that job.
Answer: placement

FBQ17: _______ seek to evaluate the
applicant’s ability to apply knowledge judiciously in solving a problem.
Answer: Judgement test

FBQ18: _______ is to solicit necessary information
from the prospective applicants to assess the applicant’s suitability to the job.
Answer: Preliminary interview

FBQ19: _________ techniques are the means or
media by which management contacts prospective employees or provides necessary information.
Answer: Recruitment

FBQ20: _______ is a process of choosing the right
candidate from a pool of applicants. Answer: Selection

FBQ21: ________include mental dexterity,
analytical ability, intuitive judgement, alertness and ability to concentrate.
Answer: Psychological characteristics

FBQ22: ______ is a personal power acquired by

expertise in a field or area. Answer: Expert Power

FBQ23: _________ conducted extensive studies in
this area and developed a scale to identify different types of leaders.
Answer: Fiedler’s contingency theory

FBQ24: The __________of leadership has suffered
from lack of conclusiveness and over-simplifications.
Answer: trait theory

FBQ25: ________ leadership occurs when a
person is appointed or elected as an authority figure.
Answer: formal

FBQ26: Leadership is an integral part of management and plays a vital role in
_______operations. Answer: managerial

FBQ27: ________ is often referred to as the father
of Scientific Management. Answer: Abraham Maslow

FBQ28: The Management Theory Jungle has classified the major schools of management into
_________ broad areas. Answer: six

FBQ29: Goals can be differentiated between

official and	goals.
Answer: Operative

FBQ30: One of the major problems confronting the Nigerian Civil Service is the lack of clear
________.
Answer: objectives

FBQ31: A decision process is not completed until
it is	_.
Answer: implemented

FBQ32: __________ is one of the highly sought
after talents in management. Answer: Creative

FBQ33: ___________theory is often called
waiting-line theory. Answer: Queuing

FBQ34: The best known definition of management

control is given by Anthony in Answer: 1965

_________


FBQ35: Employment opportunity is created by
_____
Answer: Organisations

MCQ1: ________ is as old as human organization.
Answer: Management

MCQ2: The scientific management school placed
special emphasis upon _________

Answer: Production

MCQ3: ________ is often referred to as the father
of Scientific Management. Answer: Abraham Maslow

MCQ4: Gilbreth is known for his work on time and
_______ studies. Answer: Motion

MCQ5: The first principles of management were

advocated by a French engineer and Answer: Geologist

______


MCQ6: The Management Theory Jungle has classified the major schools of management into
_________ broad areas. Answer: Six

MCQ7: ________ are people who are primarily
responsible for the achievement of organizational goals.
Answer: Managers

MCQ8: _________is defined as getting things
done through others. Answer: Management

MCQ9: Concepts are the corner stone for the development of________ and theory.
Answer: Principles

MCQ10: Goals can be differentiated between

official and	goals.
Answer: Operative

MCQ11: Good organizational goals help in policy
________ and administration. Answer: Formulation

MCQ12: A typical employee goal can be divided
into _____ main groups.
Answer: Two

MCQ13: One of the major problems confronting the Nigerian Civil Service is the lack of clear
________.
Answer: Objectives

MCQ14: _______ of interest arises when an
executive deals with a company in which it has vested interest.
Answer: Conflict

MCQ15: _______ making is one of the most
crucial activities of management. Answer: Decision

MCQ16: A decision process is not completed until
it is	_.
Answer: Implemented

MCQ17: __________ is one of the highly sought
after talents in management. Answer: Creative

MCQ18: ________ is concerned with directing the
human efforts towards organisational goal achievement.
Answer: Direction

MCQ19: Directing and ________comprise the
managerial function of guiding, overseeing and leading people.
Answer: Leading

MCQ20: Schneider ________ refers to
organisational climate as the entire internal environment of the organisation.
Answer: 1975

MCQ21: The mathematical techniques used as

aid to decision making are often called Answer: Operations Research

______


MCQ22: ___________theory is often called
waiting-line theory. Answer: Queuing

MCQ23: Planning has been defined previously as one of the -------- major functions of management. Answer: Five

MCQ24: The most comprehensive definition of
planning is given by _________
Answer: Cyril L. Hudson

MCQ25: The best known definition of management control is given by Anthony in

_________ Answer: 1965

MCQ26: __________indicate the financial
expenditures involved per unit of activity. Answer: Cost standards

MCQ27: ______ can be expressed as a ratio of
net profits to sales. Answer: Profitability

MCQ28: Formal organisation can be seen as a

direct opposite of Answer: Informal

________ organisation.


MCQ29: _________the process of passing
information and understanding from one person to another.
Answer: Communication

MCQ30: Communication may be divided into two
namely _____ and written.
Answer: Oral

MCQ31: Employment opportunity is created by
_____
Answer: Organisations

MCQ32: ______ should help in formulating and
articulating ethical norms as part of their social responsibility.
Answer: Nigeria

MCQ33: The areas in which business

organisations should play a Nigeria are limitless.
Answer: Prominent

________ role in


MCQ34: _______ tend to increase with increasing
task certainty. Answer: Spans

MCQ35: Mass-production companies have a

higher span of management than Answer: Process

________firms.


FBQ1:Inbusinessthereareabsolutelynorightorwrong decisions but 	choices
Answer:*Intelligent*

FBQ2: 	organizationisasoldas management
Answer:*Human*

FBQ3: 	alsopracticedmanagementinthepre – industrial period
Answer:*Africa*

FBQ4: In order to increase employee productivity	waswhattodo Answer: *Preoccupation*

FBQ5:Thefatherof scientific management is Fredrick
W. 	--
Answer:*Taylor*

FBQ6:Thefirstprincipleofmanagementasadvocated by 	
Answer:*HenriFayol*

FBQ7: 	basicelementswasidentifiedby frank in on – the – job motions
Answer:*17*

FBQ8:ThearticleofHaroldKoontzisthemanagement theory of 	
Answer:*Jungle*

FBQ9:Anorderlystudyofjobrequirementis Answer: *Job analysis*
FBQ10: 	isanothernameforfree–reign leadership
Answer:*Laissez–faire*

FBQ11:Whichleadershipoccurswhenapersonis appointed as an authority figure
Answer:*Formal*

FBQ12: The process of passing information and understandingfromonepersontoanotherisknownas

Answer:*Communication*

FBQ13: The physical from of though which can be experienced and understood by senses is 	Answer: *Message*

FBQ14: 	suggested that people’s interpretationsofcommunicationscoincideswiththe

alreadyheldbenefitsandattitude Answer: Donald Robert

FBQ15: Theonlywaytoascertainastohowthe message was interpreted is	
Answer:*Feedback*

FBQ16: The other half of taking is 	
Answer:*Listening*

FBQ17:Inthehierarchyoffunctionsexercisedby management organization is 	
Answer:*Second*

FBQ18:Gettingthingsdonethroughothersisknownis Answer: *Management*
FBQ19: 	isseenas agroupof peopleby other
Answer:*Management*

FBQ20: 	overseethefunctionofotherpeoplewho must work in subordinate position
Answer:*Managers*

FBQ21: The 	schoolandthedecisiontheory school has a class relationship

Answer:*Management*

FBQ22: Whenthedemandsofataskonhandare ambiguous 	is needed
Answer:*Directive*

FBQ23: 	isoneof thefore– runnersof Taylor
Answer:*Babbage*

FBQ24:Anexcellentsourceforhighlydisciplined veterans is 	
Answer:*Militarycentres*

FBQ25: 	isreferredtoastechnicaland mechanical skills
Answer:*Training*

FBQ26:Theprocessofchoosingtherightcandidate from a pool of applicant is termed 	
Answer:*Selection*

FBQ27:Themostobvioussourceswhichareprimarily within the organisation itself is 	
Answer:*Internalsources*

FBQ28: 	was intended to bring about a completementalrevolutionwhichmustoccurinthe

mindsoftheworkmenandmanagement Answer: *Scientific management*

FBQ29: 	isinfluencedbyfinalselection Answer: *Past experience*

FBQ30: 	isblamedwhenitsorganization fails
Answer:*Management*

FBQ31:Oneofthemostimportanthumanactivitiesthat permeate all organisation is 	
Answer:*Managing*

FBQ32: 	ensuresthat everymemberofthe group contributes his best
Answer:*Managing*

FBQ33: People who are primarily responsible for the achievement of organizational goals are 	Answer: *Managers*

FBQ34: In making decisions and evaluating its consequences scientific management uses 	method
Answer:*Science*

FBQ35:Thecontent usedinbusinesstohighlightthe

inter–relationshipbetweenthefunctionalareaof management is 	
Answer:The*systems*

FBQ36:Humanrelationsschoolplacesemphasisonthe understanding of employees by 	
Answer:*Management*

FBQ37: 	theoryschoolbelievesinrational decision making
Answer:*Decision*

FBQ38:Asuccessfulmanagerblendsexperience with
	inordertoachieveadesiredresult Answer: *Science*

FBQ39:Mostresearchesinmanagementdealswith
	toestablishvalidityandreliability Answer: *Facts*

FBQ40: A scholarly grouping of concepts and 	
creates a theory Answer:*Principles*

FBQ41:Managementtheoryattempttopresentina concerted manner loose facts about 	behaviour in organization
Answer:*Human*

FBQ42:Manager’sfunctionsaremanagerial,not


Answer:*Technical*

FBQ43: 	controlorganizationactivities Answer: *Managers*

FBQ44:Whenthegoalsoftheindividualandthegoals of the organisations are the same, we have goal

Answer:*Congruency*

FBQ45:Advertisingwillstressqualityandserviceand not 	
Answer:*Price*

FBQ46:Therewasatimeeconomistsbelievedthatthe sole purpose of any business was to maximize 	Answer: *Profit*

FBQ47: Organizations and 	functionbetter when there is goal cogency
Answer:*Individual*

FBQ48: The aim of the civil service is to 	
Answer: *Serve the people*

FBQ49:ThepunishmentfortheviolationofNilesinan organisation is 	
Answer:*Immediatedismissal*

FBQ50: The ethical standards of a company are determined by the ethical standards of the 	Answer: *Executive*

MultipleChoiceQuestions(MCQs):
MCQ1: 	managementschoolplacedspecial emphasis upon production
Answer:Scientific

MCQ2: 	advocatedplacingworkersona piece of work in order to encourage them to earn more Answer: Fedrick

MCQ3:Thegatheringanalysisandcodificationofallrule of thumb and data existing in business is one of 	principles of management
Answer:Taylor

MCQ4: Taylor was 	forhislackof humanitarian concept
Answer:applauded

MCQ5: 	spenthislifeworkingonthe difference engine

Answer:Charles

MCQ6:Divisionoflabourandspecializationisoneof contributions to the field of management
Answer:Frank

MCQ7:	was production was used to illustratethebenefitsofdivisionoflabourpointingout the savings in time
Answer:Needle

MCQ8: 	stressedtheneedforreplacingmanual operations by automatic machinery
Answer:Taylor

MCQ9: 	is knownfor his workontimeand motion studies
Answer:Taylor

MCQ10:WhosebookischeaperbytheDozen Answer: Taylor

MCQ11:Thefollowingarepartofthebasicelementsin on the job motions except
Answer:Sea

MCQ12: 	developed a flow chart which highlightedtheneedforbreakinganoperationintounit

and steps Answer:Frank

MCQ13:Thefirstprinciplesofmanagementwere advocated by 	
Answer:Frank

MCQ14: 	isolatedasetofprinciplesthat have been thought to managers and students of management
Answer:Fayol

MCQ15: Human relations was advocated by 	
Answer:Babbage

MCQ16: Unity of command is one of 	
principleofmanagement Answer: Fayol

MCQ17: Themanagement theoryjungleisthearticleof


Answer:Harold

MCQ18: 	groupedHenriandTaylortothe same school
Answer:Mayo

MCQ19: 	schoolconcentratesonthe

interpersonalrelationshipbetweenmanagersand workers
Answer:Decisiontheory

MCQ20: 	schoolclassifythemselvesas management scientist
Answer:Mathematical

MCQ21: 	isoneofthemostimportant human activities that permeate all organization Answer: Managing

MCQ22: It is the 	responsibilitytoensurethat every member of the group contributes his best Answer: C.EO

MCQ23: 	are people who are primarily responsiblefortheachievementoforganizationalgoals Answer: Employees

MCQ24:Anyorganizationthatfailstorealizeits objective often blames it on 	
Answer:employees

MCQ25: 	istheindividualtoprovidethedynamic force or direction
Answer:Manager

MCQ26: 	isdefinedastheco-ordinatorofall the resources of an organization through the process of planning, organizing, directing and controlling in order to attain organizational objectives
Answer:Manage

MCQ27: 	requiretechnicalskilland conceptual ability
Answer:Art

MCQ28: 	must possestheknow–how in order to create a desired object
Answer:Scientist

MCQ29:Scientificmanagementusesthemethodsof
	inmakingdecisionsandevaluatingits consequences
Answer:hypothesis

MCQ30: 	concept is often used in businesstohighlighttheinterrelationshipbetweenthe functional areas of management.
Answer:Thesystem

MCQ31:Oneofthefollowingisanexampleofasystem Answer: Motor car

MCQ32:Forthe salesdepartmentto meetdelivery

datespromisedtocustomers.Ithastorelyonthe
	target Answer:Maintaining

MCQ33:Thesuccessofanysystemdependsonthe relationship between the system and its	Answer: Production

MCQ34:Themajororganizationalgoalsincludethe following except 	
Answer:Survival

MCQ35: 	is the selection of alternative courseofactionfromavailablealternativesinorderto achieve a given objective
Answer:Selecting

MCQ36:Decisionmakingcanbeclassifiedintothe following except	
Answer:Decisionmakingundercertainty

MCQ37: 	decisionrequiresthedecision maker to acquire a thorough understanding of the problem in order to make an intelligent choice
Answer:Rational

MCQ38:Thefinalselectionisinfluencedbythedecision maker’s	

Answer: Further experience

MCQ39:Factorsinvolvedinsecuringacceptance include the following except	
Answer:Effectivecommunication

MCQ40: 	couldbeseenasagroupofpeople assembled together to take action on an administrative task
Answer:Management

MCQ41:Thesuccessorfailureofacommitteeinmost instanc3s depends on the 	
Answer:Manager

MCQ42:Thesuccessorfailureofacommitteeinmost instanc3s depends on the 	
Answer:Manager

MCQ43: All organizations with more than 	empkoyeeshaveoneformofcommitteeortheother Answer: 30

MCQ44: A 	committeeisonethatcomes up with new ideas, new approaches and new ways of doing thing
Answer:Creative

MCQ45: 	systemisusedindetermining the optimal utilisation of a facility in an intermittent service
Answer:Queeningtheory

MCQ46: 	isameansof ensuringthat the important organizational objctives are accomplished as an when desired
Answer:Selecting

MCQ47: Long range plans are more risk due to 	
environment Answer:Social

MCQ48:Intermediateplanningcoversatimeframeof about 	
Answer:2monthsto6years

MCQ49: 	isanactionplanwhichsetsthe direction that a company will be taking
Answer:Decision

MCQ50:Thefollowingarethetypesofstrategiesexcept Answer: Stability


Bfn209
Balance sheet shows the present _______ of a business. (Statement)
Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)
BUS205
___________ is a means by which power is acquired, exercised and sustained. (Communication)
Non __________ income is used to buy items to meet basic needs. (Discretionary)
_________motivation also causes you to be loyal to certain shops and companies. (Patronage)
__________ is a book in which particulars of all monies received or paid are recorded. (Cash Account)
___________ is the value that products and sellers place on goods or services. (Price)
Social __________ is owed by individuals and not by organizations. (Obligation)
_______ researchers also gather information from a wider group of people. (Market)
The _______ is the total amount supplied by owner of the business or owners equity or net worth. (Capital)
__________ must be attractive. (Packaging)
________include the resources possessed by the firm. (Assets)
BUS207
Verbal communication is one way for people to communicate ______________. (Face to face)

The actual origin of ___________ is subject to considerable speculation(Language)
If a language is about communicating with signals, voice, sounds, gestures, or written symbols, can animal communications be considered as a ___________? (Language)
The basis of _________________ is the interaction between people. (Communication)
Animals do not have a __________ form of a language, but use a language to communicate with each another. (Written)
Some words may be imitative of natural __________, but others may come from expressions of emotion, such as laughter or crying. (Sounds)
Some of the key components of verbal communication are sound, writing, speaking, and ______________. (Language)
A dialogue is a reciprocal conversation between _______ or more entities, (TWO)
As meaning is assigned to words, language develops, which leads to the ___________ of speaking. (Development)
At birth, most people have vocal cords, which produce __________. (Sounds)
BUS106
It could be argued that the _______ school is identical to the management process school. (Empirical)
Art is the imposition of __________. (Pattern)
___________ are best seen as fundamental or general truth on which other truths depend.(Pinciple)
Gilbreth is known for his work on time and _________studies. (Motion)
Decision theory schools believe in _________decision making. (Rational)
The first principles of management were advocated. (Henry fayol)
There are special areas of management that are not subjected to rigous of(Science)

spend his life working on the difference engine (Babbage)

Management can be define as getting thing done through (Organising)

Management can be define as a team or group of individuals in _________(Organisation)

ECO122

Exports are determined by factors outside the control of the ___ economy (Home)

The two components of import demand is fixed, and at the same time it varies with (Income)

The ____ are guided by the level of income, price level, taste and fashion of the foreign consumers (Spending Decision)

In technical terms, _____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade (Gain from trade)

Gains from trade are the net benefits to agents from allowing an increase in voluntary ______ with each other (Trading)
Import demand changes as______ changes (Income)
Because export is exogenous while a part of import is an increasing function of income, net exports are_____ related to national income/national output (Negatively)
_____ depend on the spending decisions of domestic consumers (Import)
When income rises, the aspect of _____ rises as well and when income falls, it falls (Import demand)
Exports depend on spending decisions made by foreign ____ or overseas firms that purchase domestic goods and services (Consumer)

ECO231

The demand for goods and services is __ (Direct Demand)

The prices paid to the factors of production are called (All of the above)

Reason for the study of factor pricing are (All of the above)

The demand of factor of product can also be Joint Demand because for producer to produce orange he/she has to demand for all the _(factors of production)

The factors needed in the production process are also known as (Production Service)

The factor pricing is concerned with the determination of prices of services of factors of ______ (Production)

To produce goods and services, ____ need the services of factors of production, like land, labour, capital, and entrepreneur (FIRMs)

The theory of distribution is an attempt to explain how income is distributed among the factors of __ (Production)

The employer of factors of production only uses the factors in the production of goods and services to be finally sold in the ____(Product Market)

When workers are engaged or capital are borrowed, it does not offer any direct satisfaction to the ____ (Producer)

The production concept holds that consumers will value products that are highly (Affordable)

Another important role is the discovery of entrepreneurial talent (Agree)

Marketing's first role is to (Stimulate Aggregate potential demand)

Consumerism is an organized movement of citizens and government to fight wars on poor products(Disagree)

Commodity approach in marketing focuses on (Classes of products)

The major goal of an organization to an extent is (Profit)

The product concept holds that consumers value products that offer (High Quality)

Marketing concept holds that organization must first create to satisfy (Needs and want)
One of the significance of marketing is to provide (impulse purchase)

The purpose of marketing concept is to help organizations (Achieve its goal

BFN203

According Gardon (2014), there is a remarked difference between capital gains investing and the game of speculation

The_________ is a document which sets broad parameters for taxation and ancillary matters connected with taxation (National tax Policy

investing is the art of buying and selling an asset for a profit (Capital Gain Investing)

__ is a technique that reduces risk by allocating investments among various financial instruments, industries and other categories (Diversification)

some or all of a loan when the borrower is ins (Credit Insurance)

The steps involved in personal financial planning process Include all of the following except________ (Goal Division)

are options to purchase common stock at a specified price up to a specified date (Warrants)

Is a type of tax (PAYE)

Owning a current and savings account have the same requirements (False)

Ent203

The achievement needs theory was developed by (McCelland)

Which of the following emphasized the risk aspect of entrepreneurship (Cantillon)

Which of the following a pattern of venture capital development (Mid Stage)

Entrepreneurial process include the following stages except? (Profit Planning)

(New Monnies)

VC stands for (Venture Capital)

Which of the following will not support in-house entrepreneurial development in organizations (Bickering)

CIT201
The software that uses the power and speed of a computer machine to perform some mathematical calculations or simulate some real life situations is called a ___ software. (Modeling)

________________________________________

________________________________________

________________________________________

________________________________________

________________________________________
________________________________________

________________________________________

________________________________________






TMA3                  7/10

91. The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

92. The income approach to the calculation of GDP measures GDP in terms of who receives

None of the Option

93. Merchant banks are set up primarily to cater for the needs of _______

,,,,,,,,,,,,corporate and institutional debtors

94. Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year

final goods and services

95. Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____

Export minus Government import

96. Consumption, Savings and Investment is the theory of ___

National Income accounting

97. ______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms

,,,,,,,,,,,,,,Value added

98. The Central Bank of Nigeria, which was statutorily independent of the federal government in _____

1968

99. The following except one is the formular of Per Capita Income

,,,,,,,,,,,National Income/Total Population

100. Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.

individual private businesses and public sector



























Eco122 tma1 10/10 done

1, was only used as a methodological approach to economic problems

Ans Macro

2, The following person was well known in economics with the general theory of income, output and employment in the wake of the Great Depression of 1929.

ans John Maynard Keynes

The Physiocrats adopted __ in the 18th century, in their table Economique to show the circulation of wealth

Ans macro

4, __ was first used in economics by Ragner Frisch in scientific approach

Ans macro

5, __ can be define as the behavior of the whole (aggregate) economy or economic systems rather than individual economic markets.

ans Macroeconomics

6, The most vital differences between micro and macroeconomics is rather than focusing on individual households and firms, it examines conditions within the __ as a whole

ans economy

7, Another name for __ is the net product

ans circulation of wealth

8, __ was originated with the mercantilists in the __ and 17th centuries

Ans: Macro, 16th

9, The following except one is not the goal of macroeconomics

Ans Price Control

10, ___ means is a situation in which everyone that want to work gets work

Ans Full employment
Question:  is an institution which accepts deposits makes business loans and offers related

Answer:Commercial bank



Question: At the end of  the banking system consisted of the Central Bank of Nigeria forty two commercial banks and twenty four merchant banks

Answer:1988



Question: In  several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

Answer:1952



Question: British colonial officials established the West African Currency Board in 1912 to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to

Answer:British pounds sterling



Question: No banking legislation existed  until 1952

Answer:Nigeria



Question: In 1892 Nigerias first bank the  was established

Answer:African Banking Corporation



Question: A financial institution is a financial intermediary that accepts deposits and channels those deposits into lending activities either directly by loaning or indirectly through

Answer:capital markets



Question: Transactionary motive is the motive of holding

Answer:money



Question: The following are not functions of money except

Answer:store of value



Question: The following are the characteristics of money except

Answer:Specding ability



Question: Increase in  results in increase in economic welfare

Answer:per capita income



Question: The economic welfare cannot be said to have increased if the increase in national income is due to exploitation of

Answer:labour



Question: If the change in were due to change in prices it would be difficult to measure the real change in economic welfare

Answer: national income



Question: According to AC Pigou an economist assert that there is a close relationship between economic  and national income because both of them are measured in terms of money

Answer:welfare



Question:  attaches great importance to economic welfare because welfare is a very wide term

Answer:AC Pigou



Question: The average propensity to save is an economic term that refers to the proportion of income that is saved rather than  on goods and services

Answer:spent



Question: The income not spent on goods and services for current  is called savings

Answer:consumption



Question:  is defined as the ratio of the change in consumption to the change in income that necessitated it

Answer:Marginal propensity to consume



Question: In a geometric function the  is actually the slope of the consumption function

Answer:MPC



Question:  consumption represents consumption when income is zero

Answer:Autonomous



Question: Per capita income is defined as the ratio of a countrys income to its population while  is defined as the ratio of a countrys GDP to the population of the country

Answer:GDP per capita



Question:  income does not include the income earned abroad

Answer:Domestic



Question: The income of citizens of a country living abroad is termed factor  from the rest of the world

Answer:income



Question: Mr Tunde Bakare a shoe marker charges N200000 for each shoes that he makes He pays his shop apprentice N20000 per shoe made in return for sweeping the floor and other chores For each shoe made what is the total contribution of Mr Tunde bakares and her apprentice to GDP

Answer:N2000



Question: National income accounting is a term used in economics to refer to the  system that a national government uses to measure the level of the countrys economic activity in a given time period

Answer:book keeping



Question: In an open economy which imports raw materials and other intermediate products at high prices the cost of production of  will always rise

Answer:domestic goods



Question: Rising and falling prices are both bad because they bring unnecessary  to some and undue advantage to others

Answer: loss



Question: One of the goals of  policy is to stabilize the price level

Answer:macroeconomics



Question: In the  the physiocrats adopted it in their table Economique to show the circulation of wealth

Answer:18th century



Question: Macroeconomics studies the behavior of the whole  or economic systems rather than individual economic markets which is the domain of Microeconomics

Answer:aggregate economy



Question:  is the motive of holding money

Answer:Transactionary motive



Question: Commercial bank is an institution which accepts  makes business loans and offers related

Answer:deposits



Question: British colonial officials established the West African Currency Board in  to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to British pounds sterling

Answer:1912



Question: At the end of 1988 the banking system consisted of the  forty two commercial banks and twenty four merchant banks

Answer:Central Bank of Nigeria



Question: A  is a financial intermediary that accepts deposits and channels those deposits into lending activities either directly by loaning or indirectly through capital markets

Answer:financial institution



Question: No banking legislation existed Nigeria until

Answer:1952



Question: In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a  to facilitate economic development

Answer:central bank



Question: In  Nigerias first bank the African Banking Corporation  was established

Answer:D: 1892



Question: Import demand changes as changes

Answer:income



Question:  depend on the spending decisions of domestic consumers

Answer:Imports



Question: The  are guided by the level of income price level taste and fashion of the foreign consumers

Answer:spending decisions



Question: In technical terms  is the increase of consumer surplus  plus producer surplus  from lower tariffs  or otherwise liberalizing trade

Answer:Gain from trade



Question: The two components of import demand is fixed and at the same time it varies with

Answer:income



Question: When income rises the aspect of  rises as well and when income falls it falls

Answer:import demand



Question: Because export is exogenous while a part of import is an increasing function of income net exports are related to national incomenational output

Answer:negatively



Question: Exports depend on spending decisions made by foreign  or overseas firms that purchase domestic goods and services

Answer:consumers



Question: Gains from trade are the net benefits to agents from allowing an increase in voluntary  with each other

Answer:trading



Question: Exports are determined by factors outside the control of the  economy

Answer:home
Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading

Macroeconomics studies the behavior of the individual economic market. True or False? ___________

101. False*
________ was the economist who developed a general theory of income, output and employment.

102. Keynes*
The term “macro” was first used in economics by Ragner Frisch in the year ___________

103. 1933*
Full employment means the absence of __________ unemployment.

104. Involuntary*
One of the goals of macroeconomics policy is to stabilize the price level. True or False? ___________

105. True*
Macroeconomics is the study of ___________ of an economy as a whole

106. Aggregates*
___________ is the summation of all the values of goods and services produced in a country by the nationals and non-nationals.

107. GDP*
Goods and services produced in the previous years are included in the GDP calculation. True or False? _______________

108. False*
Final good or service is the end product of the ___________ process.

109. Production*
A special type of good that is difficult to class as intermediate or final is a ___________ good

110. Capital*
Social security such as unemployment insurance, scholarships are called ___________ payment

111. Transferred*
Problem of ___________ counting is one of the problems of computation of GDP

112. Double*
The income of citizens of a country living abroad is termed ___________ income from the rest of the world

113. Factor*
Net National Product is Gross National Product minus ___________

114. Depreciation*
Domestic income is ___________ income minus net income earned from abroad

115. National*
__________ income is personal income minus direct taxes.

116. Disposable*
Real gross domestic product is nominal gross domestic product that has been adjusted for _____________

117. Inflation*
________ GDP is the GDP measured in the current market prices of the goods and services.

118. Nominal*
Real GDP is called GDP at ___________ prices

119. Constant*
A particular year when prices are normal or stable is called the _______________ year

120. Base*
National income account provides a basis for national economic policies. True or False ___________________

121. True*
National income is GDP less net factor income from ___________

122. Abroad*
When import is subtracted from export, we have ___________ exports

123. Net*
When consumer expenditure is subtracted from the amount of disposable income, it is referred to as ___________

124. Savings*
The current governor of Central Bank of Nigeria is ___________

125. Godwin Emefiele*
___________ is the use of goods and services by households

126. Consumption*
The lender of last resort and financial adviser to the government is ___________ bank

127. Central*
In the consumption function, C = b0 + b1Y ; b0 is referred to as ___________ consumption

128. Autonomous*
b1 in the consumption function is known as ___________ propensity to consume

129. Marginal*
Autonomous consumption represents consumption when income is ___________

130. Zero*
___________ propensity to consume refers to the percentage of income that is spent on goods and services rather than on savings

131. Average*
Government policy is not a determinant of savings. True or False ___________

132. False*
Level of national income is a determinant of investment. True or False ______________

133. True*
___________ coincidence of want is a problem associated with trade by barter

134. Double*
The ease with which money can be carried is referred to as ___________

135. Portability*
Money as a ___________ of exchange is the most important function of money

136. Medium*
Money as a unit of ___________ makes it possible to measure the prices of goods and services

137. Account*
The demand for liquidity for day to day transactions is known as ___________ motive for liquidity.

138. Transactionary*
___________ motive is the demand for liquidity for unforeseen circumstances

139. Precautionary*
A financial institution which accepts deposits, makes business loans, and offers related services is a ___________ bank

140. Commercial*
Non-residential investment is not part of gross private domestic investment. Agree or Disagree ___________________

141. Disagree*
___________ investment is the value of investment in buildings, machinery, before taking away depreciation

142. Gross*
National defence, provision of social amenities , policing, internal and external securities are all part of ___________ spending

143. Government*
Value added tax is an example of ___________ tax

144. Indirect*
Personal income tax, capital gains tax are examples of ___________ tax

145. Direct*
Government consumption and investment are part of government spending but excludes ___________ payments.

146. Transfer*
Government ___________ is money received by a government

147. Revenue*
___________ is a compulsory levy imposed by the government on individuals and business firms

148. Tax*
A situation where tax rate reduces as the size of income increases is ___________ tax

149. Regressive*
Budget ___________ is a status of financial health in which expenditures exceed revenue

150. Deficit*
Macroeconomics studies the behavior of which economic systems

whole (aggregate)

Macroeconomics examines

All of the options

Objectives of macroeconomics does not include

Individual economic market

When the real per capita income of a country increases over a long period of time is known as

economic growth

One of the Keynesian concept of full employment involves

Reduction in the real wage rate

___ is the study of individual economic units of an economy

Microeconomics

The major determinant of macroeconomic problems is

Income

Who developed macroeconomics as a distinct method in economic theory?

John Keynes

The summation of all the values of goods and services produced in a country by the nationals and non-nationals is

Gross domestic product (GDP)

Which of the following is not a problem of national income determination?

None of the options

The followings is not included in the calculation of GDP except

current year production

Domestic income does not include:

Income earned abroad

The ratio of a country’s income to its population is known as ___

Per capita income

Personal income minus direct tax is known as

Disposable income

The importance of national income accounting does not include

For poverty alleviation

There are ___ basic approaches to the measurement of GDP

Three (3)

After subtracting depreciation from GNP, what we get is called

Net national product (NNP).

Aggregate consumption in any economy depends on a number of factors except

Capital accumulation

The determinants of savings does not include

Social cost

Saving is income

Not spent

With disposable income of N20,000 and spending of N8,000. What is APC?

0.4

Components of investment includes

All of the options

Which of the following is not a determinant of investment

None of the options

The exchange of good for goods and services for services is called

Barter system

One of these is not a stage in the evolution of money

Standard money

Who formulated the equation of exchange?

Irvin Fisher

The following are functions of money except

Unit of Measurement

The first money deposit bank in Nigeria was established in the year

1891

One of these is not a function of the central bank

Acceptance of deposits

Precautionary demand for money will be directly influenced by

A person’s level of income

One of the following is not a problem associated with the barter system

None of the options

Holding cash for the purchase of bond and securities is referred to as

Speculative demand for money

The first bank in Nigeria was known as

African Banking Corporation

The primary function of commercial bank is to

Accept deposits from every class

Banks that were licensed before Nigeria’s independence in 1960

First generation banks

The expenditure of households on goods and services is referred to as

Personal consumption expenditure

Gross private domestic investment includes

All of the options

Reasons for the downward sloping of the Aggregate Demand Curve

All of the options

The components of aggregate expenditure does not include

Capital accumulation

Factors that lead to increase in government spending excludes.

Political stability

Reasons why government levy taxes exclude

To punish the citizens

One of these is not a disadvantage of international trade

Technical knowledge

Trade between two countries is known as

Bilateral trade

Three approaches of measuring national income account are

Income, output, expenditure

Reasons for increased government expenditure in Nigeria does not include

Good governance

Compulsory levy by government to the citizens is known as

Taxation

The proponent of the theory of Comparative Cost Advantage

David Ricardo

Comparative advantage doctrine is based on the assumptions except

Unequal cost of production

Which arm of the government implements the budget

The Executive

Roles of government budgets exclude

Advisory
Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading
Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.

exogenous; negatively



The problem of ________ arises when applying the Output expenditure

double counting


The following except one is the formular of Per Capita Income

National Income/ Total Goods and services

...........National Income/Total Population


Merchant banks are set up primarily to cater for the needs of ___

corporate organization

Consumption, Savings and Investment is the theory of ___

National Income accounting

A _____ company is one which transacts the business of banking which means the accepting for the purpose of lending all investment of deposits of money from the public

banking


Is not one of the characteristics of budget

Proportionality

Financial institution is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through _____

capital markets




British colonial officials established the West African Currency Board in 1912 to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to ____

British pounds sterling





______ gave an alternative definition of full employment at another place in his general theory publication

Piguo

An aggregation of an individual\'s income with disregard of direct taxes is referred to as _____

Aggregate income

A summation of all the values of goods and services produced in a country by the nationals and non-nationals of that country is referred to as ____

GDP

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by

Depreciation


The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product

non-nationals

Which of the following is not a problem of national income determination?

Problem of paid services

Approaches to measuring GDP are ___ in number

3

The following are components of investment except ____

Marginal investment

An example of fiat money is

Paper naira

Money and wealth are the same thing

TRUE




























































If the level of income is 2000, planned export demand equal marginal propensity to import is 0.4 and exogenous import is 340. Calculate the net export.
None of Options??

A public good is associated with ______
Economy of scale??



Mathematically, MPC + MPS = ____
1

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

The meaning of _____ in macroeconomics is disposable income
None of Options

The following except one is the formular of Per Capita Income
National Income/Total Population

Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year
final goods and services

Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____
import expenditure minus net exports

The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

Consumption, Savings and Investment is the theory of ___
National Income accounting

The Central Bank of Nigeria, which was statutorily independent of the federal government in _____
1968

______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms
Value added

Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.
individual private businesses and public sector

The income approach to the calculation of GDP measures GDP in terms of who receives
None of the Option

Merchant banks are set up primarily to cater for the needs of _______
None of the Option

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others
prices

To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages
effective demand

One of the goals of ______ policy is to stabilize the price level
macroeconomics

______ gave an alternative definition of full employment at another place in his general theory publication
Piguo!

_____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level
Macroeconomics

The term “macro” was first used in economics by _____ in 1933
Ragner Frisch

John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____
1929

Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets
aggregate economy

According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money
income

Piguo attaches great importance to economic _____ because welfare is a very wide term.
welfare



Macroeconomics problems was dealt with vigorously by ______ economists
Sismondi and Marx

Given S = -bo + BY, where -bo in the model means__________
autonomous

An example of closed economy is____________
Y = C + I

In the early 1933, macro was used in economics by _________
Ragner Frisch

The following economists execept one is not part of those that developed the theory of money and general prices ____________
Smith

The meaning of macro means __________
Aggregate Economy

The prolem of double counting or multiple counting arises when applying the ______ method to etimate national income
Output expenditure

In the 18th century the ________ economist makes use of macroeconomics
physiocrat

Consumption is the use of goods and services by __________
household

The following except one is not the goal of macroeconomics ____________
Full Production

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

An increase in price expectations shifts the long-run aggregate supply curve to the ___.
Right

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

According to the wealth effect, aggregate demand slopes downward (negatively) because
lower prices increase the value of money holdings and consumer spending increases.

Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply curve
is vertical because an equal change in all prices and wages leaves output unaffected.

A tax is a ____ levy imposed by the government on individuals and business firms as it relates to the incomes, consumption, and production of goods and services
compulsory

Is not one of the characteristics of budget
Proportionality

Given AD = C + I + G + NX , where C = 520 + 0.6Y; I = 120; and G = 200; NX = 12 and T = 150, what is the equilibrium output?
1800

Economists refer to fluctuations in output as the \
Unpredictable

Stagflation occurs when the economy experiences
rising prices and falling output

Which of the following would not cause a shift in the long-run aggregate supply curve?
An increase in price expectations

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'

Which of the following is not a problem of national income determination?
Problem of paid services

If the banks in an economy operate with a reserve ratio of 20 per cent then the money multiplier is:
5

If Obaka buys a newly built retirement home, this transaction would affect
Investment

The use of goods and services by household is referred to as ____
Consumption

Which of the following is not a function of money?
Hedge against inflation

An example of fiat money is
Paper naira

Reserve requirements that may be imposed on an economy’s banks by its central bank specify that banks’ reserves must be a minimum percentage of their
Deposits

Which of the following policy actions by a central bank is likely to increase the money supply?
Buying government bonds in open market operations

Money and wealth are the same thing
FALSE\'

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by
Depreciation

Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of ___ of an economy as a whole.
aggregates

If a tailor buys cloth for N10,000 and thread for N1,000 and uses them to produce and sell N25,000 worth of dresses to consumers, the contribution to GDP is
N25,000

Gross Domestic Product is the sum of the market value of the
Final goods and services.

Gross Domestic Product can be measured as the sum of
Consumption, investment, government purchases, and net exports

Which of the following can be excluded from Nigeria GDP for 2020? The sale of would be
A home built in 2019 by Brains and Harmers at Lugbe and first sold in 2020.

Real GDP is measured in ________ prices while nominal GDP is measured in ________ prices.
base year; current year

An example of a transfer payment is
Unemployment benefits

Nigeria Gross Domestic Product (in contrast to Gross National Product) measures the production and income of
People and factories located within the borders of the Nigeria.

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'



151. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

152. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

153. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

154. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

155. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

156. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

157. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

158. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

159. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

160. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics



33. The ____ of aggregate demand indicates that a change in taxes will shifts the aggregate demand curve in the direction opposite to that of the change in taxes

	      demand curve

	      supply side

	--->> Keynesian analysis

	      savings curve

34. The problem of ________ arises when applying the Output expenditure

	--->> double counting

	      expenditure

	      National income

	      aggregate supply

35. The _____ are negative when there is decrease in the equilibrium GDP

	      net imports

	--->> net exports

	      investment goods

	      Gross Private Investment

36. Along a given aggregate supply curve an increase in the price level leads to an increase in aggregate output because ______

	      workers work more hours, due to the increase in the real wage

	--->> firms increase production in response to higher profits

	      workers work more hours, due to the decrease in the real wage

	      All of the Options

37. Merchant banks are set up primarily to cater for the needs of ___

	      people

	      Government

	      corporate organization

	--->> None of the Options

38. ______ is defined as the ratio of the change in consumption to the change in income that necessitated it

	      Consumption

	      Savings

	--->> Marginal propensity to consume

	      Investment

39. In a ____ not all basic needs are generally met by the Private sector

	--->> free market economy

	      economy

	      supply sector

	      None of the Options

40. The british colonial officials established the ______ in 1912

	--->> West African Currency Board

	      Nigerian bank

	      monetary authority

	      CBN

41. A sum of N5000.00 is fixed on a shoe, then the fixed tax of N5000.00 is the ________

	      direct tax

	      indirect tax

	--->> Specific tax

	      Advarolem tax

42. In ____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

	      1960

	      1966

	      1955

	--->> 1952



2) Mr Olaoluwa a foreigner buy N800 billion worth of Nigerian exports and Mrs Vivian Odishika a Nigerian buy N700 billion worth of foreign imports in a given year. Therefore, the net exports is_________

	      1Billion

	      22Billion

	      3.2Billion

	--->> None of the Options

3) ______ of import analysis shows that import are purcahses by domestic buyers of goods and services that were produced abroad

	      Investment

	--->> Macroeconomics

	      Microeconomics

	      All of the Options

4) The ______ generation banks are licensed before 1960

	--->> first

	      second

	      third

	      fourth

5) In the ______ consumption expenditure, the component of the consumption is the monthly income reportn

	      Firm's

	--->> personal

	      company's

	      overall

6) _______ is said to be the act of producing capital goods which are not for immediate use

	      Savings

	      Consumption

	--->> Investment

	      Goods and Services

7) Nigeria purchased N11 billion of gasoline fron Mali last year, but it also sold N28 billion of gasoline to Ghana last year, therefore Nigeria's net gasoline export is _________

	      44.2Billion

	      2.3Billion

	      1.5Billion

	--->> None of the Options

8) The Gross Private domestic investment is the total investment in capital by the _____

	      domestic sector

	--->> investors

	      private sector

	      Government sector

9) The motive of holding money for unforseen contingency is ______

	      Transactionary motive

	      Speculative motive

	      Unforseen motive

	--->> precautionary motive

10) In the theory of final consumption expenditure, the expenditure by resident households on the domestic territory and expenditure by resident household abroad are added together but excludes any non-resideent hoseholds' expenditure on the ______

	--->> domestic territory

	      list of consumers

	      overall expenditrure

	      None of the Options

11) The _____ measures the investment used to calculate Gross domestic product in economic measurement of a nation

	      Gross National Product

	      National investment

	      Investment of a nation

	--->> Gross Private domestic investment




1--- banking legislation

2_ banking

3-- British pounds sterling

4__ Yd

5--- 1952

6--- capital markets

7--- none of the options

8___1988

9___ deposits

10___ African Banking corporation


Book keeping system

None of the options

Gross domestice product

Price stability

Production

None of the options

None of the options

Non-nationals

Full employment

National income accounting
======
ECO122
======

71. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

72. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

73. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

74. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

75. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

76. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

77. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

78. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

79. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

80. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

______ gave an alternative definition of full employment at another place in his general theory publication

Piguo

An aggregation of an individual\'s income with disregard of direct taxes is referred to as _____

Aggregate income

A summation of all the values of goods and services produced in a country by the nationals and non-nationals of that country is referred to as ____

GDP

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by

Depreciation


The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product

non-nationals

Which of the following is not a problem of national income determination?

Problem of paid services

Approaches to measuring GDP are ___ in number

3

The following are components of investment except ____

Marginal investment

An example of fiat money is

Paper naira

Money and wealth are the same thing

TRUE
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71. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

72. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

73. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

74. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

75. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

76. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

77. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

78. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

79. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

80. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

======
ECO122
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81. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

82. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

83. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

84. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

85. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

86. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

87. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

88. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

89. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

90. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

======
ECO122
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91. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

92. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

93. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

94. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

95. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

96. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

97. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

98. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

99. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

100. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

======
ECO122
======

101. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

102. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

103. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

104. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

105. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

106. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

107. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

108. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

109. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

110. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

======
ECO122
======

111. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

112. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

113. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

114. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

115. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

116. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

117. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

118. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

119. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

120. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

======
ECO122
======

121. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

122. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

123. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

124. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

125. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

126. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

127. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

128. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

129. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

130. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

======
ECO122
======

131. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

132. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

133. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

134. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

135. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

136. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

137. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

138. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

139. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

140. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

======
ECO122
======

141. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

142. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

143. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

144. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

145. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

146. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

147. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

148. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

149. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

150. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

======
ECO122
======

151. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

152. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

153. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

154. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

155. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

156. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

157. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

158. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

159. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

160. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

======
ECO122
======

161. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

162. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

163. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

164. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

165. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

166. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

167. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

168. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

169. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

170. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

======
ECO122
======

171. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

172. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

173. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

174. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

175. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

176. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

177. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

178. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

179. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

180. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

======
ECO122
======

181. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

182. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

183. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

184. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

185. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

186. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

187. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

188. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

189. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

190. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

======
ECO122
======

191. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

192. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

193. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

194. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

195. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

196. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

197. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

198. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

199. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

200. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

======
ECO122
======

201. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

202. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

203. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

204. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

205. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

206. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

207. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

208. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

209. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

210. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

======
ECO122
======

211. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

212. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

213. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

214. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

215. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

216. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

217. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

218. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

219. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

220. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

======
ECO122
======

221. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

222. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

223. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

224. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

225. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

226. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

227. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

228. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

229. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

230. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

======
ECO122
======

231. Nigeria purchased N11 billion of gasoline fron Mali last year, but it also sold N28 billion of gasoline to Ghana last year, therefore Nigeria's net gasoline export is _________

	      44.2Billion

	      2.3Billion

	      1.5Billion

	--->> None of the Options

232. The _____ measures the investment used to calculate Gross domestic product in economic measurement of a nation

	      Gross National Product

	      National investment

	      Investment of a nation

	--->> Gross Private domestic investment

233. In the ______ consumption expenditure, the component of the consumption is the monthly income reportn

	      Firm's

	--->> personal

	      company's

	      overall

234. Mr Olaoluwa a foreigner buy N800 billion worth of Nigerian exports and Mrs Vivian Odishika a Nigerian buy N700 billion worth of foreign imports in a given year. Therefore, the net exports is_________

	      1Billion

	      22Billion

	      3.2Billion

	--->> None of the Options

235. In the theory of final consumption expenditure, the expenditure by resident households on the domestic territory and expenditure by resident household abroad are added together but excludes any non-resideent hoseholds' expenditure on the ______

	--->> domestic territory

	      list of consumers

	      overall expenditrure

	      None of the Options

236. The ______ generation banks are licensed before 1960

	--->> first

	      second

	      third

	      fourth

237. _______ is said to be the act of producing capital goods which are not for immediate use

	      Savings

	      Consumption

	--->> Investment

	      Goods and Services

238. The motive of holding money for unforseen contingency is ______

	      Transactionary motive

	      Speculative motive

	      Unforseen motive

	--->> precautionary motive

239. The Gross Private domestic investment is the total investment in capital by the _____

	      domestic sector

	--->> investors

	      private sector

	      Government sector

240. ______ of import analysis shows that import are purcahses by domestic buyers of goods and services that were produced abroad

	      Investment

	--->> Macroeconomics

	      Microeconomics

	      All of the Options

======
ECO122
======

241. In a ____ not all basic needs are generally met by the Private sector

	--->> free market economy

	      economy

	      supply sector

	      None of the Options

242. A sum of N5000.00 is fixed on a shoe, then the fixed tax of N5000.00 is the ________

	      direct tax

	      indirect tax

	--->> Specific tax

	      Advarolem tax

243. Merchant banks are set up primarily to cater for the needs of ___

	      people

	      Government

	      corporate organization

	--->> None of the Options

244. The british colonial officials established the ______ in 1912

	--->> West African Currency Board

	      Nigerian bank

	      monetary authority

	      CBN

245. Along a given aggregate supply curve an increase in the price level leads to an increase in aggregate output because ______

	      workers work more hours, due to the increase in the real wage

	--->> firms increase production in response to higher profits

	      workers work more hours, due to the decrease in the real wage

	      All of the Options

246. In ____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

	      1960

	      1966

	      1955

	--->> 1952

247. The ____ of aggregate demand indicates that a change in taxes will shifts the aggregate demand curve in the direction opposite to that of the change in taxes

	      demand curve

	      supply side

	--->> Keynesian analysis

	      savings curve

248. ______ is defined as the ratio of the change in consumption to the change in income that necessitated it

	      Consumption

	      Savings

	--->> Marginal propensity to consume

	      Investment

249. The problem of ________ arises when applying the Output expenditure

	--->> double counting

	      expenditure

	      National income

	      aggregate supply

250. The _____ are negative when there is decrease in the equilibrium GDP

	      net imports

	--->> net exports

	      investment goods

	      Gross Private Investment

The following except one is the formular of Per Capita Income
National Income/Total Population

Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year
final goods and services

Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____
import export minus export

The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

Consumption, Savings and Investment is the theory of ___
National Income accounting

The Central Bank of Nigeria, which was statutorily independent of the federal government in _____
1968

______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms
Value added

Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.
individual private businesses and public sector

The income approach to the calculation of GDP measures GDP in terms of who receives
None of the Option

Merchant banks are set up primarily to cater for the needs of _______
None of the Option








1--- banking legislation

2_ banking

3-- British pounds sterling

4__ Yd

5--- 1952

6--- capital markets

7--- none of the options

8___1988

9___ deposits

10___ African Banking corporation
Economic growth is measured by the increase in the amount of goods and services in each successive period : time


...........is defined as the process whereby the real per capita income of a country increases over a long period of time: Economic growth


Rapid _ leads to urbanization and industrialization with their adverse effects on the pattern of living and environment: growth
In an which imports raw materials and other intermediate products at high prices, the cost of production of domestic goods will always rise: open economy
If the change in were due to change in prices, it would be difficult to measure the real change in economic welfare: national income
_ can be maintained by following acounter-cyclical monetary Policy: Price stability
The economic welfare cannot be said to have increased, if the increase in national income is due to exploitation of : labour
Generally, _ belief in the possibility of continual growth: economists
A country with a _ must be at a Surplus to repay the debt over a reasonably short period of time: net debt





The economic welfare cannot be said to have increased, if the increase in national income is due to exploitation of LABOUR
Generally, belief in the possibility of continual growth ECONOMISTS
If the change in were due to change in prices, it would be difficult to measure the real change in economic welfare NATIONAL INCOME Economic growth is measured by the increase in
the amount of goods and services in each successive period TIME
Rapid leads to urbanization and industrialization with their adverse effects on the pattern of living
and environment GROWTH
is defined as the process whereby the real per capita income of a country increases over a long period of time ECONOMIC GROWTH
In an which imports raw materials and other intermediate products at high prices, the cost of production of domestic goods will always rise OPEN ECONOMY
can be maintained by following acounter-cyclical monetary Policy PRICE STABILITY
A country with a must be at a Surplus to repay the debt over a reasonably short period of time NET DEBT
Increase in results in increase in economic welfare PER CAPITA INCOME


The system the national government uses to measure the level of the country\'s economic activity in a given time period is _______ Bookkeeping system None of the options The goods sold in the black market, are excluded although they are priced (they have market value) and fulfil the needs of the people but from the social point of view, they are not useful, Gross domestic product Policy of _____ is to keeps the value of money stable Price stability The profits earned or losses incurred on account of changes in capital assets as a result of the fluctuations in market prices are included in GDP if and only if they are not responsible for the current year? Production A Shoe maker charges N8000.00 for each pairs of shoe he makes. The Shoe maker pays his shop apprentice N500.00 per cloth made in return for sweeping the floor an None of the options A bag of cassava has a market value of N500, which is the price Olusanya Nigeria Ltd paid for the cassava. If the cassava undergo series of production system, which has a market valu OgoOluwa and sons Ltd is into farming production and he produces N6,000 worth of cattle milk. He sold N1,800 worth of milk to his friends and uses the rest of the milk to feed his livestock, None of the options The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product Non-nationals Keynes alternative definition of ______ is a situation in which aggregate employment is inelastic in response to an increase in the effective demand for its output Full employment Another term used for ______ in economics is book keeping system National income accounting



251. ...... is a document that explicitly described the spending decision of the government Vis-A-Vis the projected revenue and the source
12) Budget
2)..... theory states that a country should specialize in the production of  the commodity or service in which it has lower opportunity cost....
13) comparative advantage
3)........ is the difference btw total government expenditure that is taxes minus government expenditure
14) budget balance
4)...... was the proponent of the theory of comparative advantage
15) David Ricardo
16) ..... is when expenditure is greater than revenue
17) deficit budget
6).... defined as the good and service in which a country is more efficient or can produce the same amount with other country using fewer resources
18) theory of Absolute advantage
7)------is when the rerevenu to be generated is forecasted to be greater than expenditure
T*surplus budget
8)------are known as running cost which the government undertakes in its day-to-day activities
19) Recurrent expenditure
9)-------are receipts of monies from fines taxes fees etc by the government
20) Recurrent revenue
10)-----is needed to perform some allocative function just as the price mechanism performs in the private sector
21) Budget
======
ECO122  NOUN  PQ





252. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

253. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

254. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

255. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

256. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

257. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

258. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

259. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

260. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

261. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics





22) John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

23) Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

24) _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

25) Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

26) To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

27) Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

28) One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

29) The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

30) According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

31) ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading

Question
Government ______ is the income available to fund the activities of a government.

Answer
revenue



Question
_____ is a situation in financial planning or the budgeting process where total revenues are equal to or greater than total expenses

Answer
Banalnce Budget



Question
When spending exceeds income, the result is a _____

Answer
budget deficit



Question
A ____ might be used to pay off debt, save for the future, or to make a desired purchase that has been delayed

Answer
budget surplus



Question
_____ a situation in which income exceeds expenditures

Answer
Budget surplus



Question
The ___ is an important economic document of a country

Answer
budget



Question
____ is the difference between total government expenditure, that is, taxes minus government expenditure

Answer
Budget balance



Question
___ is a document that explicitly describe the spending decision of the government vis-à-vis the projected revenue and the source

Answer
Budget



Question
The consultant who can do everything more efficiently than every other person is synonymous with the country that can produce everything more _____ than any other country in the world

Answer
efficiently



Question
____ theory states that a country should specialize in the production of a commodity or service in which it has a lower opportunity-cost

Answer
Comparative advantage



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
Government ______ is the income available to fund the activities of a government.

Answer
revenue



Question
_____ is a situation in financial planning or the budgeting process where total revenues are equal to or greater than total expenses

Answer
Banalnce Budget



Question
When spending exceeds income, the result is a _____

Answer
budget deficit



Question
A ____ might be used to pay off debt, save for the future, or to make a desired purchase that has been delayed

Answer
budget surplus



Question
_____ a situation in which income exceeds expenditures

Answer
Budget surplus



Question
The ___ is an important economic document of a country

Answer
budget



Question
____ is the difference between total government expenditure, that is, taxes minus government expenditure

Answer
Budget balance



Question
___ is a document that explicitly describe the spending decision of the government vis-à-vis the projected revenue and the source

Answer
Budget



Question
The consultant who can do everything more efficiently than every other person is synonymous with the country that can produce everything more _____ than any other country in the world

Answer
efficiently



Question
____ theory states that a country should specialize in the production of a commodity or service in which it has a lower opportunity-cost

Answer
Comparative advantage



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
Government ______ is the income available to fund the activities of a government.

Answer
revenue



Question
_____ is a situation in financial planning or the budgeting process where total revenues are equal to or greater than total expenses

Answer
Banalnce Budget



Question
When spending exceeds income, the result is a _____

Answer
budget deficit



Question
A ____ might be used to pay off debt, save for the future, or to make a desired purchase that has been delayed

Answer
budget surplus



Question
_____ a situation in which income exceeds expenditures

Answer
Budget surplus



Question
The ___ is an important economic document of a country

Answer
budget



Question
____ is the difference between total government expenditure, that is, taxes minus government expenditure

Answer
Budget balance



Question
___ is a document that explicitly describe the spending decision of the government vis-à-vis the projected revenue and the source

Answer
Budget



Question
The consultant who can do everything more efficiently than every other person is synonymous with the country that can produce everything more _____ than any other country in the world

Answer
efficiently



Question
____ theory states that a country should specialize in the production of a commodity or service in which it has a lower opportunity-cost

Answer
Comparative advantage



Question
____ was the proponent of the theory of Comparative Advantage

Answer
David Ricardo



Question
The law of _____ is defined as the good or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources

Answer
Absolute Advantage



Question
International trade is important as it is a channel of meeting the wants of individuals who are residents in different ___ of the world

Answer
countries



Question
The reasons for trade between countries are not in any way different from reasons individuals trade within a ____

Answer
country



Question
______ could therefore be safely defined as trade relation between a country and the rest of the world

Answer
International trade



Question
The act of buying goods or services from a foreign country is called _____

Answer
importing



Question
The act of selling goods or services to a foreign country is called ____

Answer
exporting



Question
An ___ economy is an economy in which there are economic activities between domestic community and outside

Answer
open



Question
Gains from international trade brings about increase ______

Answer
output



Question
The _____ states that countries will benefit from trade with a rise in world output without additional factor inputs when countries specialize in the production of those goods in which their opportunity cost is lower

Answer
law of comparative advantage



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading
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British colonial officials established the West African Currency Board in _____ to help finance the export trade of foreign firms in West Africa

1912

Rapid _____ leads to urbanization and industrialization with their adverse effects on the pattern of living and environment

growth

The term "macro" was first used in economics by _____ in 1933

Ragner Frisch

_____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

Macroeconomics

Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

aggregate economy

Commercial bank is an institution which accepts _____, makes business loans, and offers related

deposits

_____ equals exports minus imports

Net export

Financial institution is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through _____

capital markets

The income not spent on goods and services for current consumption is called _____

savings

_____ can be maintained by following acounter-cyclical monetary Policy

Price stability (www.puredu.net)
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9/10
To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

effective demand

In a geometric function, the MPC is actually the slope of the ______

concumption function

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

Prices

_____ is the total Supply of goods and services produced within an economy at a given overall price level in a given time period

Aggregate Supply

Domestic income does not include the income earned _____

abroad

In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate _____

economic development

At the end of 1988, the banking system consisted of the_____, forty-two commercial banks, and twenty four merchant banks

Central Bank of Nigeria

Increase in _____ results in increase in economic welfare

per capita income

A financial institution is a financial intermediary that accepts ____ and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets

deposits

_____ equals consumer spending plus investment plus government spending plus exports minus imports

Gross Private domestic investment (www.puredu.net)
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10/10
262. C Piguo attaches great importance to ____ because welfare is a very wide term

economic welfare

_____ equals exports minus imports

Net export

The _____ cannot be said to have increased, if the increase in national income is due to exploitation of people

economic welfare

Increase in per capita income results in increase in _____

economic welfare

John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

1929

A financial institution is a financial intermediary that accepts ____ and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets

deposits

The term "macro" was first used in economics by _____ in 1933

Ragner Frisch

Commercial bank is an institution which accepts _____, makes business loans, and offers related

deposits

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

Prices

In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate _____

economic development (www.puredu.net)
(www.puredu.net) (www.puredu.net) ECO122
10/10
32) C Piguo attaches great importance to _____ because welfare is a very wide term

economic welfare

The income not spent on goods and services for current consumption is called _____

savings

The income not spent on goods and services for current ____ is called savings

consumption

The ________suggested that increasing total investment, total output, total income and total consumption should raise unemployment caused by deficiency of effective demand

Keynesian theory of employment

Consumption is the use of goods and services by ______

household

If Nigeria purchased N20 billion of gasoline from other countries last year, but it also sold N80 billion of gasoline to other countries last year, the Nigeria\'s net gasoline exports will be _______

None of the Option

_____ are the net benefits to agents from allowing an increase in voluntary trading with each other

Gain from trade

A ___ company is one which transacts the business of banking which means the accepting for the purpose of lending all investment of deposits of money from the public

banking

Economic welfare is that part of _____ welfare which can directly or indirectly be measured in money

social

At the end of ____, the banking system consisted of the Central Bank of Nigeria, forty-two commercial banks, and 24 merchant banks

1988 (www.puredu.net)
(www.puredu.net) (www.puredu.net) ECO122
10/10
If the change in____ were due to change in prices, it would be difficult to measure the real change in economic welfare

national income

Average Propensity to consume refers to the percentage of income that is spent on goods and services rather than on ______

savings

The income of citizens of a country living abroad is termed ____ from the rest of the world

factor income

_____ is a single mathematical function used to express consumer spending

Consumption function

_______ an institution which accepts deposits, makes business loans, and offers related services

commercial bank

Various functions of commercial banks can be divided into three main groups; ____, Agency Functions and General utility function.

Primary Functions

Increase in ____ results in increase in welfare

per capita income

________ is used when the value of final good and services produced in the economy are added together, of particular period usually a year

Value added method

Meaning of APC is _____

average propensity to consume

The income not spent on goods and services for current ____ is called savings

consumption (www.puredu.net)
(www.puredu.net) (www.puredu.net) 8/10

At the end of 1988, the banking system consisted of the Central Bank of Nigeria, 42 commercial banks, and _____ merchant banks

24

In macroeconomics, _____ is the accumulation of newly produced termed trade surplus entities

goods and services

One of the goals of ______ policy is to stabilize the price level

macroeconomics

commercial bank is an institution which accepts ______, makes business loans, and offers related services

deposits

The term "macro" was first used in economics by _____ in 1933

Ragner Frisch

In _____ several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

1952

Increase in _____ results in increase in economic welfare

per capita income

If the change in ____ were due to change in prices, it would be difficult to measure the real change in economic welfare

national income

The income not spent on goods and services for current consumption is called _____

savings

At the end of 1988, the banking system consisted of the_____, forty-two commercial banks, and twenty four merchant banks

Central Bank of Nigeria



(www.puredu.net)
ECO 122 TMA 2

Keynes alternative definition of ______ is a situation in which aggregate employment is inelastic in response to an increase in the effective demand for its output

.........full employment

The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product

......non-nationals


A bag of cassava has a market value of N500, which is the price Olusanya Nigeria Ltd paid for the cassava. If the cassava undergo series of production system, which has a market value of N1000.00 (the price the company paid for the cassava). The cassava is then made into Garri worth N3000.00 in the market. The intermediate goods in this analysis is_____

............None of the Options


Another term used for ______ in economics is book keeping system

........National income accounting



Policy of _____ is to keeps the value of money stable

...........price stability


The goods sold in the black market, are excluded although they are priced (they have market value) and fulfil the needs of the people but from the social point of view, they are not useful, and thus, the income received from their sales and purchases is always not included in _____.


...........Gross domestic Product


A Shoe maker charges N8000.00 for each pairs of shoe he makes. The Shoe maker pays his shop apprentice N500.00 per cloth made in return for sweeping the floor and other chores. For each shoe produced, what is the total contribution of the shoe maker and his apprentice to GDP?

............N4000


The system the national government uses to measure the level of the country\'s economic activity in a given time period is _______

.........book keeping System


OgoOluwa and sons Ltd is into farming production and he produces N6,000 worth of cattle milk. He sold N1,800 worth of milk to his friends and uses the rest of the milk to feed his livestock, which he at the end sold to his friends for N8,500. What is OgoOluwa and sons Ltd contribution to GDP?

,,,,,,,,,,,,None of the Options


The profits earned or losses incurred on account of changes in capital assets as a result of the fluctuations in market prices are included in GDP if and only if they are not responsible for the current year’s _________

.............Production


















































Eco 122 tma 2 10/10

263. Price stability

264. Time

265. Net Debt

266. Economic growth

267. Per capital Income

268. Labour

269. Open economy

270. Growth

271. Economists

272. National Income
Eco 122 tma 2 10/10

273. _____ can be maintained by following acounter-cyclical monetary Policy
	Price stability

274. Economic growth is measured by the increase in the amount of goods and services in each successive ____ period
	Time

275. Net Debt

276. is defined as the process whereby the real per capita income of a country increases over a long period of time
	Economic growth

277. Increase in _____ results in increase in economic welfare
	Per capital Income

278. The economic welfare cannot be said to have increased, if the increase in national income is due to exploitation of ____
	Labour

279. In an ____ which imports raw materials and other intermediate products at high prices, the cost of production of domestic goods will always rise
	Open economy

280. Rapid _____ leads to urbanization and industrialization with their adverse effects on the pattern of living and environmen
	Growth

281. Generally, _____ belief in the possibility of continual growth
	Economists

282. If the change in ____ were due to change in prices, it would be difficult to measure the real change in economic welfare
	National Income
Eco122 tma3

No _____ existed Nigeria until 1952
	banking legislation

A _____ company is one which transacts the business of banking which means the accepting for the purpose of lending all investment of deposits of money from the public
	banking

British colonial officials established the West African Currency Board in 1912 to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to ____
	British pounds sterling

he meaning of _____ in macroeconomics is disposable income
	Yd

In _____ several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development
	1952

Financial institution is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through _____
	capital markets


If the level of income is 2000, planned export demand equal marginal propensity to import is 0.4 and exogenous import is 340. Calculate the net export.
	none of the options

At the end of _____, the banking system consisted of the Central Bank of Nigeria, 42 commercial banks, and 24 merchant banks
	1988

commercial bank is an institution which accepts ______, makes business loans, and offers related services
	deposits

In 1892 Nigeria's first bank, the ______, was established
	African Banking corporation
Macroeconomics studies the behavior of the individual economic market. True or False? ___________

283. False*
________ was the economist who developed a general theory of income, output and employment.

284. Keynes*
The term “macro” was first used in economics by Ragner Frisch in the year ___________

285. 1933*
Full employment means the absence of __________ unemployment.

286. Involuntary*
One of the goals of macroeconomics policy is to stabilize the price level. True or False? ___________

287. True*
Macroeconomics is the study of ___________ of an economy as a whole

288. Aggregates*
___________ is the summation of all the values of goods and services produced in a country by the nationals and non-nationals.

289. GDP*
Goods and services produced in the previous years are included in the GDP calculation. True or False? _______________

290. False*
Final good or service is the end product of the ___________ process.

291. Production*
A special type of good that is difficult to class as intermediate or final is a ___________ good

292. Capital*
Social security such as unemployment insurance, scholarships are called ___________ payment

293. Transferred*
Problem of ___________ counting is one of the problems of computation of GDP

294. Double*
The income of citizens of a country living abroad is termed ___________ income from the rest of the world

295. Factor*
Net National Product is Gross National Product minus ___________

296. Depreciation*
Domestic income is ___________ income minus net income earned from abroad

297. National*
__________ income is personal income minus direct taxes.

298. Disposable*
Real gross domestic product is nominal gross domestic product that has been adjusted for _____________

299. Inflation*
________ GDP is the GDP measured in the current market prices of the goods and services.

300. Nominal*
Real GDP is called GDP at ___________ prices

301. Constant*
A particular year when prices are normal or stable is called the _______________ year

302. Base*
National income account provides a basis for national economic policies. True or False ___________________

303. True*
National income is GDP less net factor income from ___________

304. Abroad*
When import is subtracted from export, we have ___________ exports

305. Net*
When consumer expenditure is subtracted from the amount of disposable income, it is referred to as ___________

306. Savings*
The current governor of Central Bank of Nigeria is ___________

307. Godwin Emefiele*
___________ is the use of goods and services by households

308. Consumption*
The lender of last resort and financial adviser to the government is ___________ bank

309. Central*
In the consumption function, C = b0 + b1Y ; b0 is referred to as ___________ consumption

310. Autonomous*
b1 in the consumption function is known as ___________ propensity to consume

311. Marginal*
Autonomous consumption represents consumption when income is ___________

312. Zero*
___________ propensity to consume refers to the percentage of income that is spent on goods and services rather than on savings

313. Average*
Government policy is not a determinant of savings. True or False ___________

314. False*
Level of national income is a determinant of investment. True or False ______________

315. True*
___________ coincidence of want is a problem associated with trade by barter

316. Double*
The ease with which money can be carried is referred to as ___________

317. Portability*
Money as a ___________ of exchange is the most important function of money

318. Medium*
Money as a unit of ___________ makes it possible to measure the prices of goods and services

319. Account*
The demand for liquidity for day to day transactions is known as ___________ motive for liquidity.

320. Transactionary*
___________ motive is the demand for liquidity for unforeseen circumstances

321. Precautionary*
A financial institution which accepts deposits, makes business loans, and offers related services is a ___________ bank

322. Commercial*
Non-residential investment is not part of gross private domestic investment. Agree or Disagree ___________________

323. Disagree*
___________ investment is the value of investment in buildings, machinery, before taking away depreciation

324. Gross*
National defence, provision of social amenities , policing, internal and external securities are all part of ___________ spending

325. Government*
Value added tax is an example of ___________ tax

326. Indirect*
Personal income tax, capital gains tax are examples of ___________ tax

327. Direct*
Government consumption and investment are part of government spending but excludes ___________ payments.

328. Transfer*
Government ___________ is money received by a government

329. Revenue*
___________ is a compulsory levy imposed by the government on individuals and business firms

330. Tax*
A situation where tax rate reduces as the size of income increases is ___________ tax

331. Regressive*
Budget ___________ is a status of financial health in which expenditures exceed revenue

332. Deficit*
Macroeconomics studies the behavior of which economic systems

whole (aggregate)

Macroeconomics examines

All of the options

Objectives of macroeconomics does not include

Individual economic market

When the real per capita income of a country increases over a long period of time is known as

economic growth

One of the Keynesian concept of full employment involves

Reduction in the real wage rate

___ is the study of individual economic units of an economy

Microeconomics

The major determinant of macroeconomic problems is

Income

Who developed macroeconomics as a distinct method in economic theory?

John Keynes

The summation of all the values of goods and services produced in a country by the nationals and non-nationals is

Gross domestic product (GDP)

Which of the following is not a problem of national income determination?

None of the options

The followings is not included in the calculation of GDP except

current year production

Domestic income does not include:

Income earned abroad

The ratio of a country’s income to its population is known as ___

Per capita income

Personal income minus direct tax is known as

Disposable income

The importance of national income accounting does not include

For poverty alleviation

There are ___ basic approaches to the measurement of GDP

Three (3)

After subtracting depreciation from GNP, what we get is called

Net national product (NNP).

Aggregate consumption in any economy depends on a number of factors except

Capital accumulation

The determinants of savings does not include

Social cost

Saving is income

Not spent

With disposable income of N20,000 and spending of N8,000. What is APC?

0.4

Components of investment includes

All of the options

Which of the following is not a determinant of investment

None of the options

The exchange of good for goods and services for services is called

Barter system

One of these is not a stage in the evolution of money

Standard money

Who formulated the equation of exchange?

Irvin Fisher

The following are functions of money except

Unit of Measurement

The first money deposit bank in Nigeria was established in the year

1891

One of these is not a function of the central bank

Acceptance of deposits

Precautionary demand for money will be directly influenced by

A person’s level of income

One of the following is not a problem associated with the barter system

None of the options

Holding cash for the purchase of bond and securities is referred to as

Speculative demand for money

The first bank in Nigeria was known as

African Banking Corporation

The primary function of commercial bank is to

Accept deposits from every class

Banks that were licensed before Nigeria’s independence in 1960

First generation banks

The expenditure of households on goods and services is referred to as

Personal consumption expenditure

Gross private domestic investment includes

All of the options

Reasons for the downward sloping of the Aggregate Demand Curve

All of the options

The components of aggregate expenditure does not include

Capital accumulation

Factors that lead to increase in government spending excludes.

Political stability

Reasons why government levy taxes exclude

To punish the citizens

One of these is not a disadvantage of international trade

Technical knowledge

Trade between two countries is known as

Bilateral trade

Three approaches of measuring national income account are

Income, output, expenditure

Reasons for increased government expenditure in Nigeria does not include

Good governance

Compulsory levy by government to the citizens is known as

Taxation

The proponent of the theory of Comparative Cost Advantage

David Ricardo

Comparative advantage doctrine is based on the assumptions except

Unequal cost of production

Which arm of the government implements the budget

The Executive

Roles of government budgets exclude

Advisory
333. One of the goals of ______ policy is to stabilize the price level
ans- macroeconomics

334. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages
ans-  effective demand

335. ___ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level
ans- Macroeconomics

336. __ gave an alternative definition of full employment at another place in his general theory publication
ans-

337. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets
ans- aggregate economy

338. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others
ans-  prices

339. Piguo attaches great importance to economic _____ because welfare is a very wide term.
ans- welfare

340. The term “macro” was first used in economics by _____ in 1933
ans- Ragner Frisch

341. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money
ans- income

342. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____
ans- 1929
______ gave an alternative definition of full employment at another place in his general theory publication

Piguo

An aggregation of an individual\'s income with disregard of direct taxes is referred to as _____

Aggregate income

A summation of all the values of goods and services produced in a country by the nationals and non-nationals of that country is referred to as ____

GDP

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by

Depreciation


The summation of all the values of goods and services produced in a country by the nationals and _____ is called Gross domestic product

non-nationals

Which of the following is not a problem of national income determination?

Problem of paid services

Approaches to measuring GDP are ___ in number

3

The following are components of investment except ____

Marginal investment

An example of fiat money is

Paper naira

Money and wealth are the same thing

TRUE
======
ECO122  NOUN  PQ





343. Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

344. _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

345. The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

346. According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

347. Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

348. John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

349. Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

350. ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

351. To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

352. One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics





33) John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

34) Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

35) _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

36) Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

37) To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

38) Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

39) One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics

40) The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

41) According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

42) ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

ECO122 NOUN EXAM






Mathematically, MPC + MPS = ____
1

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

The meaning of _____ in macroeconomics is disposable income
None of Options

The following except one is the formular of Per Capita Income
National Income/Total Population

Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year
final goods and services

Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____
import expenditure minus net exports

The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

Consumption, Savings and Investment is the theory of ___
National Income accounting

The Central Bank of Nigeria, which was statutorily independent of the federal government in _____
1968

______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms
Value added

Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.
individual private businesses and public sector

The income approach to the calculation of GDP measures GDP in terms of who receives
None of the Option

Merchant banks are set up primarily to cater for the needs of _______
None of the Option

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others
prices

To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages
effective demand

One of the goals of ______ policy is to stabilize the price level
macroeconomics

______ gave an alternative definition of full employment at another place in his general theory publication
Piguo!

_____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level
Macroeconomics

The term “macro” was first used in economics by _____ in 1933
Ragner Frisch

John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____
1929

Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets
aggregate economy

According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money
income

Piguo attaches great importance to economic _____ because welfare is a very wide term.
welfare



Macroeconomics problems was dealt with vigorously by ______ economists
Sismondi and Marx

Given S = -bo + BY, where -bo in the model means__________
autonomous

An example of closed economy is____________
Y = C + I

In the early 1933, macro was used in economics by _________
Ragner Frisch

The following economists execept one is not part of those that developed the theory of money and general prices ____________
Smith

The meaning of macro means __________
Aggregate Economy

The prolem of double counting or multiple counting arises when applying the ______ method to etimate national income
Output expenditure

In the 18th century the ________ economist makes use of macroeconomics
physiocrat

Consumption is the use of goods and services by __________
household

The following except one is not the goal of macroeconomics ____________
Full Production

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

An increase in price expectations shifts the long-run aggregate supply curve to the ___.
Right

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

According to the wealth effect, aggregate demand slopes downward (negatively) because
lower prices increase the value of money holdings and consumer spending increases.

Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply curve
is vertical because an equal change in all prices and wages leaves output unaffected.

A tax is a ____ levy imposed by the government on individuals and business firms as it relates to the incomes, consumption, and production of goods and services
compulsory

Is not one of the characteristics of budget
Proportionality

Given AD = C + I + G + NX , where C = 520 + 0.6Y; I = 120; and G = 200; NX = 12 and T = 150, what is the equilibrium output?
1800

Economists refer to fluctuations in output as the \
Unpredictable

Stagflation occurs when the economy experiences
rising prices and falling output

Which of the following would not cause a shift in the long-run aggregate supply curve?
An increase in price expectations

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'

Which of the following is not a problem of national income determination?
Problem of paid services

If the banks in an economy operate with a reserve ratio of 20 per cent then the money multiplier is:
5

If Obaka buys a newly built retirement home, this transaction would affect
Investment

The use of goods and services by household is referred to as ____
Consumption

Which of the following is not a function of money?
Hedge against inflation

An example of fiat money is
Paper naira

Reserve requirements that may be imposed on an economy’s banks by its central bank specify that banks’ reserves must be a minimum percentage of their
Deposits

Which of the following policy actions by a central bank is likely to increase the money supply?
Buying government bonds in open market operations

Money and wealth are the same thing
FALSE\'

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by
Depreciation

Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of ___ of an economy as a whole.
aggregates

If a tailor buys cloth for N10,000 and thread for N1,000 and uses them to produce and sell N25,000 worth of dresses to consumers, the contribution to GDP is
N25,000

Gross Domestic Product is the sum of the market value of the
Final goods and services.

Gross Domestic Product can be measured as the sum of
Consumption, investment, government purchases, and net exports

Which of the following can be excluded from Nigeria GDP for 2020? The sale of would be
A home built in 2019 by Brains and Harmers at Lugbe and first sold in 2020.

Real GDP is measured in ________ prices while nominal GDP is measured in ________ prices.
base year; current year

An example of a transfer payment is
Unemployment benefits

Nigeria Gross Domestic Product (in contrast to Gross National Product) measures the production and income of
People and factories located within the borders of the Nigeria.

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'



91) According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

92) Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

93) Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

94) The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

95) To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

96) ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

97) John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

98) _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

99) Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

100) One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics



43) The ____ of aggregate demand indicates that a change in taxes will shifts the aggregate demand curve in the direction opposite to that of the change in taxes

	      demand curve

	      supply side

	--->> Keynesian analysis

	      savings curve

44) The problem of ________ arises when applying the Output expenditure

	--->> double counting

	      expenditure

	      National income

	      aggregate supply

45) The _____ are negative when there is decrease in the equilibrium GDP

	      net imports

	--->> net exports

	      investment goods

	      Gross Private Investment

46) Along a given aggregate supply curve an increase in the price level leads to an increase in aggregate output because ______

	      workers work more hours, due to the increase in the real wage

	--->> firms increase production in response to higher profits

	      workers work more hours, due to the decrease in the real wage

	      All of the Options

47) Merchant banks are set up primarily to cater for the needs of ___

	      people

	      Government

	      corporate organization

	--->> None of the Options

48) ______ is defined as the ratio of the change in consumption to the change in income that necessitated it

	      Consumption

	      Savings

	--->> Marginal propensity to consume

	      Investment

49) In a ____ not all basic needs are generally met by the Private sector

	--->> free market economy

	      economy

	      supply sector

	      None of the Options

50) The british colonial officials established the ______ in 1912

	--->> West African Currency Board

	      Nigerian bank

	      monetary authority

	      CBN

51) A sum of N5000.00 is fixed on a shoe, then the fixed tax of N5000.00 is the ________

	      direct tax

	      indirect tax

	--->> Specific tax

	      Advarolem tax

52) In ____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

	      1960

	      1966

	      1955

	--->> 1952



53) Mr Olaoluwa a foreigner buy N800 billion worth of Nigerian exports and Mrs Vivian Odishika a Nigerian buy N700 billion worth of foreign imports in a given year. Therefore, the net exports is_________

	      1Billion

	      22Billion

	      3.2Billion

	--->> None of the Options

54) ______ of import analysis shows that import are purcahses by domestic buyers of goods and services that were produced abroad

	      Investment

	--->> Macroeconomics

	      Microeconomics

	      All of the Options

55) The ______ generation banks are licensed before 1960

	--->> first

	      second

	      third

	      fourth

56) In the ______ consumption expenditure, the component of the consumption is the monthly income reportn

	      Firm's

	--->> personal

	      company's

	      overall

57) _______ is said to be the act of producing capital goods which are not for immediate use

	      Savings

	      Consumption

	--->> Investment

	      Goods and Services

58) Nigeria purchased N11 billion of gasoline fron Mali last year, but it also sold N28 billion of gasoline to Ghana last year, therefore Nigeria's net gasoline export is _________

	      44.2Billion

	      2.3Billion

	      1.5Billion

	--->> None of the Options

59) The Gross Private domestic investment is the total investment in capital by the _____

	      domestic sector

	--->> investors

	      private sector

	      Government sector

60) The motive of holding money for unforseen contingency is ______

	      Transactionary motive

	      Speculative motive

	      Unforseen motive

	--->> precautionary motive

61) In the theory of final consumption expenditure, the expenditure by resident households on the domestic territory and expenditure by resident household abroad are added together but excludes any non-resideent hoseholds' expenditure on the ______

	--->> domestic territory

	      list of consumers

	      overall expenditrure

	      None of the Options

62) The _____ measures the investment used to calculate Gross domestic product in economic measurement of a nation

	      Gross National Product

	      National investment

	      Investment of a nation

	--->> Gross Private domestic investment




1--- banking legislation

2_ banking

3-- British pounds sterling

4__ Yd

5--- 1952

6--- capital markets

7--- none of the options

8___1988

9___ deposits

10___ African Banking corporation


Book keeping system

None of the options

Gross domestice product

Price stability

Production

None of the options

None of the options

Non-nationals

Full employment

National income accounting


ECO122  NOUN EXAM


Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading



Question
Let us assume that planned aggregate demand is given by: AD = C + I + G + NX, Let C = 610 + 0.8Y; I = 220; and G = 800; NX = 10 and T = 250. Calculate the equilibrium output.

Answer
None of the above



Question
A rise in exchange rate when domestic currency rises relative to foreign currency, is called ________

Answer
exchange rate depreciation



Question
When imported goods and services are purchased from abroad, though we pay in local currency in the local market, importers actually purchase those imported goods with the currency of the ____ country from which such goods are purchased.

Answer
foreign



Question
Exports and imports are both affected by _______

Answer
international prices



Question
There are two components of import demand, the one that is fixed, and the one that _____ with income

Answer
varies



Question
___ depend on the spending decisions of domestic consumers

Answer
imports



Question
The spending decisions are guided by the level of ____ , price level, taste and fashion of the foreign consumers

Answer
income



Question
___ depend on spending decisions made by foreign consumers or overseas firms that purchase domestic goods and services

Answer
Exports



Question
____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade

Answer
Gain from trade



Question
Gains from trade are the net benefits to agents from allowing an increase in voluntary ___ with each other

Answer
trading


Try Another Search
If the level of income is 2000, planned export demand equal marginal propensity to import is 0.4 and exogenous import is 340. Calculate the net export.
None of Options??

A public good is associated with ______
Economy of scale??



10/10

Mathematically, MPC + MPS = ____
1

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

The meaning of _____ in macroeconomics is disposable income
None of Options

The following except one is the formular of Per Capita Income
National Income/Total Population

Value added method is used when the value of ______ and ______ produced in the economy are added together, of particular period usually a year
final goods and services

Given the open economy model Y = C + I + G + (X – M), the meaning of (X-M) in the model is_____
import expenditure minus net exports

The Problem of double counting: the greatest difficulty in measuring national income is that of double counting, which arises from the improper distinction between final and an _____
intermediate product

Consumption, Savings and Investment is the theory of ___
National Income accounting

The Central Bank of Nigeria, which was statutorily independent of the federal government in _____
1968

______ for any firm is the market value of its product or service minus the cost of inputs purchased from other firms
Value added

Expenditure approach measures the total value of all, expenditures on goods and services by _______ and ______ in a particular period of time.
individual private businesses and public sector

The income approach to the calculation of GDP measures GDP in terms of who receives
None of the Option

Merchant banks are set up primarily to cater for the needs of _______
None of the Option

Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others
prices

To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages
effective demand

One of the goals of ______ policy is to stabilize the price level
macroeconomics

______ gave an alternative definition of full employment at another place in his general theory publication
Piguo!

_____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level
Macroeconomics

The term “macro” was first used in economics by _____ in 1933
Ragner Frisch

John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____
1929

Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets
aggregate economy

According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money
income

Piguo attaches great importance to economic _____ because welfare is a very wide term.
welfare



Macroeconomics problems was dealt with vigorously by ______ economists
Sismondi and Marx

Given S = -bo + BY, where -bo in the model means__________
autonomous

An example of closed economy is____________
Y = C + I

In the early 1933, macro was used in economics by _________
Ragner Frisch

The following economists execept one is not part of those that developed the theory of money and general prices ____________
Smith

The meaning of macro means __________
Aggregate Economy

The prolem of double counting or multiple counting arises when applying the ______ method to etimate national income
Output expenditure

In the 18th century the ________ economist makes use of macroeconomics
physiocrat

Consumption is the use of goods and services by __________
household

The following except one is not the goal of macroeconomics ____________
Full Production

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

An increase in price expectations shifts the long-run aggregate supply curve to the ___.
Right

Because export is ___ while a part of import is an increasing function of income, net exports are ___ related to national income/national output.
exogenous; negatively

According to the wealth effect, aggregate demand slopes downward (negatively) because
lower prices increase the value of money holdings and consumer spending increases.

Which of the following statements is true regarding the long-run aggregate supply curve? The long-run aggregate supply curve
is vertical because an equal change in all prices and wages leaves output unaffected.

A tax is a ____ levy imposed by the government on individuals and business firms as it relates to the incomes, consumption, and production of goods and services
compulsory

Is not one of the characteristics of budget
Proportionality

Given AD = C + I + G + NX , where C = 520 + 0.6Y; I = 120; and G = 200; NX = 12 and T = 150, what is the equilibrium output?
1800

Economists refer to fluctuations in output as the \
Unpredictable

Stagflation occurs when the economy experiences
rising prices and falling output

Which of the following would not cause a shift in the long-run aggregate supply curve?
An increase in price expectations

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'

Which of the following is not a problem of national income determination?
Problem of paid services

If the banks in an economy operate with a reserve ratio of 20 per cent then the money multiplier is:
5

If Obaka buys a newly built retirement home, this transaction would affect
Investment

The use of goods and services by household is referred to as ____
Consumption

Which of the following is not a function of money?
Hedge against inflation

An example of fiat money is
Paper naira

Reserve requirements that may be imposed on an economy’s banks by its central bank specify that banks’ reserves must be a minimum percentage of their
Deposits

Which of the following policy actions by a central bank is likely to increase the money supply?
Buying government bonds in open market operations

Money and wealth are the same thing
FALSE\'

Diamond Bank has, in the past, always operated with a reserve ratio of 25 per cent. It has now been taken over by Access Bank which operates with a reserve ratio of 12½ per cent. Assuming that Diamond Bank adopts the business practices of its new owner, what will be the effect on money supply in Nigeria in which Diamond Bank operates?
Money supply will increase because Diamond Bank will increase its loans.

The value of plant and equipment worn out in the process of manufacturing goods and services is measured by
Depreciation

Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of ___ of an economy as a whole.
aggregates

If a tailor buys cloth for N10,000 and thread for N1,000 and uses them to produce and sell N25,000 worth of dresses to consumers, the contribution to GDP is
N25,000

Gross Domestic Product is the sum of the market value of the
Final goods and services.

Gross Domestic Product can be measured as the sum of
Consumption, investment, government purchases, and net exports

Which of the following can be excluded from Nigeria GDP for 2020? The sale of would be
A home built in 2019 by Brains and Harmers at Lugbe and first sold in 2020.

Real GDP is measured in ________ prices while nominal GDP is measured in ________ prices.
base year; current year

An example of a transfer payment is
Unemployment benefits

Nigeria Gross Domestic Product (in contrast to Gross National Product) measures the production and income of
People and factories located within the borders of the Nigeria.

For an economy as a whole, income equals expenditure because the income of the seller must be equal to the expenditure of the buyer.
TRUE\'



101) According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national _____, because both of them are measured in terms of money

	--->> income

	      calculation

	      profit

	      All of the Options

102) Piguo attaches great importance to economic _____ because welfare is a very wide term.

	      goods

	--->> welfare

	      activities

	      None of the Options

103) Rising and falling ____ are both bad because they bring unnecessary loss to some and undue advantage to others

	      demand and supply

	      supply

	--->> prices

	      All of the Options

104) The term “macro” was first used in economics by _____ in 1933

	      Keynes

	      Etilla Shuabu

	--->> Ragner Frisch

	      Adams Smith

105) To achieve full employment, Keynes advocated increase in ______ to bring about reduction in real wages

	      supply

	      welfare

	--->> effective demand

	      None of the Options

106) ______ gave an alternative definition of full employment at another place in his  general theory publication

	      Adams Smith

	--->> Piguo

	      Keynes

	      John Mills

107) John Maynard Keynes developed a general theory of income, output and employment in the wake of the Great Depression of ____

	      1933

	      1922

	      1928

	--->> 1929

108) _____ examines economy-wide phenomena such as changes in unemployment, national income, rate of growth of gross domestic product, inflation and price level

	      National income

	--->> Macroeconomics

	      Miroeconomics

	      All of the Options

109) Macroeconomics studies the behavior of the whole ______ or economic systems rather than individual economic markets

	      aggregate demand

	      aggregate supply

	      aggregate money

	--->> aggregate economy

110) One of the goals of ______ policy is to stabilize the price level

	      economics

	      monetary

	      Miroeconomics

	--->> macroeconomics



63) The ____ of aggregate demand indicates that a change in taxes will shifts the aggregate demand curve in the direction opposite to that of the change in taxes

	      demand curve

	      supply side

	--->> Keynesian analysis

	      savings curve

64) The problem of ________ arises when applying the Output expenditure

	--->> double counting

	      expenditure

	      National income

	      aggregate supply

65) The _____ are negative when there is decrease in the equilibrium GDP

	      net imports

	--->> net exports

	      investment goods

	      Gross Private Investment

66) Along a given aggregate supply curve an increase in the price level leads to an increase in aggregate output because ______

	      workers work more hours, due to the increase in the real wage

	--->> firms increase production in response to higher profits

	      workers work more hours, due to the decrease in the real wage

	      All of the Options

67) Merchant banks are set up primarily to cater for the needs of ___

	      people

	      Government

	      corporate organization

	--->> None of the Options

68) ______ is defined as the ratio of the change in consumption to the change in income that necessitated it

	      Consumption

	      Savings

	--->> Marginal propensity to consume

	      Investment

69) In a ____ not all basic needs are generally met by the Private sector

	--->> free market economy

	      economy

	      supply sector

	      None of the Options

70) The british colonial officials established the ______ in 1912

	--->> West African Currency Board

	      Nigerian bank

	      monetary authority

	      CBN

71) A sum of N5000.00 is fixed on a shoe, then the fixed tax of N5000.00 is the ________

	      direct tax

	      indirect tax

	--->> Specific tax

	      Advarolem tax

72) In ____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development

	      1960

	      1966

	      1955

	--->> 1952



73) Mr Olaoluwa a foreigner buy N800 billion worth of Nigerian exports and Mrs Vivian Odishika a Nigerian buy N700 billion worth of foreign imports in a given year. Therefore, the net exports is_________

	      1Billion

	      22Billion

	      3.2Billion

	--->> None of the Options

74) ______ of import analysis shows that import are purcahses by domestic buyers of goods and services that were produced abroad

	      Investment

	--->> Macroeconomics

	      Microeconomics

	      All of the Options

75) The ______ generation banks are licensed before 1960

	--->> first

	      second

	      third

	      fourth

76) In the ______ consumption expenditure, the component of the consumption is the monthly income reportn

	      Firm's

	--->> personal

	      company's

	      overall

77) _______ is said to be the act of producing capital goods which are not for immediate use

	      Savings

	      Consumption

	--->> Investment

	      Goods and Services

78) Nigeria purchased N11 billion of gasoline fron Mali last year, but it also sold N28 billion of gasoline to Ghana last year, therefore Nigeria's net gasoline export is _________

	      44.2Billion

	      2.3Billion

	      1.5Billion

	--->> None of the Options

79) The Gross Private domestic investment is the total investment in capital by the _____

	      domestic sector

	--->> investors

	      private sector

	      Government sector

80) The motive of holding money for unforseen contingency is ______

	      Transactionary motive

	      Speculative motive

	      Unforseen motive

	--->> precautionary motive

81) In the theory of final consumption expenditure, the expenditure by resident households on the domestic territory and expenditure by resident household abroad are added together but excludes any non-resideent hoseholds' expenditure on the ______

	--->> domestic territory

	      list of consumers

	      overall expenditrure

	      None of the Options

82) The _____ measures the investment used to calculate Gross domestic product in economic measurement of a nation

	      Gross National Product

	      National investment

	      Investment of a nation

	--->> Gross Private domestic investment




1--- banking legislation

2_ banking

3-- British pounds sterling

4__ Yd

5--- 1952

6--- capital markets

7--- none of the options

8___1988

9___ deposits

10___ African Banking corporation


Book keeping system

None of the options

Gross domestice product

Price stability

Production

None of the options

None of the options

Non-nationals

Full employment

National income accounting
Bfn209
Balance sheet shows the present _______ of a business. (Statement)
Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)
BUS205
___________ is a means by which power is acquired, exercised and sustained. (Communication)
Non __________ income is used to buy items to meet basic needs. (Discretionary)
_________motivation also causes you to be loyal to certain shops and companies. (Patronage)
__________ is a book in which particulars of all monies received or paid are recorded. (Cash Account)
___________ is the value that products and sellers place on goods or services. (Price)
Social __________ is owed by individuals and not by organizations. (Obligation)
_______ researchers also gather information from a wider group of people. (Market)
The _______ is the total amount supplied by owner of the business or owners equity or net worth. (Capital)
__________ must be attractive. (Packaging)
________include the resources possessed by the firm. (Assets)
BUS207
Verbal communication is one way for people to communicate ______________. (Face to face)
The actual origin of ___________ is subject to considerable speculation(Language)
If a language is about communicating with signals, voice, sounds, gestures, or written symbols, can animal communications be considered as a ___________? (Language)
The basis of _________________ is the interaction between people. (Communication)
Animals do not have a __________ form of a language, but use a language to communicate with each another. (Written)
Some words may be imitative of natural __________, but others may come from expressions of emotion, such as laughter or crying. (Sounds)
Some of the key components of verbal communication are sound, writing, speaking, and ______________. (Language)
A dialogue is a reciprocal conversation between _______ or more entities, (TWO)
As meaning is assigned to words, language develops, which leads to the ___________ of speaking. (Development)
At birth, most people have vocal cords, which produce __________. (Sounds)
BUS106
It could be argued that the _______ school is identical to the management process school. (Empirical)
Art is the imposition of __________. (Pattern)
___________ are best seen as fundamental or general truth on which other truths depend.(Pinciple)
Gilbreth is known for his work on time and _________studies. (Motion)
Decision theory schools believe in _________decision making. (Rational)
The first principles of management were advocated. (Henry fayol)
There are special areas of management that are not subjected to rigous of(Science)
spend his life working on the difference engine (Babbage)
Management can be define as getting thing done through (Organising)
Management can be define as a team or group of individuals in _________(Organisation)
ECO122
Exports are determined by factors outside the control of the ___ economy (Home)
The two components of import demand is fixed, and at the same time it varies with (Income)
The ____ are guided by the level of income, price level, taste and fashion of the foreign consumers (Spending Decision)
In technical terms, _____ is the increase of consumer surplus plus producer surplus from lower tariffs or otherwise liberalizing trade (Gain from trade)
Gains from trade are the net benefits to agents from allowing an increase in voluntary ______ with each other (Trading)
Import demand changes as______ changes (Income)
Because export is exogenous while a part of import is an increasing function of income, net exports are_____ related to national income/national output (Negatively)
_____ depend on the spending decisions of domestic consumers (Import)
When income rises, the aspect of _____ rises as well and when income falls, it falls (Import demand)
Exports depend on spending decisions made by foreign ____ or overseas firms that purchase domestic goods and services (Consumer)
ECO231
The demand for goods and services is __ (Direct Demand)
The prices paid to the factors of production are called (All of the above)
Reason for the study of factor pricing are (All of the above)
The demand of factor of product can also be Joint Demand because for producer to produce orange he/she has to demand for all the _(factors of production)
The factors needed in the production process are also known as (Production Service)
The factor pricing is concerned with the determination of prices of services of factors of ______ (Production)
To produce goods and services, ____ need the services of factors of production, like land, labour, capital, and entrepreneur (FIRMs)
The theory of distribution is an attempt to explain how income is distributed among the factors of __ (Production)
The employer of factors of production only uses the factors in the production of goods and services to be finally sold in the ____(Product Market)
When workers are engaged or capital are borrowed, it does not offer any direct satisfaction to the ____ (Producer)
The production concept holds that consumers will value products that are highly (Affordable)
Another important role is the discovery of entrepreneurial talent (Agree)
Marketing's first role is to (Stimulate Aggregate potential demand)
Consumerism is an organized movement of citizens and government to fight wars on poor products(Disagree)
Commodity approach in marketing focuses on (Classes of products)
The major goal of an organization to an extent is (Profit)
The product concept holds that consumers value products that offer (High Quality)
Marketing concept holds that organization must first create to satisfy (Needs and want)
One of the significance of marketing is to provide (impulse purchase)
The purpose of marketing concept is to help organizations (Achieve its goal
BFN203
According Gardon (2014), there is a remarked difference between capital gains investing and the game of speculation
The_________ is a document which sets broad parameters for taxation and ancillary matters connected with taxation (National tax Policy
investing is the art of buying and selling an asset for a profit (Capital Gain Investing)
__ is a technique that reduces risk by allocating investments among various financial instruments, industries and other categories (Diversification)
some or all of a loan when the borrower is ins (Credit Insurance)
The steps involved in personal financial planning process Include all of the following except________ (Goal Division)
are options to purchase common stock at a specified price up to a specified date (Warrants)
Is a type of tax (PAYE)
Owning a current and savings account have the same requirements (False)
Ent203
The achievement needs theory was developed by (McCelland)
Which of the following emphasized the risk aspect of entrepreneurship (Cantillon)
Which of the following a pattern of venture capital development (Mid Stage)
Entrepreneurial process include the following stages except? (Profit Planning)
(New Monnies)
VC stands for (Venture Capital)
Which of the following will not support in-house entrepreneurial development in organizations (Bickering)
CIT201
The software that uses the power and speed of a computer machine to perform some mathematical calculations or simulate some real life situations is called a ___ software. (Modeling)
Ent 209
Friedrich Hayek (1937 is a prominent of( Austrian school of thought)
An entrepreneur who is a rebellion and tries to bring in new ways of working and new society is called ____________________ (Reformist)
The Nigerian Bank for Commerce and Industry (NBCI) was set up in 1973 to provide ____________ by way of loans to indigenous persons, institutions and organisations for medium and long term investments (Equity and Loan)
The risk theory proposes that the _________________ the nature of business, the __________________________ (More Risky Higer profit)
The Human Capital Entrepreneurship Theory is hinged on these two factors _______________ and ________________ (Education and Experience)
* One of the credit functions of BOA is the direct lending to qualified loan applicants engaged in agricultural and nonagricultural small busine (correct)
Mkt 205
Certain (question) are often asked while formulating product strategy
In most organizations, __________ is an annual process, typically covering just the year ahead (Strategic planning)
An important element of distribution strategy for banks is __ (Site Location)
High interest s rate on deposits or reduction rates on loans and advances are good examples of pricing ___________ (Pricing Strategy)
The marketing concept rest on ______________pillars (Four)
A good marketing plan should have the following qualities (All of the above)
are attracted through promises and are retained through satisfaction of expectations (Customers)
Place strategies are concerned with ensuring the prompt delivery of the services to the _______ (Target Market)
_ must always come first before other activities (Planning)
described the emergence of services sector and banks experience in service marketing (Gupta)
acc102
These are accounting concepts except.








ECO122 List of eExam Questions in the Bank
Latex formatted questions may not properly render
Q1 Net exports equals
Q2 Gross Private domestic investment equals consumer spending plus investment plus government spending plus
Q3 Gross Private Domestic investment is a relatively specific measure of
Q4 Gross Private domestic investment measures is used to calculate nation
Q5 If import is greater than exports it is called
in economic measurement of a
Q6 If exports is greater than imports it is called
Q7 Net exports can be seen as
Q8 The Personal Consumption is the largest part of
Q9 The gross domestic product is the summation of all the values of goods and services produced in a country by the and non-nationals
Q10 The second generation banks were bank lincensed between	years
Q11 The first generation bank in Nigeria were lincensed before
Q12 National income accounting provides economists and statisticians with detailed information that can be used to track the health of an
Q13 Central bank of Nigeria began Operations in
Q14 British Colonial Officials established the	in 1912
Q15 Nigeria first bank the African banking corporation was established in
Q16 Per capita income is defined as the ratio of a country’s income to its
Q17 Economic growth is defined as the process whereby the time
Q18 According to Keynes, full employment means the absence of
of a country increases over a long period of
Q19 Macroeconomics studies the behavior of the whole (aggregate) economy or economic systems rather than individual
Q20 A rise in domestic inflation can plunge the economy into
Q21 Positive net export that is current account surplus can be used to recover the economy from
Q22 The factor that affect trade flows is the changes in
Q23 Mr Olusanya Samuel an American consumer intends to buy Nigeria product wort of N1000.00, given that exchange rate is 50, so the amount of dollars he need for the transaction is
Q24 A rise in exchange rate when domestic currency rises relative to foreign currency is called
Q25 A fall in exchange when domestic currency falls relative to foreign currency is called
Q26 When exchange rate rises, import demand is
Q27 When exchange rate fall, import demand becomes
Q28 Given that the amount of naira needed when we want to buy $100 worth of US and the exchange rate falls to $50 and product given that exchange rate is N500.00, the amount of naira needed is
Q29 Given that the amount of naira needed when we want to buy $100 worth of United State of America product given that exchange rate is N500.00, the amount of naira needed is
Q30 The rate at which the naira is exchanged for the dollar is called
Q31 International prices affects
Q32 C + I in macroeconomic modelling means
Q33 (X-M) in macroeconomic modelling means
Q34 Mo in macroeconomic modelling means
Q35 Xo in macroeconomic modelling means
Q36 Import demand is the one that changes as
Q37 Imports is treated as	varaible because firmknowthe amount of intermediate goods or capital goods
Q38 Imports depends on the	decisions of domestic consumers
Q39 Export is treated as exogenous varaible because it is determined by factors outside the control of the
Q40 The spending decisions of the government are guided by the level of income, price level, taste and fashion of the
Q41 Export depend on spending decisions made by foreign consumers or overseas firms that purchase domestic
Q42 An example of closed economy model is
Q43 An example of open economy model is
Q44 Gain fromtade are commonly described as resulting fromspecialization in production from
Q45 Gain fromtrade can be defined further in technical terms as the increase of consumer surplus plus producer surplus from tariffs
Q46 Gain fromtrade are the net benefits to agents fromallowing an increase in	trading with each other
Q47 The theory where a country specialises in the production of a commodity or services in which it has a lower opportunity cost is called
Q48 David Ricardo was the proponent of the theory of
Q49 Adam Smith is well known with the theory of
Q50 The theory where the goods and services in which a country is more efficient or can produce more than the other country or produce the same amount with other country using fewer resources is called
Q51 International trade can be defined as	between a country and the rest of the world
Q52 International economics is concerns with economic relationships within and among
Q53 An Open economy is the economy in which there are economic activities between
Q54 National income accounting is a termused in economics to refer to the	system
Q55 The financial statement of the sources and uses of the government is
Q56 The bearer of the burden of tax is called
Q57 The deliberate act of exploiting the loopholes in the tax regulations to manipulate his economic situation in other to pay lower tax is called
Q58 Tax evasion is a deliberate attempt by a tax payer not to pay
Q59 If a Machine tool is N2,000,000 and an ad valoremtax of 8 percent is imposed, then tax paid is
Q60 If a sumof N200.00 is fixed on a shirt, then the fixed tax N200.00 is called the
Q61	is tax levied is proportional to the tax base or income of the individual
Q62 Regressive tax is a situation where	reduces as the size of income decreases
Q63 Progressive tax is a situation where tax rate increases as the size of
Q64 The two types of tax are
Q65 A tax is a	imposed by the government on individuals and business firms as it relates to the incomes,
consumptions and production of goods and services
Q66 Revenue earned by the government are received fromsources such as accumulation of individuals and corporation
on the incomes and wealth
Q67 Government revenue is the	available to fund the activities of a government
Q68 Government Spending also means
Q69 Government Spending is the spending activities carried out by the	of a country
Q70 Aggregate Supply curve shows the relationship between the overall price level
by all firms in an economy and the
Q71 Aggregate Supply is the period
Q72 Aggregate demand is the
produced within an economy at a given overall price level in a given time
in the economy
Q73 Aggregate demand curve is the relationship between	that firms are willing to provide
Q74 In macroeconomics, investment is the accumulation of newly produced	entities
Q75 Gross investment is the value of investment in buildings, machinery before taking away
Q76 Nigeria's first bank, the African Banking Corporation, was established in
1890
1877
1894
1892
Q77 Mr Afees Oyebo purchase a machine tool at N3,000,000 and an ad valoremtax of 21 percent is imposed, calculate the tax Mr Afees Oyebo finally paid on the machone tools.
N430,000 N630,000 N70.00
None of the above
Q78 If a sumof N800.00 is fixed on a shirt, then the fixed tax of N800.00 is the	tax
Custom Duty Free Specific Import
Q79	tax is leveid proportional to the tax base or income of the individual
Progressive Regressive Proportional None of the above
Q80	tax is a situation where tax rate reduces as the size of income increases
Progressive Regressive Proportional Neutal
Q81 The two types of taxes are	and	tax
Direct and Income Company and Indirect Direct and indirect
al of the above
Q82 The first generation bank were banks that were licensed before
1966
1960
1970
1977
Q83	an institution which accepts deposits, makes business loans, and offers related services
Central Bank Merchant Bank Commercial Bank Insurance Company
Q84 Finance and insurance services represented more than	of Nigeria's GDP in 1988
* 	percent
* 	percent
* 	percent
al of the above
Q85 The Central Bank of Nigeria, which was statutorily independent of the federal government until 1968, began operations on
July Ist 1955
July 1st 1959
June 1st 1959
July 1st 1949
Q86 In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate
Economic growth Economic activities Economic Development None of the above
Q87 British colonial officials established the West African Currency Board in
1993
1912
1922
1990
Q88 In	Nigeria's first bank, the African Banking Corporation, was established
1999
1899
1892
1992
Q89	is a situation when you hold money for investment purposes
Precautionary motive Speculative motive Expenses motive
al of the above
Q90 Economists take the study of money seriously because evidence suggests that
The money supply and the price level move clsoely together Money and interest rate movements are related
Business cycle downturns are preceded by downturns in money growth al of the above are true
Q91 Developing countries stand to gain frominternational trade because
Trade enables themto specialize in producing where they have a comparative advantage Trade gives themaccess to the greater variety of goods produced abroad
Trade subjects their local producers to greater competition al of the above are true
Q92 The calculation of goods produced by Nigerian nationals in South Africa and the one produced in Nigeria is called
Gross Nation's Product Gross National Product Gross Domestic Product Al of the above are true
Q93 Macroeconomics as the field of economics that studies the behavior of the
economy
micro-economy aggregate economy multisector economy
Q94	make(s) it more likely that small countries will trade internationally because their costs of getting products over their borders are worth the effort
Technological cost Transport costs Labor costs
al of the above are true
Q95 Consumption, Savings and Investment is the theory of
Neo-Classical Economist Economics
Keynesian Economist National Income accounting
Q96 The graph that shows the relationship between consumption and income is
Consumption graph Nation income graph Investmentn graph
Savings graph
Q97 Average propensity to consume refers to
the relationship between consumption and savings
the position where a poor person move to a better level
percentage of income that is spent on goods and services rather than on savings percentage of income that is not spend on goods and services rather than on savings
Q98 Investment in economics can be defined as
the amount invested in a business amount use for daily transaction
the act of producing capital goods which are not for immediate consumption net additions to series of investment
Q99 Which of the following is a primary function of money?
to serve as an encouragement to work to serve as a unit of account
to raise funds for the government
to reduce the burden of excessive imports
Q100 The following except one is the most important goals of macroeconomics objective in an economy
Economic growth balanced of payment Price stability Exchange rate
Q101 What is the real GDP IN 2014?
N10,080 N1440 N10,134
none of the above
Q102 GDP valued at current year prices or nominal GDP fromthe analysis above are	and
N1,774 and 9800 N3,731 and N9,230 N3,080 and N9800
none of the above
Q103 Using the analysis above, What is the GDP FOR 2014?
N9,800 N9,230 N1400
none of the above
Q104 Use the following information to answer question 67, 68, 69 and 70. Let us assume that Nigeria produces only two food stuff: Garri and Rice. The prices and quantities of these two food stuff in 2013 and 2014 are as follows: in 2013 the quantity for Garri and Rice produced are 280 and 420 respectively while Prices of Garri and Rice are N70 AND N56 respectively. For 2014; the quantity for Garri and Rice are 560 and 840 respectively while Prices of Garri and Rice are N140 AND N70 respectively. using the analyis above, what is the GDP for 2013
N3,731 N1,774 N3,080
none of the above
Q105 Disposable income or personal disposable income is the actual income which an individual spent on
Personal Expenses Personal savings Personal purchases none of the above
Q106 The british colonial officials established the West African Currency Board in
1922
1933
1912
1927
Q107 In	year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development
1955
1923
1953
1952
Q108 Merchant banks are set up primarily to cater for the needs of
corporate and institutional debtors corporate organization
commercial banks and institutional customers none of the above
Q109 Economists take the study of money seriously because evidence suggests that
The money supply and the price level move clsoely together Money and interest rate movements are related
Business cycle downturns are preceded by downturns in money growth al of the above are true
Q110 Which of the following is a central issue in macroeconomics?
the deregulation of the banking industry inflation of prescription drug prices
the ef ect of excise taxes on consumers' buying patterns none of the above
Q111 Which of the following is a primary function of money?
to serve as an encouragement to work to serve as a unit of account
to raise funds for the government
to reduce the burden of excessive imports
Q112 The functions of money are
medium of exchange, unit of account, and store of value pricing, contracts, and means of payment
medium of exchange and the ability to buy goods and services medium of exchange, unit of account, and means of payment
Q113 Money can be define as
Anything that can be used to purchase items
Anything that is generaly accepted, as a means of exchange and payment/settlement of debts. the means of exchanging goods for goods
anything that is use for capital goods
Q114 Investment in economics can be defined as
the amount invested in a business amount use for daily transaction
the act of producing capital goods which are not for immediate consumption net additions to series of investment
Q115 The formular for savings function is
S = - b0 + BY S= b1 + By
S= b0 + bYd S= -bo + Yd
Q116 Marginal propensity to consume is defined as
the percent change in savings and income
the percentage change in interest rate and consumption the ratio of investment to Savings
the ratio of the change in consumption to the change in income that necessitated it
Q117 Average propensity to consume refers to
the relationship between consumption and savings
the position where a poor person move to a better level
percentage of income that is spent on goods and services rather than on savings percentage of income that is not spend on goods and services rather than on savings
Q118 The graph that shows the relationship between consumption and income is
Consumption graph Nation income graph Investmentn graph Savings graph
Q119 Budget is needed to performsome allocative function just as the     mechanism performs in the private sectoe
Goods Fiscal Price
Al of the above
Q120 The financial plan of the projected expenditures and revenues of a unit of Government to ensure fiscal period is
The supply of goods and services the budget
the Government expenses None of the above
Q121	is the difference between total government expenditure that is taxes minus government expenditure
Budget deficit Budget balance Budget suplus Budget analysis
Q122 Budget is a document that exolicitly describe the spending decision of the government against the project    and the
Deficit and revenue Supply and revenue Revenue and source None of the above
Q123	theory states that a country should specialise in the production of a commodity or service in which it has a lower opportunity cost.
Comparative disadvantage Comparative advantage Absolute Disadvantage None of the above
Q124	is the goods or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources
The theory of comparative cost advantage The theory of Absolute advantage
The theory of international trade Al of the above
Q125	was the main author of Comparative advantage
Adams Smith David Ricardo John Smith
None of the above
Q126 Adams Smith is associatd with the theory of
Comparative advantage Absolute advantage Theory of trade
None of the above
Q127 The following except one are the importance of international trade.
imports serve domestic industry exports acts as agents of growth imports serve foreign consumers None of the above
Q128 Is true that the reason for trade between countries are not in any way different fromreasons individuals trade within a country.
TRUE FALSE
A and B
None of the above
Q129       is a trade relation between a country and the rest of the world
International trade International prices A and B
None of the above
Q130 Spending by foreigners is a component of
Spending
Goods and services Total spending
Al of the above
Q131 Prices of	varies in nature
International transaction Goods and services International goods
Al of the above
Q132 Economy that is in recession can recover by reducing      and increasing export supply.
Import Supply Export demand Import demand Al of the above
Q133 A fall in domestic inflation will help the economy to recover fromrecession through
Decrease in net export Decrease in net import Increase in net export Al of the above
Q134	,	, and	have implication on the output performnace of the domestic economy
exchange rate, inflation and deflation Inflation, deflation and exchange rate policy
exchange rate, domestic inflation and foreign inflation None of the above
Q135 Positive net export (current account surplus) can be used to recover the economy from
Boom Recession
Bad Government None of the above
Q136 Given a planned aggregate demand: AD = C + I + G + NX, where C = 610 + 0.8Y, I = 210, NX = 10 and T = 220. Calculate the equilibrium output.
4200
4700
4000
None of the above
Q137 Depreciation makes	cheaper and	expensive.
Export and import Exchange rate and goods
Importation and exchange rate Al of the above
Q138 Consider a United States of America consumer that intends to buy Nigeria product worth N8000.00, how much dollars does he need for the transaction? Given the exchange rate to be 210.
30
38.1
34.09
None of the above
Q139	is the rate at which the naira is exchange for the dollar
Local currency Exchange price Exchange rate Bureau de change
Q140	and	are affected by international prices.
Import X and Y Export X and Y Import and prices None of the above
Q141 Assuming the income is 2500, planned export demand is 800, marginal propensity to import is 0.2 and exogenous import is 250. Calculate the net export
300
200
100
None of the above
Q142 If the level of income is 1000, planned export demand equal marginal propensity to import is 0.2 and exogenous import is 250. Calculate the net export.
301
300
350
None of the above
Q143 Meaning of Mo in export tarde is
Exogenous M Autonomous M
Imported basic investment goods None of the above
Q144 Meaning of Xo in export trade is
Exogenous X autonomous X Export demand None of the above
Q145 Because is exogenous while a part of import is an inceasing function of  , net export are negatively related to national output
Export, import Import, export Export, income Al of the above
Q146 The two components of import demand are	and	.
Fixed and mixed Mixed and rises Fixed and rises None of the above
Q147 The	are guided by the level of income, price level, taste and fashion of foreign consumers.
Decision making process Decision in trade Spending Decision None of the above
Q148 Microeconomics is the study of individual economic units of an economy whereas macroeconomics is the study of	of an economy as a whole
aggregates smal Exports
Al of the above
Q149	is describe as a result of specialization in production fromeconomies of scale, scope, division of labor
International trade Production
Gains from trade Trade Production
Q150	is the benefits to economic agents for allowing an increase in voluntary trading.
Net Output Net input Net Supply Net
eco122 List of Questions
Latex formatted questions may not properly render
Q1 If Nigeria purchased N30 billion of gasoline from other countries last year, but it also sold N70 billion of gasoline to other countries last year, the Nigeria's net gasoline exports will be
N40 Billion
Q2 Various functions of commercial banks can be divided into three main groups; Primary Functions, Agency Functions and
General utility function
Q3 The two essential functions that a financial institution must perform to become a bank are accepting deposit and
Lending to the public
Q4 A banking company is one which transacts the business of banking which means the accepting for the purpose of lending all
of deposits of money from the public
investment
Q5 The meaning of Yd in macroeconomics is
disposable income
Q6		an institution which accepts deposits, makes business loans, and offers related services
commercial bank
Q7 At the end of 1988, the banking system consisted of the Central Bank of Nigeria, forty-two commercial banks, and
merchant banks
24
Q8 In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate
economic development
Q9 British colonial officials established the West African Currency Board in	to help finance the export trade of foreign firms in West Africa and to issue a West African currency convertible to British pounds sterling
1912
Q10 No banking legislation existed Nigeria until
1952
Q11 In	Nigeria's first bank, the African Banking Corporation, was established
1892
Q12 A	is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets
financial institution
Q13 The following are the motives of holding money except Spending Motive
Q14 The following are not functions of money except
store of value
Q15 The following are the characteristics of money except
individuality
Q16 Increase in per capita income results in increase in
Economic welfare
Q17 The	cannot be said to have increased, if the increase in national income is due to exploitation of labour Economic welfare
Q18 If the change in national income were due to change in prices, it would be difficult to measure the real change in
Economic welfare
Q19 According an economists A.C Piguo, assert that there is a close relationship between economic welfare and national income, because both of them are measured in terms of
money
Q20	attaches great importance to economic welfare because welfare is a very wide term.
Piguo
Q21 Economic welfare is that part of social welfare which can directly or indirectly be measured in
money
Q22 One of the great welfare economists is
2) C. Pigou
Q23 Economic welfare is a state of the mind which reflects human happiness and
satisfaction
Q24 Investment in economics can be defined as the act of producing capital goods which are not for	consumption
immediate consumption
Q25 The inverse of average propensity to save is the Average propensity to consume
Q26 The average propensity to save is an economic term that refers to the proportion of income that is	rather than spent on goods and services
saved
Q27 Determinants of savings are the followings except
Government factor
Q28 The income not spent on goods and services for current consumption is called
savings
Q29 Marginal propensity to consume is defined as the ratio of the change in consumption to the change in	that necessitated it income
Q30 Meaning of APS is
None of the above
Q31	refers to the percentage of income that is spent on goods and services rather than on savings
Average Propensity to consume
Q32 Meaning of APC is
average propensity to consume
Q33 In a geometric fashion, the MPC is actually the slope of the	function Consumption
Q34 The meaning of MPC is marginal propensity to consume
Q35 The marginal propensity to consume, on the other hand measures the rate at which	is changing when income is changing
consumption
Q36 Autonomous consumption represents consumption when income is
zero
Q37	was developed by John Maynard Keynes and detailed most famously in his book The General Theory of Employment, Interest, and Money
Consumption function
Q38	is a single mathematical function used to express consumer spending
Consumption function
Q39 Consumption is distinct from consumption expenditure, which is the	of goods and services for use by households
Purchase
Q40 Consumption is the use of goods and services by
household
Q41 A banking company is one which transacts the business of banking which means the accepting for the purpose of lending all
of deposits of money from the public investment
Q42 The meaning of Yd in macroeconomics is
disposable income
Q43 The	method calculates the total expenditure required to purchase the nation's output
Output ??? expenditure
Q44	measures the total value of all, expenditures on goods and services by individual private businesses and public sector (governments) in a particular period of time
Expenditure approach
Q45	is used when the value of final good and services produced in the economy are added together, of particular period usually a year
Value added method
Q46 The following are three basic approaches to the measurement of GDP except one
Value-added approach
Q47 Disposable income or personal disposable income is the actual income which an individual spent on
consumption
Q48	is defined as the ratio of a country???s income to its population, while GDP per capita is defined as the ratio of a country???s GDP to the population of the country
Per capita income
Q49 Domestic income does not include the income earned
abroad
Q50 The income of citizens of a country living abroad
Macroeconomics studies the behavior of the individual economic market. True or False?
False
was the economist who developed a general theory of income, output and employment.
Keynes
The term “macro” was first used in economics by Ragner Frisch in the year
1933
Full employment means the absence of	unemployment.
Involuntary
One of the goals of macroeconomics policy is to stabilize the price level. True or False?
True
Macroeconomics is the study of	of an economy as a whole
Aggregates
is the summation of all the values of goods and services produced in a country by the nationals and non-nationals.
GDP
Goods and services produced in the previous years are included in the GDP calculation. True or False?
False
Final good or service is the end product of the	process.
Production
A special type of good that is difficult to class as intermediate or final is a	good
Capital
Social security such as unemployment insurance, scholarships are called	payment
Transferred
Problem of	counting is one of the problems of computation of GDP
Double
The income of citizens of a country living abroad is termed	income from the rest of the world
Factor
Net National Product is Gross National Product minus
Depreciation
Domestic income is	income minus net income earned from abroad
National
income is personal income minus direct taxes.
Disposable
Real gross domestic product is nominal gross domestic product that has been adjusted for
Inflation
GDP is the GDP measured in the current market prices of the goods and services.
Nominal
Real GDP is called GDP at	prices
Constant
A particular year when prices are normal or stable is called the	year
Base
National income account provides a basis for national economic policies. True or False
True
National income is GDP less net factor income from
Abroad
When import is subtracted from export, we have	exports
Net
When consumer expenditure is subtracted from the amount of disposable income, it is referred to as
Savings
The current governor of Central Bank of Nigeria is
Godwin Emefiele
is the use of goods and services by households
Consumption
The lender of last resort and financial adviser to the government is	bank
Central
In the consumption function, C = b0 + b1Y ; b0 is referred to as	consumption
Autonomous
b1 in the consumption function is known as	propensity to consume
Marginal
Autonomous consumption represents consumption when income is
Zero
propensity to consume refers to the percentage of income that is spent on goods and services rather than on savings
Average
Government policy is not a determinant of savings. True or False
False
Level of national income is a determinant of investment. True or False
True
coincidence of want is a problem associated with trade by barter
Double
The ease with which money can be carried is referred to as
Portability
Money as a	of exchange is the most important function of money
Medium
Money as a unit of	makes it possible to measure the prices of goods and services
Account
The demand for liquidity for day to day transactions is known as	motive for liquidity.
Transactionary
motive is the demand for liquidity for unforeseen circumstances
Precautionary
A financial institution which accepts deposits, makes business loans, and offers related services is a
bank
Commercial
Non-residential investment is not part of gross private domestic investment. Agree or Disagree
Disagree
investment is the value of investment in buildings, machinery, before taking away depreciation
Gross
National defence, provision of social amenities , policing, internal and external securities are all part of
spending
Government
Value added tax is an example of	tax
Indirect
Personal income tax, capital gains tax are examples of	tax
Direct
Government consumption and investment are part of government spending but excludes
payments.
Transfer
Government	is money received by a government
Revenue
is a compulsory levy imposed by the government on individuals and business firms
Tax
A situation where tax rate reduces as the size of income increases is	tax
Regressive
Budget	is a status of financial health in which expenditures exceed revenue
Deficit
Macroeconomics studies the behavior of which economic systems whole (aggregate)
Macroeconomics examines All of the options
Objectives of macroeconomics does not include Individual economic market
When the real per capita income of a country increases over a long period of time is known as economic growth
One of the Keynesian concept of full employment involves Reduction in the real wage rate
is the study of individual economic units of an economy Microeconomics
The major determinant of macroeconomic problems is Income
Who developed macroeconomics as a distinct method in economic theory?
John Keynes
The summation of all the values of goods and services produced in a country by the nationals and non-nationals is
Gross domestic product (GDP)
Which of the following is not a problem of national income determination? None of the options
The followings is not included in the calculation of GDP except current year production
Domestic income does not include:
Income earned abroad
The ratio of a country’s income to its population is known as
Per capita income
Personal income minus direct tax is known as Disposable income
The importance of national income accounting does not include For poverty alleviation
There are	basic approaches to the measurement of GDP Three (3)
After subtracting depreciation from GNP, what we get is called Net national product (NNP).
Aggregate consumption in any economy depends on a number of factors except Capital accumulation
The determinants of savings does not include Social cost
Saving is income
Not spent
With disposable income of N20,000 and spending of N8,000. What is APC? 0.4
Components of investment includes All of the options
Which of the following is not a determinant of investment None of the options
The exchange of good for goods and services for services is called Barter system
One of these is not a stage in the evolution of money Standard money
Who formulated the equation of exchange? Irvin Fisher
The following are functions of money except Unit of Measurement
The first money deposit bank in Nigeria was established in the year 1891
One of these is not a function of the central bank Acceptance of deposits
Precautionary demand for money will be directly influenced by A person’s level of income
One of the following is not a problem associated with the barter system None of the options
Holding cash for the purchase of bond and securities is referred to as
Speculative demand for money
The first bank in Nigeria was known as African Banking Corporation
The primary function of commercial bank is to Accept deposits from every class
Banks that were licensed before Nigeria’s independence in 1960 First generation banks
The expenditure of households on goods and services is referred to as Personal consumption expenditure
Gross private domestic investment includes All of the options
Reasons for the downward sloping of the Aggregate Demand Curve All of the options
The components of aggregate expenditure does not include Capital accumulation
Factors that lead to increase in government spending excludes. Political stability
Reasons why government levy taxes exclude To punish the citizens
One of these is not a disadvantage of international trade Technical knowledge
Trade between two countries is known as Bilateral trade
Three approaches of measuring national income account are
Income, output, expenditure
Reasons for increased government expenditure in Nigeria does not include Good governance
Compulsory levy by government to the citizens is known as Taxation
The proponent of the theory of Comparative Cost Advantage David Ricardo
Comparative advantage doctrine is based on the assumptions except Unequal cost of production
Which arm of the government implements the budget The Executive
Roles of government budgets exclude Advisory
eco122 TMA1 List of Questions
Latex formatted questions may not properly render
Q1 Prices of _______ varies in nature
International transaction
Q2 Economy that is in recession can recover by reducing ______ and increasing export supply.
Import demand
Q3 A fall in domestic inflation will help the economy to recover from recession through _______
Increase in net export
Q4 ______, _______, and _______ have implication on the output performnace of the domestic economy
exchange rate, domestic inflation and foreign inflation
Q5 Positive net export (currnt account surplus) can be used to recover the economy from _____
Recession
Q6 Given a planned aggregate demand: AD = C + I + G + NX, where C = 610 + 0.8Y, I = 210, NX = 10 and T = 220. Calculate the equilibrium output.
4700
Q7 Depreciation makes _____ cheaper and _____ expensive.
Export and import
Q8 Consider a United States of America consumer that intends to buy Nigeria product worth N8000.00, how much dollars does he need for the transaction? Given the exchange rate to be 210.
38.1
Q9 _____ is the rate at which the naira is exchange for the dollar
Exchange rate
Q10 ______ and _____ are affected by international prices.
None of the above
Q11 Assuming the income is 2500, planned export demand is 800, marginal propensity to import is 0.2 and exogenous import is 250. Calculate the net export
None of the above
Q12 If the level of income is 1000, planned export demand equal marginal propensity to import is 0.2 and exogenous import is 250. Calculate the net export.
350
Q13 Meaning of Mo in export tarde is ______
Imported basic investment goods
Q14 Meaning of Xo in export trade is ______
Export demand
Q15 Because ______ is exogenous while a part of import is an inceasing function of ____, net export are negatively related to national output
Export, income
Q16 The two components of import demand are _____ and _____.
None of the above
Q17 The _____ are guided by the level of income, price level, taste and fashion of foreign consumers.
Spending Decision
Q18 ______ depends on spending decisions made by foreign consumers or overseas from the purchase of domestic goods and services.
Imports duty
Q19 ______ is describe as a result of specialization in production from economies of scale, scope, division of labor
Gains from trade
Q20 ____ is the benefits to economic agents for allowing an increase in voluntary trading.
Net
eco122 TMA2 List of Questions
Latex formatted questions may not properly render
Q1 Which of the following is a primary function of money?
to serve as a unit of account
Q2 Macro was first used in economics by Ragner Frisch in _____
1933
Q3 Money can be define as __________
Anything that is generally accepted, as a means of exchange and payment/settlement of debts.
Q4 Investment in economics can be defined as ________
the act of producing capital goods which are not for immediate consumption
Q5 The formular for savings function is __________
S = - b0 + BY
Q6 Marginal propensity to consume is defined as _________
the ratio of the change in consumption to the change in income that necessitated it
Q7 Average propensity to consume refers to ________
percentage of income that is spent on goods and services rather than on savings
Q8 The graph that shows the relationship between consumption and income is _______
Consumption graph
Q9 Budget is needed to perform some allocative function just as the _____ mechanism performs in the private sector.
Price
Q10 The financial plan of the projected expenditures and revenues of a unit of Government to ensure fiscal period is _____
the budget
Q11 _____ is the difference between total government expenditure that is taxes minus government expenditure
Budget balance
Q12 Budget is a document that exolicitly describe the spending decision of the government against the project ____ and the _____
Revenue and source
Q13 _____ theory states that a country should specialise in the production of a commodity or service in which it has a lower opportunity cost.
Comparative advantage
Q14 ______ is the goods or service in which a country is more efficient or can produce more than the other country or can produce the same amount with other country using fewer resources
The theory of Absolute advantage
Q15 ______ was the main author of Comparative advantage
David Ricardo
Q16 Adams Smith is associatd with the theory of ______
Theory of trade
Q17 The following except one are the importance of international trade.
imports serve foreign consumers
Q18 The reason for trade between countries are not in any way different from reasons individuals trade within a __________.
Country
Q19 ______ is a trade relation between a country and the rest of the world
International trade
Q20 Spending by foreigners is a component of ______
Total spending
eco122 TMA3 List of Questions
Latex formatted questions may not properly render
Q1 Developing countries stand to gain from international trade because
all of the above are true
Q2 The calculation of goods produced by Nigerian nationals in South Africa and the one produced in Nigeria is called _______
Gross National Product
Q3 Macroeconomics as the field of economics studies the behavior of the ____
aggregate economy
Q4 _______________ make(s) it more likely that small countries will trade internationally because their costs of getting products over their borders are worth the effort
Transport costs
Q5 Consumption, Savings and Investment is the theory of _______
National Income accounting
Q6 The graph that shows the relationship between consumption and income is _______
Consumption graph
Q7 Average propensity to consume refers to ________
percentage of income that is spent on goods and services rather than on savings
Q8 Investment in economics can be defined as ________
the act of producing capital goods which are not for immediate consumption
Q9 Which of the following is a primary function of money?
to serve as a unit of account
Q10 The following except one is the most important goals of macroeconomics objective in an economy
Exchange rate
Q11 What is the real GDP IN 2014?
N10,080
Q12 GDP valued at current year prices or nominal GDP from the analysis above are ____ and _____
N3,080 and N9800
Q13 Using the analysis above, What is the GDP FOR 2014?
N9,800
Q14 Use the following information to answer question 67, 68, 69 and 70. Let us assume that Nigeria produces only two food stuff: Garri and Rice. The prices and quantities of these two food stuff in 2013 and 2014 are as follows: in 2013 the quantity for Garri and Rice produced are 280 and 420 respectively while Prices of Garri and Rice are N70 AND N56 respectively. For 2014; the quantity for Garri and Rice are 560 and 840 respectively while Prices of Garri and Rice are N140 AND N70 respectively. using the analyis above, what is the GDP for 2013
N3,080
Q15 Disposable income or personal disposable income is the actual income which an individual spent on _____
none of the above
Q16 The british colonial officials established the West African Currency Board in ______
1912
Q17 In _____ year several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate economic development
1952
Q18 Merchant banks are set up primarily to cater for the needs of _______
none of the above
Q19 Economists take the study of money seriously because evidence suggests that
all of the above are true
Q20 Which of the following is a central issue in macroeconomics?
inflation of prescription drug prices
eco122 TMA4 List of Questions
Latex formatted questions may not properly render
Q1 Nigeria's first bank, the African Banking Corporation, was established in _____
1892
Q2 Mr Afees Oyebo purchase a machinee tool at N3,000,000 and an ad valorem tax of 21 percent is imposed, calculate the tax Mr Afees Oyebo finally paid on the machine tools.
N630,000
Q3 If a sum of N800.00 is fixed on a shirt, then the fixed tax of N800.00 is the _____ tax
Specific
Q4 _____ tax is levied proportional to the tax base or income of the individual
Proportional
Q5 ______ tax is a situation where tax rate reduces as the size of income increases
Regressive
Q6 The two types of taxes are _____ and _____ tax
Direct and indirect
Q7 The first generation bank were banks that were licensed before _______
1960
Q8 ______ an institution which accepts deposits, makes business loans, and offers related services
Commercial Bank
Q9 Finance and insurance services represented more than ______ of Nigeria's GDP in 1988
3 percent
Q10 The Central Bank of Nigeria, which was statutorily independent of the federal government until 1968, began operations on ______
July 1st 1959
Q11 In 1952 several Nigerian members of the Federal House of Assembly called for the establishment of a central bank to facilitate ______
Economic Development
Q12 British colonial officials established the West African Currency Board in _____
1912
Q13 In ____ Nigeria's first bank, the African Banking Corporation, was established
1892
Q14 ______ is a situation when you hold money for investment purposes
Speculative motive
Q15 Economists take the study of money seriously because evidence suggests that
all of the above are true
Q16 From the early days of civilization, those in power have always rely on _____ as a method of generating income
Taxation
Q17 ______ is the income available to fund the activities of a governmnet
Government revenue
Q18 ______ Budget is a situation in which income exceeds expenditures
Surplus
Q19 ______ expenditure are expenditures on capital projects
Capital
Q20 Developing countries stand to gain from international trade because
all of the above
======
BFN209
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161. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

162. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

163. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

164. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

165. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

166. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

167. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

168. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

169. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

170. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

======
BFN209
======

171. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

172. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

173. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

174. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

175. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

176. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

177. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

178. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

179. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

180. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

======
BFN209
======

181. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

182. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

183. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

184. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

185. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

186. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

187. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

188. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

189. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

190. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

======
BFN209
======

191. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

192. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

193. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

194. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

195. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

196. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

197. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

198. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

199. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

200. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

======
BFN209
======

201. Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

202. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

203. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

204. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

205. Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

206. The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

207. There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

208. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

209. Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

210. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

======
BFN209
======

211. Any activity that requires ___________ affects the financial resources of a firm or business

	      Financial risks

	--->> Cash budgeting

	      Capital gains

	      Cash flow

212. The financial asset traded in the financial market promises future benefits in the form of ______________

	--->> Cash payments

	      Capital gains

	      Cash flow

	      Financial growth

213. Financial Institutions and _________ are the major external sources of long-term funds in a business or firm

	      Factoring

	--->> Capital market

	      Money market

	      Capital gain

214. Shareholders invest their money in the shares of a company in the expectation of a return on their __________

	      Cash flow

	      Financial risk

	--->> Invested capital

	      Economic growth

215. The ownership rights of holders in an organisation is known as __________

	      Rights issue

	      Public issue

	--->> Shares

	      Internal Finance

216. Which of the following is not one of the three types of leases

	--->> Investment lease

	      Sale and leaseback

	      Operating lease

	      Financial lease

217. The two kinds of markets in exitence are Financial market and _________

	--->> Real Assets market

	      Capital market

	      Currency market

	      Debt market

218. The shareholders return on the shares of a company consists of Dividend and __________

	      Cash flow

	      Rights issue

	      Fixed income

	--->> Capital gain

219. The essential features of a partnership are all of the following except________

	      Life of partnership is limited because it is a legal entity

	      Partnership is not separated from the partners.

	--->> Partnership involves one person coming into business

	      Setting-up cost is low and it is easy to form

220. Borrowed fund or finance in a business is known as ________

	      Equity

	      Risk

	      Investment

	--->> Debt

FBQ1: Finance plays a very important role in any ----------- activities
Answer: Business

FBQ2: A business is a concern, an enterprise, or organization set up by an individual or group of individuals for the purpose of making -------- from operations of the concern.
Answer: Profit

FBQ3: Finance may be defined as the provision of money at the time it is-----------
Answer: Required

FBQ4: The --------- are expected to be arranged in such a way that fund (money) is always available to make necessary payments as they arise.
Answer: Inflows

FBQ5: Oyekanmi (2003) defined finance “as money affairs or money -------- ”
Answer: Matters

FBQ6: According to Hornby (2001), finance is the money need or needed to--------- an activity, project, programme etc. and or the management ofmoney.
Answer: Support

FBQ7: -------- evolved from economics as its branch in the early part of the 20th century
Answer: Finance

FBQ8: Money is the common ---------- for the full range of activities performed in the business.
Answer: Denominator

FBQ9: ----------- is the medium of exchange in business
Answer: Money

FBQ10: A ------- generates whatever capital it needs and utilizes it in activities which generate returns on invested capital
Answer: Firm

FBQ11: Internal finance is also known to as ------- fund/finance
Answer: Equity

FBQ12: External finance is also known to as ------- fund/finance
Answer: Borrowed

FBQ13: The equity fund/finance is solely owned by ------------------
Answer: Shareholders

FBQ14: Buyers of shares are called ------------------------
Answer: Shareholders

FBQ15: Shareholders invest their money in the shares of a company in theexpectation of a return on their invested ----------- .
Answer: Capital

FBQ16: The return for shareholders consists of ----------- and capital gain.
Answer: Dividend

FBQ17: In a financial system, the Household are also referred to as ____
Answer: Consumers.

FBQ18: ----------- represent ownership rights of their holders
Answer: Shares

FBQ19: Shareholders can be of two types that is, preference and ------------
Answer: Ordinary

FBQ20: There are two kinds of markets, namely real assets and ---------
Answer: Financial

FBQ21: ----------- markets are for physical or tangible assets such as plant, machinerywheat, office, gold, buildings etc.
Answer: Real

FBQ22: Intangible ------------ include copyrights, patent, technical know-how.
Answer: Assets

FBQ23: Financial market trades on ------------  assets
Answer: Financial

FBQ24: ---------- shareholders receive dividend at a fixed rate and they enjoy apriority over ordinary shareholders.
Answer: Preference

FBQ25: A ----------- can also obtain equity funds by retaining earnings available forshareholders.
Answer: company

FBQ26: ----------- shareholders they enjoy a priority over ordinary shareholders.
Answer: Preference

FBQ27: A ------------ is a certificate stating the amount of money lent by a holder to the company.
Answer: Bond

FBQ28: A business organization performs ---------- functions simultaneously andcontinuously in the normal course of its activities.
Answer: Finance

FBQ29: ---------- decisions involve capital expenditures which are referred to ascapital budgeting decision.
Answer: Investment

FBQ30: Capital structure is the mix of equity and ------------
Answer: Debt

FBQ31: The capital structure is said to be optimum when the market value of shares is --------------.
Answer: Maximized

FBQ32: The ----------- of profits distributed as dividend is called the dividend-payout ratio.
Answer: Proportion

FBQ33: The ---------- ratio is the retained portion of profits.
Answer: Retention

FBQ34:  The --------- policy is determined by its impact on the shareholder’s value.
Answer: Dividend

FBQ35: Liquidity and ------------ affect investment in current assets in business organizations.
Answer: Profitability

FBQ36: ------------------- of an enterprise is affected by the level of management of current asset.
Answer: Liquidity

FBQ37: Risk of illiquidity (lack of liquidity), in extreme situations, can lead to a business --------------
Answer: Insolvency

FBQ38: -------------- assets if properly/efficiently managed would safeguard the business organization against risk of illiquidity.
Answer: Current

FBQ39: ------------ risks are risks that some accident may destroy or spoil some physical goods created by the work financed.
Answer: Physical

FBQ40: ------------ risks are those risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan,hence it may fall short of achieving the intention
Answer: Technical

FBQ41: The simplest form of finance is where the whole of finance required by aparticular enterprise is provided by an ------------------.
Answer: Entrepreneur

FBQ42: Partnership and Limited Liability Company are two main ----------- forms under which people join together on equal terms to provide the finance needed for an enterprise, sharing fully in both risks and profits.
Answer: Institutional

FBQ43: ------------------------ and Limited Liability Company are two main institutional forms under which people join together on equal terms to provide the finance needed for an enterprise, sharing fully in both risks and profits.
Answer: Partnership

FBQ44: The ------------------ oversees or manages the enterprise’s liquid assets, liabilities, payroll and cashier activities, credits and collections, forecasting, capital budgeting and investment and financing.
Answer: Treasurer

FBQ45: The Treasurer is an active participant in long-range financial -------------
Answer: Planning

FBQ46: In ----------  economy of a country, prices of goods and services aredetermined by the forces of demand and supply.
Answer: market

FBQ47: ----------- mechanism (system) is a vital organ of a market economy, showing the goods and services required in the community.
Answer: Price

FBQ48: The ---------- price is where demand and supply match.
Answer: Equilibrium

FBQ49: ------- is the expected variability of the income flow.
Answer: Risk

FBQ50: Business firms are frequently profit oriented with maximization of profitas the proper -------------
Answer: Objective

MCQ1: ------------------- defined finance “as money affairs or money matters”.
Answer: Oyekanmi (2003)

MCQ2: --------------- is an
example of external finance
Answer: Loan

MCQ3: The return to shareholders consists of …………. and capital gain
Answer: dividend

MCQ4: Money is the common denominator for the full range of activities performed in the business.
Answer: true

MCQ5: According to Anao (1993), which one of the following is an example of money or near-money?
Answer: Certificate of deposits

MCQ6: Which of the following is not a product of financial market?
Answer: Patent

MCQ7: Finance evolved from accounting
Answer: false

MCQ8: Undistributed profits is also known as ----------------
Answer: Retained earnings

MCQ9: The capital structure of a firm could be defined as -------------
Answer: The mix of equity and debt

MCQ10: ------------------ are risks of losses because of unforeseen intervention by governments.
Answer: Political risks

MCQ11: Economic risks are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan
Answer: false

MCQ12: Shareholders can be of two types, namely preference and --------------------
Answer: Ordinary

MCQ13: Financial decisions is concerned with the acquisition and not disposal of assets through commitment or recommitment of funds on a continuous basis.
Answer: False

MCQ14: Finance manager's duties include
Answer: Selecting and evaluating projects

MCQ15: Product pricing/costing policy are jointly determined by the --------------
Answer: marketing/sales department and financial planning staff.

MCQ16: The Treasurer is an active participant in long-range financial planning.
Answer: True

MCQ17: The accounting and control function for the finance manager include
Answer: Tax matters

MCQ18: Price mechanism is a vital organ of a ---------------, showing the goods and services required in the community.
Answer: market economy

MCQ19: Which one is not a limitation of profit maximization according to Pandey (2005)?
Answer: It is certain

MCQ20: Profit maximization objective is not always clear to stakeholders of the firm.
Answer: True

MCQ21: The account manager is responsible for performing finance functions in a firm
Answer: false

MCQ22: Which of the following was not always a major events in the life the firm for raising funds
Answer: Annual general meeting

MCQ23: Which one of the following is the regulator of the capital market in Nigeria
Answer: The Nigerian Securities and ExchangeCommission

MCQ24: -------------------- is the meeting point for investors and firms
Answer: Capital market

MCQ25: ----------- is an example of fixed asset
Answer: furniture and fittings

MCQ26: --------------------- is a book in which receipts and payment of money are recorded
Answer: Cash book

MCQ27: Which one is not an example of current liability?
Answer: Trade debtors

MCQ28: Profit after tax is  --------------- item
Answer: An income statement

MCQ29: The balance sheet is more important than other financial statements to report the activities and performance of the firm
Answer: false

MCQ30: Profit planning is not related to considering -----------------
Answer: Depreciation

MCQ32: Cash flow element include ----------------
Answer: Investing Activities

MCQ33: --------------- refers to the management of current  assets and liabilities
Answer: Working capital management

MCQ34: The aim of cash management is not to maintain adequate control over cash position to be able to keep the enterprise sufficiently liquid and to use excess cash in some profitable way.
Answer: False

MCQ35: Components of short-term asset are the following except
Answer: Creditors

MCQ36: Business need to hold cash to achieve the ------------- motive
Answer: speculative

MCQ37: A --------------- have the legal right to enter into a contract, sue and be sued in its name.
Answer: limited liability company

MCQ38: Operators of companies are by law to register with ---------------
Answer: Corporate Affairs Commission

MCQ39: The promoters of a limited liability company must apply for registration with ……..
Answer: Memorandum and Articles of Association

MCQ40: Long-term sources of funds represent
Answer: Debenture

MCQ41: Debenture  stocks  are normally issued under a firm’s seal
Answer: True

MCQ42: --------------------- are the preference shares that allow for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend
Answer: Cumulative preference shares

MCQ43: Which one is not an example of lease financing?
Answer: Debenture lease

MCQ44: ---------------- convey upon the holders the right to convert these shares into equity shares in accordance with the terms of issues.
Answer: Convertible preference shares

MCQ45: Budgeting helps to identify the ----------- desired
Answer: Output

MCQ46: Planning helps to identify the ---------- required.
Answer: Inputs

MCQ47: A financial plan is a budget that interprets some elements of a plan in financial terms.
Answer: False

MCQ48: ------------------------ is the financing decisions and practices of individual households, businesses and non-business
Answer: micro finance

MCQ49: Debenture  stocks  is also known as --------------
Answer: Corporate bonds

MCQ50: ----------- is a creditor to the firm.
Answer: A debenture stock holder

MCQ31: An enterprise’s long-term projected plan should reflect its long-term pricing policy.
Answer: True


Course Code
bfn209


Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur


Try Another Search
A new capital a company re-acquires from the existing shareholders after distributing all earnings to shareholders is known as _____
Rights Shares

____shows the present statement of a business and the financial condition of an accounting entity as at a particular point in time.
Balance sheet

_____ are not owners of the company, but they provide money to enterprises as loan which are debt.
Creditors



The mix of equity and debt id called?
capital structure

____is the pillar upon which all economic activities stand
Finance

Financial market trades on financial assets which promises future benefits in all of the following except ___
Promissory notes


BFN209 tma1 10/10
The risk that threatens the complete or partial loss of the postponed fruits of effort can be classified into the following except____
Financial risks

Finance functions include the following EXCEPT.
expenditure function

The Encyclopedia of Banking and Finance classified finance into three categories except_____
A general term to denote the theory and practice of ralationship management and investment analysis

Finance evolved from economics as its branch in the early part of the _____ century
20th

Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.
The Shorter Oxford English Dictionary

Another name for the management of money is __________
Finance

The management of Finance is the pillar upon which all ________ activities stand
Economic

Money is the medium of exchange in business, the other two elements are production(operation) and ___________
Marketing

the provision of money at the time it is required isdescribed as ?.
finance

__is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares
Rights Shares

One of the following is not a medium of exchange in business
Investment


91. The internal finance in a business is also known as ____
11. Equity

2)The following are the fields of finance except __
2) Production/Operation

3)The proportion of profits from a firm distributed as dividend is called the_____
c) Dividend payout ratio

4)A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____
c) Internal Finance

7)Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are ____
d) Preference shareholders

8)the field of finance originally covers which of the following
intruments of Finance

10)The common denominator for the full range of activities performed in business is known as __
3) Money


The internal finance in a business is also known as ________
Equity

Without the existence of ___________ No business can survive
Finance

The management of Finance is the pillar upon which all ________ activities stand
Economic

_________ defined Finance as
Oyekanmi (2003)

Another name for the management of money is __________
Finance

One of the following is not a medium of exchange in business
Investment

__________ activities in a business provide goods and services to customers
Operation

In any private or public institution _________ plays an important role
Finance

The common denominator for the full range of activities performed in business is known as __________
Money

The following are all forms of near-money except ________
Preference shares

Buyers of shares are called _______________ and they are the legal-owners of the business whose shares they hold.
Shareholders

____________are for physical or tangible assets such as plant, machinery wheat, office, gold, buildings
Capital market

The common denominator for the full range of activities performed in the financcial sector is ___________
Money

Capital expenditures which are referred to as capital budgeting decision are reffered to as _____________
Investment decisions

_________invest their money in the shares of a company in the expectation of a return on their invested capital.
Shareholders

____________ is called borrowed fund or finance and referred to also as debt.
External Finance

The return on shareholder\'s investment in shares consists of Dividend and ___________
Capital gain

Money is the medium of exchange in business, the other two elements are production(operation) and ___________
Marketing

The proportion of profits from a firm distributed as dividend is called the_____________
Dividend payout ratio

A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____________
Internal Finance


BFN209

1:External finance all the following EXCEPT?
.........equity

2: the provision of money at the time it is required isdescribed as ?.
.................finance

3: The mix of equity and debt id called?
............capital structure

4: Finance functions include the following EXCEPT.
.........expenditure

5:Finance evolved from economics as its branch in the early?
.............20th centruy

6:internal finance is known as ?
..............equity fund

7: which of the following is the common denominator for the full range of activities performed in the business?
............money

8: Finance functions include the following EXCEPT?
.......expenditure  function

9: the field of finance originally covers which of the following?
..........instrument of finance

10: The risk that threatens the complete or partial loss of a business entity can be classified under the following headings Except?
..........presidential risk
BFN209 TMA1

* Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called Real Markets (Ans)
* Who defined finance as the system that includes the circulation of money, the granting of credit, the making of investments and the provision of banking facilities : Answer Webster third international dictionary.
* There are two kinds of markets, Financial market and (ans) Real assets markets
* The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except (ans) acquisition of financial resources for the organization.
* Who define finance as to lend, to settle debt, pay ransom, furnish, and procure. Ans: The shorter Oxford English Dictionary
* The Encyclopedia of Banking and Finance classified finance into three categories (ans)A general term to denote the theory and practice of ralationship management and investment analysis
* Financial market trades on financial assets which promises future benefits in all of the following except Ans: promissory notes.

* The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except____investment analysis
* The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except Ans(strategy)
* The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and (ans) capital gain.


10/10
Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur
======
BFN209
======

2) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

3) Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

4) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

5) The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

6) The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

7) Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

8) There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

9) The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

10) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

11) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market





b) Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

c) The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

d) There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

e) Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

f) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

g) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

h) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

i) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

j) The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

k) The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

======
BFN209
======

12) Any activity that requires ___________ affects the financial resources of a firm or business

	      Financial risks

	--->> Cash budgeting

	      Capital gains

	      Cash flow

13) The financial asset traded in the financial market promises future benefits in the form of ______________

	--->> Cash payments

	      Capital gains

	      Cash flow

	      Financial growth

14) Financial Institutions and _________ are the major external sources of long-term funds in a business or firm

	      Factoring

	--->> Capital market

	      Money market

	      Capital gain

15) Shareholders invest their money in the shares of a company in the expectation of a return on their __________

	      Cash flow

	      Financial risk

	--->> Invested capital

	      Economic growth

16) The ownership rights of holders in an organisation is known as __________

	      Rights issue

	      Public issue

	--->> Shares

	      Internal Finance

17) Which of the following is not one of the three types of leases

	--->> Investment lease

	      Sale and leaseback

	      Operating lease

	      Financial lease

18) The two kinds of markets in exitence are Financial market and _________

	--->> Real Assets market

	      Capital market

	      Currency market

	      Debt market

19) The shareholders return on the shares of a company consists of Dividend and __________

	      Cash flow

	      Rights issue

	      Fixed income

	--->> Capital gain

20) The essential features of a partnership are all of the following except________

	      Life of partnership is limited because it is a legal entity

	      Partnership is not separated from the partners.

	--->> Partnership involves one person coming into business

	      Setting-up cost is low and it is easy to form

21) Borrowed fund or finance in a business is known as ________

	      Equity

	      Risk

	      Investment

	--->> Debt

l) The short-term liabilities of a firm includes all of the following except______

	--->> Lendings

	      Trade advances

	      Creditors

	      Borrowings

m) The dividend rate for _________ shareholders is not fixed and can vary from year to year depending on the board of directors.

	      Preference

	      Cumulative Preference

	--->> Ordinary

	      Participating Cumulative shares

n) ________is an artificial creature, invisible, intangible, and existing only in contemplation of law. As a legal (artificial) person, it is separate from the owners. It can enter into a contract, sue and be sued in its name.

	--->> limited liability company

	      Agency Relationship

	      partnership

	      Sole proprietorship

o) Cash management is concerned with the managing of the following except________

	      Cash flows into and out of the enterprise

	      Cash flows within the enterprise

	--->> All of the above

	      Cash  balances  held  by  the  enterprise  at  a  point  of  time  by financing deficit or investing surplus cash.

p) _______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

	      Convertible preference shares

	      Participating Cumulative shares

	      Participating Non-Cumulative shares

	--->> Cumulative preference shares

q) The following are the motives for holding cash except_______

	      Transaction motive

	--->> Budgetary motive

	      Precautionary motive

	      Speculative motive

r) The Memorandum of Association of a company must contain the following information except_____-

	      objects for which the company is formed

	      address of the registered office of the effect that the ‘liability’ of the members or shareholders is ‘limited’

	--->> address of the company and the reason why it is in existence

	      name of the company, with the term “Limited” as the last word of the name

s) The following are the main components of working capital management except______

	      Cash Management

	--->> Fixed income

	      Receivables Management

	      Inventory Management

t) The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

	      CBN

	      SEC

	--->> NSE

	      CSCS

u) ___________may be made to attract new and existing shareholders to contribute equity capital

	--->> Public issue

	      External finance

	      Rights issue

	      Preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur
22) There are two kinds of markets, Financial market and _______
ans-  Real assets market
23) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________
ans- Real markets
24) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.
ans-  The Shorter Oxford English Dictionary
25) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______
ans-  Investment Analysis
26) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____
ans-  Capital gain
27) Financial market trades on financial assets which promises future benefits in all of the following except _______
ans-  Promissory notes
28) Who defined finance as the system that includes the circulation of money, the granting of credit, the making of investments and the provision of banking facilities?
ans- Webster’s third International Dictionary
29) The Encyclopedia of Banking and Finance classified finance into three categories except_____
ans- A general term to denote the theory and practice of ralationship management and investment analysis
30) he three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____
ans-  Strategy
31) : The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____
ans-
32) which of the following is the common denominator for the full range of activities performed in the business?

money

33) Finance functions include the following EXCEPT?

liquidity function

34) External finance all the following EXCEPT?

debt

35) The mix of equity and debt id called?

capital structure

36) the provision of money at the time it is required isdescribed as ?.

finance

37) Finance functions include the following EXCEPT.

liquidity function


Budget is
38)
profit plan based

A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____________
d.
Internal Finance

The capital structure is said to be optimum
39)
when the market value of shares is maximized

The financing decisions and practices of the entire economy are related to ___________
40)
Micro Finance

Investment proposals should be analysed and evaluated in terms of both
v)
Expected return and risk

Define Political Risk
d.
These are risks of losses as the result of unforeseen intervention by governments

What is Cash Management?
w)
Managing cash flow in and out of the orgnaisation

Capital market is a metting point for lenders and ............. of long term funds
x)
borrowers

The central issue with Financing Function is the
y)
determination of appropriate proportion of internal (equity) and external (debt)

One important aspect of investment decisions is
c.
Prospective profitability of new investment

Profit planning is related to considering the following main factors except
z)
goodwill


Capital structure is also know as what?
c)
gearing

The dividend rate for ordinary shareholders is not fixed and can vary from year to year depending on the _____________
d.
Board of directors

What is the direction of relationship between Risk and Return in Investment?
c.
Opposite direction

The main components of Working capital management include .................
d.
all of the options

What do shares represent?
d)
Ownership rights of their holders

Finance is better described as what?
e)
money mangement
BFN209  NOUN EXAM





A new capital a company re-acquires from the existing shareholders after distributing all earnings to shareholders is known as _____
Rights Shares

____shows the present statement of a business and the financial condition of an accounting entity as at a particular point in time.
Balance sheet

_____ are not owners of the company, but they provide money to enterprises as loan which are debt.
Creditors



The mix of equity and debt id called?
capital structure

____is the pillar upon which all economic activities stand
Finance

Financial market trades on financial assets which promises future benefits in all of the following except ___
Promissory notes


BFN209 tma1 10/10
The risk that threatens the complete or partial loss of the postponed fruits of effort can be classified into the following except____
Financial risks

Finance functions include the following EXCEPT.
expenditure function

The Encyclopedia of Banking and Finance classified finance into three categories except_____
A general term to denote the theory and practice of ralationship management and investment analysis

Finance evolved from economics as its branch in the early part of the _____ century
20th

Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.
The Shorter Oxford English Dictionary

Another name for the management of money is __________
Finance

The management of Finance is the pillar upon which all ________ activities stand
Economic

Money is the medium of exchange in business, the other two elements are production(operation) and ___________
Marketing

the provision of money at the time it is required isdescribed as ?.
finance

__is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares
Rights Shares

One of the following is not a medium of exchange in business
Investment


92. The internal finance in a business is also known as ____
12. Equity

2)The following are the fields of finance except __
4) Production/Operation

3)The proportion of profits from a firm distributed as dividend is called the_____
c) Dividend payout ratio

4)A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____
c) Internal Finance

7)Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are ____
d) Preference shareholders

8)the field of finance originally covers which of the following
intruments of Finance

10)The common denominator for the full range of activities performed in business is known as __
5) Money


The internal finance in a business is also known as ________
Equity

Without the existence of ___________ No business can survive
Finance

The management of Finance is the pillar upon which all ________ activities stand
Economic

_________ defined Finance as
Oyekanmi (2003)

Another name for the management of money is __________
Finance

One of the following is not a medium of exchange in business
Investment

__________ activities in a business provide goods and services to customers
Operation

In any private or public institution _________ plays an important role
Finance

The common denominator for the full range of activities performed in business is known as __________
Money

The following are all forms of near-money except ________
Preference shares

Buyers of shares are called _______________ and they are the legal-owners of the business whose shares they hold.
Shareholders

____________are for physical or tangible assets such as plant, machinery wheat, office, gold, buildings
Capital market

The common denominator for the full range of activities performed in the financcial sector is ___________
Money

Capital expenditures which are referred to as capital budgeting decision are reffered to as _____________
Investment decisions

_________invest their money in the shares of a company in the expectation of a return on their invested capital.
Shareholders

____________ is called borrowed fund or finance and referred to also as debt.
External Finance

The return on shareholder\'s investment in shares consists of Dividend and ___________
Capital gain

Money is the medium of exchange in business, the other two elements are production(operation) and ___________
Marketing

The proportion of profits from a firm distributed as dividend is called the_____________
Dividend payout ratio

A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____________
Internal Finance


======
BFN209 NOUN PQ
======

2) The short-term liabilities of a firm includes all of the following except______

	--->> Lendings

	      Trade advances

	      Creditors

	      Borrowings

3) The dividend rate for _________ shareholders is not fixed and can vary from year to year depending on the board of directors.

	      Preference

	      Cumulative Preference

	--->> Ordinary

	      Participating Cumulative shares

4) ________is an artificial creature, invisible, intangible, and existing only in contemplation of law. As a legal (artificial) person, it is separate from the owners. It can enter into a contract, sue and be sued in its name.

	--->> limited liability company

	      Agency Relationship

	      partnership

	      Sole proprietorship

5) Cash management is concerned with the managing of the following except________

	      Cash flows into and out of the enterprise

	      Cash flows within the enterprise

	--->> All of the above

	      Cash  balances  held  by  the  enterprise  at  a  point  of  time  by financing deficit or investing surplus cash.

6) _______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

	      Convertible preference shares

	      Participating Cumulative shares

	      Participating Non-Cumulative shares

	--->> Cumulative preference shares

7) The following are the motives for holding cash except_______

	      Transaction motive

	--->> Budgetary motive

	      Precautionary motive

	      Speculative motive

8) The Memorandum of Association of a company must contain the following information except_____-

	      objects for which the company is formed

	      address of the registered office of the effect that the ‘liability’ of the members or shareholders is ‘limited’

	--->> address of the company and the reason why it is in existence

	      name of the company, with the term “Limited” as the last word of the name

9) The following are the main components of working capital management except______

	      Cash Management

	--->> Fixed income

	      Receivables Management

	      Inventory Management

10) The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

	      CBN

	      SEC

	--->> NSE

	      CSCS

11) ___________may be made to attract new and existing shareholders to contribute equity capital

	--->> Public issue

	      External finance

	      Rights issue

	      Preference shares


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Course Code
BFN209


Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur


Try Another Search
BFN209

The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Acquisition of financial resources for the organisation

The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

Investment Analysis

The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

Capital gain

Who defined finance as the system that includes the circulation of money, the granting of credit, the making of investments and the provision of banking facilities?

Webster’s third International Dictionary

The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

Strategy

There are two kinds of markets, Financial market and ______

Real assets market

Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

The Shorter Oxford English Dictionary

The Encyclopedia of Banking and Finance classified finance into three categories except_____

A general term to denote the theory and practice of ralationship management and investment analysis

Financial market trades on financial assets which promises future benefits in all of the following except _______

Promissory notes

Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

Real markets



___relates to financing decisions and practices of individual households, businesses and non-business organisations

Micro Finance
___ defines finance as the art and science of managing money

Gitman (2000)
____ is very important to the firm in the acquisition of long-term funds.

Capital Market
__ relates to the financing decisions and practices of the entire economy



Macro Finance
__ tried to narrow the definition of finance by defining it as the study of the nature and use of the means of payment.

Christy and Roden (1973)
A __ performs the traditional function of managing a firm’s cash position to guarantee liquidity

Financial Manager
Financial market and ___ are the two kinds of markets

Real assets market
The ____ is the market that serves as an intermediary between fund-raisers and suppliers of capital*Nigeria stock exchange*
___ is the management of current or short-term assets and short-term liabilities of a firm

Working Capital
The Financial Manager's roles are all Financial Management, Profit planning and ___

Fund allocation
____shows the present statement of a business and the financial condition of an accounting entity as at a particular point in time.

Balance sheet
Internal Finance which is also known as equity fund/finance is referred to as ___

Equity
Shareholders invest their money in the shares of a company in the expectation of a return on their invested capital. The return consists of dividend and_____

capital gain
____shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders.

Preference
_____is the management of current or short-term assets and short-term liabilities of a firm

Working Capital
The Financial Manager's roles are Financial management, Profit planning and ____

Fund allocation
Finance decisions influence Growth, Size and ____

Productivity
Shareholders invest their money in the shares of a company in the expectation of a return on their invested capital. The return consists of dividend and_____

capital gain
____shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders.

Preference
Shareholders invest their money in the shares of a company in the expectation of a return on their invested capital. The return consists of dividend and_____

capital gain
____consists of all transactions plus other events that are not investing or financing activities.

Operating Activities
Profit planning is the operating decisions in the areas of ___, costing of the volume of output and the firm’s product lines selection.

Pricing
The proportion of profits distributed as dividend is called ____

dividend-pay-out ratio
____are risks that some accident may destroy or spoil some physical goods created by the work financed.

Physical Risks and Finance
Investment decisions involve capital expenditures which are referred to as ____

capital budgeting decision
Shareholders can be of two types ____and Preference

Ordinary
The main components of Working capital management are Cash management, Receivables management and ___

Inventory management
____activities consist of cash flows relating to liability and owners’ equity.

Financing
The____ enables management to explain the changes in cash and cash equivalent production.

cash statement
_____is a tool to avoid excessive and inadequate levels of inventories and maintain sufficient inventory for the smooth operations of the enterprise in terms of production and sales output.

Inventory management
Profit planning is related to considering four main factors: fixed costs, variable costs, selling price and ____

sales volume
The____ is the retained portion of profits

retention ratio
The_____ is determined by its impact on the shareholder’s value.

dividend policy
____ is called borrowed fund/finance and is solely owned/contributed by the stakeholders within

External Finance
A firm/business can sell shares to acquire ____

equity funds
____may be defined as the provision of money at the time it is required.

Finance
_____provides the means in which the enterprise can control its relationship with its external environment and at the same time, it is controlling its internal operations accordingly (control-in-the-small).

Pricing policy
The management of current or short-term assets and short-term liabilities of a firm is called_____

working Capital
_____ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Financial management
There are two kinds of markets, Financial market and ___

Real assets market
____involves graphing the variables to identify the pattern for a given number of years

Model identification
____helps to identify the inputs required

12) Budgeting *
The____ is very important to the firm in the acquisition of long-term funds.

Capital market
_____are entitled to fixed dividend payment as different from equity shareholders which are entitled to variable dividend payments.

Ordinary shareholders
_____ allow for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Cumulative preference shares
____risks arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Technical Risks and Finance
____shows the present statement of a business and the financial condition of an accounting entity as at a particular point in time.

Balance sheet
___ is called borrowed fund and is also referred to as a debt

External Finance
____shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Convertible preference shares
____is the amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning

Profit
____may be defined as the provision of money at the time it is required.

Finance

___ can be likened to a lubricant

Finance

Internal Finance known to as equity fund/finance is referred to as ____.

Equity

A firm/business can sell ___ to acquire equity funds.

Shares

Real markets are for physical or ____ assets.

Tangible

___ shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders.

Preference

Public issue may be made to attract new and the existing shareholders to contribute equity __

Capital

Investment decisions involve capital expenditures which are referred to as capital ___ decision.

Budgeting

___ and profitability affect investment in current assets in business organizations.

Liquidity

Political Risk and Finance are risks of ___ as a result of unforeseen intervention by governments.

Losses

____ mechanism system is a vital organ of a market economy.

Price

Risk is the expected ___ of the income flow.

Variability

Pandey __ stated that the basis of the theory of financial management.

2005

Financial Manager is the person responsible for performing __ functions.

Finance

Profit____ function is one of the acquired roles of the Finance Manager.

Planning

Fixed costs remain constant while ___ costs change in direct proportion to changes in volume of goods.

Variable

Financial statement is also used for future plans of the ___.

Enterprise

Balance sheet shows the present ___ of a business.

Statement

____ is otherwise known as profit and loss account.

Income statement

Financing Activities consist of cash flows relating to __ and owners’ equity.

Liability

Pricing policy provides the means in which the enterprise can control to a __

Degree

Working capital management refers to the management of current or _-term assets and short-term liabilities.

Short

Cash management focuses on managing ___ in and out of an enterprise.

Cash flows

Business need to hold cash to achieve the following transactions, precautionary and ____

Speculative

Short-term sources of funds represent __ liabilities funds owed.

Current

___ could be used to raise short-term funds in a number of ways.

Stocks

Shares which rank above equity shares are the __ shares.

Preference

Planning involves the ____ of objectives and the means of achieving them.

Selection

Estimation of parameters is the determination of the functional relationship or __ expression

Algebraic

Finance evolved as a branch of economics in the later part of the ____ Century.

19th

____helps to identify the output desire

Planning

______ helps to identify the inputs required

Budgeting

____ are normally redeemed after a fixed period of time.

Redeemable preference shares

____ is a class of shareholders entitled to participate in the residual profit of a firm in addition to the cumulative fixed dividend rate

Participating Cumulative Preference Shares

A promissory note is also known as ___

Bill finance

Finance decisions influence all of the following except____

Control

____consists of cash flows relating to liability and owners’ equity.

Financing Activities

The following are steps in forecasting process except___

Factoring

Finance is related to the following disciplines except __

Geography

The following are various types of preference shares except____

Ordinary shares

___is a selection of objectives and the means of achieving them

Planning

The following are three types of leases except___

Investing lease

One of the following is not a function of the finance manager

Pricing

Two major external sources of long-term funds are Financial Institutions and ____

Capital market

The following are sources of short-term funds except____

Trade finance

The class of shares which ranks above equity shares are __

Preference shares

The following are the motives for holding cash except___

Budgetary motive

___is the meeting point for investors(lenders) and firm's borrowers

Capital market

____is a statement that records the financial activities of a particular business organisation

Financial statement
The following are the fields of finance except __

Production/Operation
Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur
Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur
Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur



Question
The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

Answer
Acquisition of financial resources for the organisation



Question
________ is a dynamic and evolving art of making daily financial decisions and control in households, businesses, non-business organisations and government.

Answer
Financial Management



Question
Shareholders can be of two types Ordinary and _______

Answer
Preference shares



Question
The functions of _______include sourcing and application of funds, and demands that money is used in the firm wisely

Answer
Finance



Question
The following are areas of operating decisions in profit planning except____

Answer
marketing



Question
_______is a selection of objectives and the means of achieving them

Answer
Planning



Question
The class of shares which ranks above equity shares are ______

Answer
Preference shares



Question
The following are three types of leases except_____

Answer
Investing lease



Question
Two major external sources of long-term funds are Financial Institutions and ________

Answer
Capital market



Question
______shares convey upon the holder the right to convert shares into equity shares in accordance with the terms of issues

Answer
Convertible preference shares



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
_______allows for dividend payment to be deferred if a firm does not make adequate profit to pay such dividend.

Answer
Cumulative preference shares



Question
The following are the motives for holding cash except_______

Answer
Budgetary motive



Question
Cash management is concerned with the management of the following except________

Answer
None of the above



Question
The following are some of the various types of preference shares except_____

Answer
Non convertible preference shares



Question
The ________is the market that serves as an intermediary between fund-raisers and suppliers of capital

Answer
NSE



Question
The short-term liabilities of a firm includes all of the following except______

Answer
Lendings



Question
The following are the main components of working capital management except______

Answer
Fixed income



Question
One of the following is not contained in the memorandum of association of a company

Answer
address of the company and the reason why it is in existence



Question
The finance function to staff and departments will be dependent upon the size and _______of the business organisation.

Answer
magnitude



Question
A person responsible for performing finance functions In a modern firm is known as ___________

Answer
Financial Manager



Question
______is when a company distributes all its earnings to shareholders and acquires new capital from same source by issuing new shares

Answer
Rights issue



Question
Shareholders that receive dividend at a fixed rate and enjoy priority over ordinary shareholders are known as ________

Answer
Preference shareholders



Question
The following are the elements that must be held in balance to enable optimum utilization of resources of the enterprise except _______

Answer
Investment



Question
__________ is the provision of money at the time it is required

Answer
Finance



Question
A market that promises future benefits in the form of cash payments is known as _________

Answer
Retail market



Question
_______ is called borrowed fund and is also referred to as a debt

Answer
External Finance



Question
The amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning is known as ________

Answer
Profit



Question
_______ are risks that arise from the fact that the producer’s skill or that of the subordinates may not be up to the expected level for the plan, hence it may fall short of achieving the intention.

Answer
Technical risks



Question
The following are three ways of avoiding or reducing risk except____

Answer
Investing in a risky investment



Question
The simplest form of finance is where the whole of finance required by a particular enterprise is provided by _______

Answer
Entrepreneur

Cash management, Receivables management and Inventory management are main components of which of the following?
.
cash flow

What is a Financial Statement?

.
It is a statement that records financial activities of a particular business organisation.

What returns does a shareholder expect from his/her investment?
.
Dividend and capital gains

The limitations of profit maximization include ,,,,,,,,

.
vague

What does the abbreviation IPO represent?

.
Initial Public Offering

What can a firm/business acquire when it sells shares?

.
Equity funds

Which of the following is not a main component of the financial statements?
.
statement of profit

What\'s the difference between shareholders and stockholders?
.
In practice, there\'s no difference between the two

What designation do you consider least appropriate for the head of the finance function?
.
Managing Director, Finance.

Identify the one that\'s not an elementary fact about Receivables

.
It implies the purchaser must pay at the point os sale of good/serbvice

The ____________ of a firm is said to be at optimum when the market value of shares are maximized.
.
Capital structure

Which fubction do you consider inappropriate for the Treasurer?
.
Supervision of Production staff

The following are steps in the process of forecasting except_____
.
Factoring

The shareholders return on the shares of a company consists of Dividend and __________
.
Capital gain

======
BFN209 NOUN EXAM




13) The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

14) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

15) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

16) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

17) The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

18) Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

19) Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

20) The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.

21) There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

22) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary




6) Who defined finance as the  system that  includes  the  circulation of  money, the  granting of credit,  the  making  of  investments  and  the  provision  of  banking facilities?

	--->> Webster’s third International Dictionary

	      The Encyclopedia of Banking and Finance

	      The Shorter Oxford English Dictionary

	      Cambridge's dictionary

7) The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except _____

	--->> Acquisition of financial resources for the organisation

	      Diversification

	      Expansion

	      Promotion

8) There are two kinds of markets, Financial market and _______

	      Currency market

	      Financial markets

	      Stock market

	--->> Real assets market

9) Financial market trades on financial assets which promises future benefits in all of the following except _______

	      Treasury bills

	      Certificate of deposit

	--->> Promissory notes

	      Bonds

10) Who defined finance as to lend, to settle debt, pay ransom, furnish, and procure.

	      Cambridge's dictionary

	--->> The Shorter Oxford English Dictionary

	      The Encyclopedia of Banking and Finance

	      Webster’s third International Dictionary

11) The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and_____

	      Fixed income

	--->> Capital gain

	      Cash flow

	      Diversification

12) The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

	      Anticipation of financial needs of the organisation

	      Acquisition of financial resources for the organisation

	--->> Investment Analysis

	      Allocation of financial resources within the organisation

13) Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called_________

	      Financial markets

	      Stock market

	--->> Real markets

	      Currency market

14) The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except_____

	      Marketing

	--->> Strategy

	      Production

	      Operation

15) The Encyclopedia of Banking and Finance classified finance into three categories except_____

	      A general term to denote the theory and practice of monetary credit, banking and promotion of operations in the most comprehensive sense.

	      To raise money necessary to organise, re-organise or expand an enterprise whether by sales of stocks, bonds, notes, etc.

	--->> A general term to denote the theory and practice of ralationship management and investment analysis

	      Originally applied to raising money by taxes or bonds issues and the administration of revenues and expenditure by government.




Which of the following is not one of the three types of leases
Question 1Select one:

a.
Investment lease

In any private or public institution _________ plays an important role

Finance


What does the abbreviation SEO represent?

Seasoned Equity Offering

Whichessentially is not the duty of the Finance Manager?

Procurement of raw materials for manufacturing


Which of the followingis not a motice for holding cash?
Question 5Select one:

a.
pecuniary


The cost that changes in direct proportion to changes in volume of goods is called?

variable cost

The financing decisions and practices of the entire economy are related to ___________

Macro Finance

What item is not supposed to be found on a standard Balance Sheet?

Food and Beverages

The mix of equity and debt id called?

capital structure

Why do people buy shares?

For investment purposes - to make returns or money.

A selection of objectives and the means of achieving them is known as _________
Question 1Select one:


Planning

What do you call dividend payments which are deferred if a firm does not make adequate profit to pay such dividends?

Cumulative preference shares


The common denominator for the full range of activities performed in business is known as __________
Question 3Select one:

a.
Money




The Encyclopedia of Banking and Finance classified finance into three categories except_____
Question 4Select one:

a.
A general term to denote the theory and practice of ralationship management and investment an



Capital structure is also know as what?

gearing


the field offinance originally covers which of the following?

Fiancial payment


Which of the following is not a main component of the financial statements?
Question 7Select one:

a.
statement of profit


_________ defined Finance as ""money affairs or money matters "
Question 8Select one:

a.
Oyekanmi (2003)


What two markets are you farmiliar with in Finance?
Question 9Select one:

a.
Financial and real assets


The expected variability of the income flow is known as ...........

risk

A type of finance which is solely owned and contributed by the stakeholders (within)and is also known as equity finance is called ____________
Question 8Select one:

a.
Internal Finance


Who defined finance as the Art and Science of managing money?

Gitman (2000)


The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except______

Investment Analysis


BFN209 TMA2 10 Which of the following bodies is the regulator and monitor of activities in the Nigerian Capital Market?
SEC Capital structure is also know as what?
Gearing 

Fund raising is usually done to cover the following EXCEPT?
Dividend payout Balance sheet isnow called?
Statement of financial position The limitations of profit maximization include the following EXCEPT?
Ignores return The cost that changes in direct proportion to changes in volume of goods is called?
Variable cost Weath and profit maximizations are goals of ?
Finance 


Which of the following is an example of fixed asset?
Building 


Which of the following is not a key role of the Finance manager?
Setting the vision and mission Which of the following is not a main component of the financial statements?
Statement of pofit


Bfn209
 Public Issue may be made to attract new and the existing shareholders to contribute equity (Capital)
Political Risk and Finance are risks of _______ as the result of unforeseen intervention by governments.
Political Risk and Finance are risks of _______ as the result of unforeseen intervention by governments. (Loses)
 Internal Finance known to as equity fund/finance is referred to as ________. (Equity)
 Investment decisions involve capital expenditures which are referred to as capital _________ decision. (Budgeting)
eal markets are for physical or ________ assets. (Tangible)
may be defined as the provision of money at the time it is required.(Finance)
 A firm/business can sell _______ to acquire equity funds. (Shares)
shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders (Preference)
can be likened to a lubricant (Finance)
and profitability affect investment in current assets in business organizations. (Liquidity)
________________________________________


Bfn209
 Balance sheet shows the present _______ of a business. (Statement)
 Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
 Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
 ________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)


1. Physical or tangible assets such as plant, machinery wheat, office, gold, and buildings are called Real Markets (Ans)
2. Who defined finance as the system that includes the circulation of money, the granting of credit, the making of investments and the provision of banking facilities : Answer Webster third international dictionary.

3. There are two kinds of markets, Financial market and (ans) Real assets markets
4. The following are ways of raising funds in the scope of Financial Management during major events in the life of the firm except (ans) acquisition of financial resources for the organization.
5. Who define finance as to lend, to settle debt, pay ransom, furnish, and procure. Ans: The shorter Oxford English Dictionary
6. The Encyclopedia of Banking and Finance classified finance into three categories (ans)A general term to denote the theory and practice of ralationship management and investment analysis
7. Financial market trades on financial assets which promises future benefits in all of the following except __Ans: promissory notes.
8. The following are three key financial decisions of Financial Management according to Christy and Roden, (1973), except____investment analysis
9. The three elements that must be held in balance to enable optimum utilization of the resources of the enterprise are all of the following except Ans(strategy)
10. The money shareholders invest in a company in the expectation of a return on their invested capital consists of dividend and (ans) capital gain.




Bfn209
 Balance sheet shows the present _______ of a business. (Statement)
 Profit______ function is one of the acquired roles of the Finance Manager. (planning)
Financial statement is also used for future plans of the _______.(Enterprise)
Risk is the expected _______ of the income flow(variability)
 Pandey ______ stated that the basis of the theory of financial management.(2005)
Financial Manager is the person responsible for performing ______ functions.(Finance)
Fixed costs remain constant while _____ costs change in direct proportion to changes in volume of goods. (Variable)
 ________ is otherwise known as profit and loss account. (Income statement)
________ mechanism system is a vital organ of a market economy. (Price)
Financing Activities consist of cash flows relating to ____ and owners' equity. (Liability)
BUS205
 ___________ is a means by which power is acquired, exercised and sustained. (Communication)
Non __________ income is used to buy items to meet basic needs. (Discretionary)
_________motivation also causes you to be loyal to certain shops and companies. (Patronage)
 __________ is a book in which particulars of all monies received or paid are recorded. (Cash Account)
___________ is the value that products and sellers place on goods or services. (Price)
 Social __________ is owed by individuals and not by organizations. (Obligation)
 _______ researchers also gather information from a wider group of people. (Market)
The _______ is the total amount supplied by owner of the business or owners equity or net worth. (Capital)
 __________ must be attractive. (Packaging)
 ________include the resources possessed by the firm. (Assets)
BUS207
 Verbal communication is one way for people to communicate ______________. (Face to face)
 
The actual origin of ___________ is subject to considerable speculation(Language)
 If a language is about communicating with signals, voice, sounds, gestures, or written symbols, can animal communications be considered as a ___________? (Language)
The basis of _________________ is the interaction between people. (Communication)
 Animals do not have a __________ form of a language, but use a language to communicate with each another. (Written)
 Some words may be imitative of natural __________, but others may come from expressions of emotion, such as laughter or crying. (Sounds)
Some of the key components of verbal communication are sound, writing, speaking, and ______________. (Language)
 A dialogue is a reciprocal conversation between _______ or more entities, (TWO)
As meaning is assigned to words, language develops, which leads to the ___________ of speaking. (Development)
At birth, most people have vocal cords, which produce __________. (Sounds)


Fund raising is usually done to cover the following EXCEPT?

dividend pay out


__________is made by a company to attract new and the existing shareholders to contribute equity capital.

d.
Public Issue


We may associate in the study of pricing with the problem of control in the large and .............

control in the small


Articles of Association of a company contains the following

Name of the company


Which of the following is not related to Finance?
Question 3Select one:

a.
Law



Two major external sources of long-term funds are Financial Institutions and ________

Capital market



The following are all external finance EXCEPT?

equity





S

December 17, 2025 4:38 PM

1.0	INTRODUCTION

In this unit, you would identify the key role of finance as it is embedded in the functions of the Finance Manager. The central role of the finance manager will be explained to emphasis its utility as a pivot of management functions.

2.0	OBJECTIVES

At the end of this unit, you should be able to:

identify the key roles of finance in an enterprise

state the duties of a Finance Manager

Explain the interdependent relationship of finance with other sections of a business organisation.

3.0	MAIN CONTENT

3.1	Central Role of Finance Manager

As could be deduced from Unit 1 of this Module, the finance manager’s duties include:

Budgeting

Raising funds

Selecting and evaluating projects

Planning the marketing and pricing strategies.

The finance manager is always supposed to be a specialist/professional, with knowledge of many areas of finance. The breadth of finance


28
 
BFN209	MODULE 1


function is vast that in many business organisations, it includes human resources from several departments of management.

3.2	Crucial Role Played by Finance Staff

As has been spelt out in Unit 1 of this Module, Finance is concerned with the flow of fund, which is the life blood of the business. The crucial role played by finance staff is recognised as vital and they are rewarded accordingly.

Clearly, skill is an extremely valued asset in managing an enterprise. It entails the techniques through which an organisation obtains finance for the business and the usage of the finance to assure the business as a going concern and successful. The use of the finance to establish the enterprise successfully, maintain, sustain and enable it grow into a colossus requires financial dexterity which the finance manager and the staff are at the centre.

SELF ASSESSMENT EXERCISE 1

State the key roles of a finance manager.

3.3	Corporate Organisation

The finance function to staff and departments will be dependent upon the size and magnitude of the business organisation. The larger the organisation, the greater is the degree/level of specialization of tasks and duties required.

The smaller business consolidates many duties in fewer sections and units. Generally however, the head of finance – Director of Finance, Chief Finance Officer, as it may apply, is the treasurer or any other designation like the controller of finance or general manager finance etc.

As expressed in the highlighted functions of an enterprise, the treasurer supervises or participates in the functions of finance. The treasurer oversees or manages the enterprise’s liquid assets, liabilities, payroll and cashier activities, credits and collections, forecasting, capital budgeting and investment and financing. (All these will be discussed later in other units and other financial management courses in the programme as appropriate).

The Treasurer is an active participant in long -range financial planning. Practically, the task of finance is specifically assigned to finance staff, but non-finance staff frequently partakes in the decision-making process.
 




29
 
BFN209	INTRODUCTION TO FINANCE


For example:

i)	Cost recording and control are accounting and finance function, whereas the determination of standard costs and the responsibility for correcting any variation(s) from realizable standards is with operations department.

ii)	In the same state, sales department in collaboration with marketing consultant (hired by the enterprise) estimate the level of sales for various pricing/costing policies. This data is then utilized in financial planning to estimate profit levels for each price structure.


The framework and responsibility for pricing/costing policy are jointly determined by the marketing/sales department and financial planning staff.

Planning funds for operations and capital budgeting is also a joint decision-making process conducted by the production, sales and finance personnel.

iii)	The need for a new machine might be determined by the production department which makes its request to the head of division/department etc, (who is a part of financial management team).

If the expenditure is not greater than the estimated value example N20,000 the decision as to whether to acquire the machine would be made at this point. If the outlay is above that amount, the requisition would be submitted for approval to business organisation with head of finance recommendation and supporting information as onus of proof.

This will then follow the laid-down policy of the enterprise – to approve or disapprove the proposal; based upon data relating to projected production/sales and the available funds to finance the investment.

SELF ASSESSMENT EXERCISE 2

Give one example of how finance inter-depends on other sections/units for implementation of a business.

3.4	Finance Functions in an Enterprise

The functions of finance manager are condensed into the following:

1)	Financing and investment;



30
 
BFN209	MODULE 1


2)	Accounting and control;

3)	Forecasting and long-run planning;

4)	Pricing, and
5)	Others.

They are discussed below.

1.	Financing and Investments: Supervising the firm’s cash and other liquid holdings, raising additional funds when required and investing funds in projects for adequate returns to keep the enterprise going as a concern.

2.	Accounting and Control: Maintaining financial records, controlling financial activities; identifying deviations from planned and efficient performance and managing payroll, tax matters, inventories, fixed assets and computer operations.

3.	Forecasting and Long-Run Planning: Forecasting costs, technological changes, capital market conditions, funds needed for investment purposes, returns on proposed investment projects and demand for the organisation’s product etc.

4.	Pricing: Determining the impact of pricing/costing policies on profitability.

5.	Other Functions: Credit and collection, insurance and incentive planning (pension, etc.)

4.0	CONCLUSION

In this unit, we have attempted to establish the financial manager as a key person in the business organisation, frequently rising to the top in an enterprise as his role is central, dynamic and important.

5.0	SUMMARY

In summary, this unit is made up of the central role of the finance manager in a business organisation, the crucial role of finance staff, and the interdependence of finance unit/department with others in a corporate organisation and the highlights of finance function in an enterprise.


6.0	TUTOR-MARKED ASSIGNMENT

1.	What are the central roles of finance manager in a business organisation?

2.	Discuss briefly the duties of a treasurer in an enterprise.
 



31
 
BFN209	INTRODUCTION TO FINANCE



7.0	REFERENCES/FURTHER READING

Jones, G. L. (1976). Financial Measurement for Managers London Edward Arnold (Publishers) Ltd

Pandey, I. M. (2005) Financial Management (9th edition) India, New Delhi: VIKAS Publishing House PVT Ltd

Schall, L. G. & Haley, C.W. (2002) Introduction to Financial Management. New Delhi: TATA McGraw-Hill Publishing Co Ltd.


Oyekanmi, Abiodun (2003). Basic Concepts and Applications in Business Finance Lagos Nookia Ventures Ltd















































32
 
BFN209	MODULE 1


MODULE 2

Unit 1	Finance Goals and Objectives in a Firm

Unit 2	The Role of Financial Managers

Unit 3	Introduction to Financial Analysis

Unit 4	Profit Planning and Pricing

Unit 5	Introduction to Working Capital Management








UNIT 1	FINANCE GOALS AND OBJECTIVES OF A FIRM

CONTENTS

1.0	Introduction

2.0	Objectives

3.0	Main Content

3.1	Profit Maximization

3.2	Wealth Maximization

3.3	Financial Goal, Firms Mission and Objectives

4.0	Conclusion

5.0	Summary

6.0	Tutor-Marked Assignment

7.0	References/Further Reading

1.0	INTRODUCTION


In this unit, we will be shown the financial goal of a firm which is shareholders’ wealth maximization as reflected in the market value of business equity - owners’ contributions/shares.

2.0	OBJECTIVES

At the end of this unit, you should be able to:

identify financial goal of a business firm

discuss profit maximization

Explain wealth maximization.
 






33
 
BFN209	INTRODUCTION TO FINANCE


3.0	MAIN CONTENT

3.1	Profit Maximization

In the market economy of a country, prices of goods and services are determined by the forces of demand and supply. Firms produce goods and services desired by the community in which they serve as efficiently as possible.

It is worthy of note that a business organisation’s financing and investment decisions remain continuous in response to the business activities and circumstances around them.

Price mechanism (system) is a vital organ of a market economy, showing the goods and services required in the community. When the goods and services are in high demand, their prices will rise. This will

give rise to higher profit margin. Other Firm with similar or complementary goods and services will intensify competition in order to have a share of the market. The equilibrium price will eventually be reached where demand and supply match.

Business firms are frequently profit oriented with maximization of profit as the proper objective.

What is Profit?

It may be expressed as the amount a business can spend in a period and be as “well off” at the end of the period than as at the beginning. In this statement, there are limitations and complications like:

What determines the “well off” of a business (the size and magnitude of activities)?

Is it maximising total profit or rate of profit? Other problems are risk associated with a project

Profit maximization neglects differences in the degree of risk associated with different income streams.

Risk is the expected variability of the income flow.

This is why Pandey (2005) summarised profit maximization limitations as follows:

It is vague

It ignores the timing of returns

It ignores risk.



34
 
BFN209	MODULE 1


Profit maximization objective is not always clear. It may not specify period – short, medium or long term profit – profit before or after tax; total or relative profit; total operating profit or accruing profit.

SELF ASSESSMENT EXERCISE 1

What is profit maximization limitation?

3.2	Wealth Maximization

This is one of the financial goals of a business enterprise. Yes! You should recall in our previous study that Firm’s management controls the firm, but the shareholders/entrepreneur are the owners of the business Firm. It is then incumbent on the owners to specify the business concern’s primary objective to maximize the utility of the entrepreneurs/owners.


Apart from profit making and maximization, the investors (the contributors to the capital base) wealth should be maximized through the manner of profit sharing.

The finance manager should use it as a basis for making decisions concerning:

Survival

Growth of the business and the owners’ delight too.

The financial thrust should correspond with business owners / entrepreneurs primary goal. It is pertinent, at this point, to note that the best primary financial goal to meet the above stated criteria is to maximise the business organisation’s value to the existing owners/entrepreneurs.


Market value assessment of the appropriate prices of a business is considered thus:

Current and expected income

Uncertainty and timing of income streams

Dividend policy

Other factors the market considers relevant

The market price hereby reflects the markets’ view of management’s activity record of business investment, financing and dividend decisions. Invariably, the market’s view is largely based upon information provided by management in the business’s annual and other reports.
 



35
 
BFN209	INTRODUCTION TO FINANCE


A brief consideration of whether the goal of maximizing the business’s value to existing shareholders meets the three criteria earlier specified.

1.	Consider if the objective is operational: Finance Officer can evaluate alternative courses of action and choose which will increase the business value to the owners by the largest amount.

2.	This objective overcomes the problems inherent in the profit maximization objective in that the market price of a business’s contribution/shares is an unambiguous concept and its determination takes account of the time value of money and risk.

3.	Finally, it is reasonable to assume that the objective is reasonable and consistent with owners/entrepreneurs’ interests.

To sum it up then, we should note that the goal of the firm and that of managers and employees are to maximize the wealth of the owners for who the business is being managed, which in turn, is measured by the value of contribution by owner(s). Therefore, when the finance manager is considering each financial decision, alternative or realistic action, in the light of impact on the firm’s contribution, value/ price, he should accept only those actions that are expected to increase contributor’s price.


SELF ASSESSMENT EXERCISE 2

In your own words, highlight the limitations of profit maximization.

3.3	Financial Goal and firm’s Mission/Objectives

Pandey (2005) stated that the basis of the theory of financial management is the same as that of maximisation of owners’ welfare (classical theory of the firm). Every corporate business Firm states categorically their vision, mission and values in broad terms and is also concerned about technology, leadership, productivity, market standing, image, profitability, financial resources, employee satisfaction etc.

Objectives and decision criteria should be distinct.

Goals or objectives are missions or basic purposes of a business’s existence. They direct the firm’s actions.

The strategies are designed on these basic objectives.

Defines its markets, products and technology.

Policies are laid down in areas of production, purchase, marketing, technology, finance etc.

SELF ASSESSMENT EXERCISE 3


36
 
BFN209	MODULE 1



Picture yourself as an entrepreneur.

On this basis, develop a typical mission and objectives of your business.

4.0	CONCLUSION

We have attempted a simplified approach to understanding financial goal of a business firm which we have seen as not being simply profit maximization but considering the well being of the investors too. The two have to be balance by the finance officer in-charge to impact positively on the society.

5.0	SUMMARY

This unit is summarized thus:

The identification of financial goals of a firm seen through profit maximization and wealth maximization.

The blend of the two effectively and efficiently by the financial manager gives the society a good turnaround of the business performance.

Each firm produces a mission and objectives to synchronize with the financial goals to produce goal befitting the entrepreneurs own.


6.0	TUTOR-MARKED ASSIGNMENT

1.	Identify main financial goal of a business concern.

2.	Explain financial goal based on firm mission and objectives fulfilment.

7.0	REFERENCES/FURTHER READING

Pandey, I.M. (2005). Financial Management New Delhi: India: VIKAS Publishing House PVT Ltd. (9th ed).

University of Southern Queens Land, Business Finance I Study Book.
 













37
 
BFN209	INTRODUCTION TO FINANCE








UNIT 2	THE ROLE FINANCIAL MANAGERS

CONTENTS

1.0	Introduction

2.0	Objectives

3.0	Main Content

3.1	Financial Manager

3.2	Fund Raising

3.3	Funds Allocation

3.4	Profit Planning

3.5	Capital Markets

4.0	Conclusion
5.0	Summary

6.0	Tutor-Marked Assignment

7.0	References/Further Reading

1.0	INTRODUCTION

In this unit, you will be able to know who a Finance Manager is and identify his role in the financial management ‘mix’ of a firm.

Among other things, he coordinates the flow in the working cycle and makes the correct ‘dose’ of investment to be at the proper place in order to avoid “too much or too little of fund”.

2.0	OBJECTIVES

At the end of this unit, you should be able to:

explain who a Financial Manager is

identify the role of Financial Manager

plan profit of a Business firm

Describe Capital Market.

3.0	MAIN CONTENT

3.1	Financial Manager

This is the person responsible for performing finance functions. In a modern firm, finance manager’s position is significant. He is recognised


38
 
BFN209	MODULE 1


as a member of the top management team. He maintains records, prepares progressive financial report through auditing, financial/managerial accounting and assists in raising funds when required.


As an adviser, the finance manager now shapes the fortunes of the firm and he is involved in the most vital decision of allocation of capital.

Finance Manager must be broad in knowledge and far-sighted in outlook, to ensure that the funds of the business outfit are utilized in an efficient and effective way.

Finance decisions influence the size, profitability, growth, risk and survival of the firm; and these in turn, affect the overall value of the firm. Hence, a finance manager must have clear understanding and professional grasp of the nature and scope of the finance functions.

SELF ASSESSMENT EXERCISE 1

Describe a financial manager

3.2	Funds Raising

The scope of financial management includes fund raising in the modern approach to financing. This was not the case in the past because raising funds was always done during major events in the life of the firm like:

Promotion

Re-organization

Expansion

Diversification.

As a cardinal duty, the finance manager sees that a firm is well funded to be able to meet its obligation. This had already been discussed previous unit of this course.

3.3	Funds Allocation

The modern approach to finance is an analytical way of looking at the financial problems of the business. Financial management is therefore considered as a vital and an integral part of overall management.

In a modern firm, the basic function of finance department is to decide about the expenditure decisions and to determine the demand for capital to meet these expenditures. That means, the finance manager is duty bound to allocate funds in an efficient and effective manner.
 


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The finance manager should be able to find answers to the following questions:

How large should the firm be?

How fast should it grow?

What form of assets should it hold?

How should the funds be raised?

3.4	Profit Planning

Profit-planning function is one of the acquired roles of the Finance Manager. Profit planning is the operating decisions in the areas of pricing, costing of the volume of output and the firm’s product lines selection.


It is, therefore, a pre-requisite for optimising investment and financing decisions. The cost structure of the business organization (the mix of fixed and variable costs) has a significant influence on a firm’s profitability.


Fixed costs remain constant while variable costs change in direct proportion to changes in volume of goods. The fixed costs enhance profit fluctuation at a higher degree than the fluctuations in sales. The change in profits due to the change in sales is an operating leverage.

Profit planning is an aid to anticipating the relationships between volume, costs and profits. It is from here that an action plan emanates.

SELF ASSESSMENT EXERCISE 2

Discuss the different roles of a finance manager.

3.5	Capital Markets

Capital market is the meeting point for investors (lenders) and firms (borrowers), hence, the understanding of the operations of the capital markets and the way in which the capital markets value securities.

In Nigeria, it is known as the Nigeria Stock Exchange (NSE). The Exchange is the market that serves as an intermediary between fund-raisers and supplier of capital. The Nigerian Securities and Exchange Commission (SEC) is the regulator and monitor of activities in the Nigerian Capital Market in order to protect both the largely unaware investing public and issuers of securities.

September 30, 2025 8:00 PM

COURSE DESCRIPTION AS IN THE OPP

The	modules	and	units	are	self	explanatory	as	they	summarize

INTRODUCTION TO FINANCE - 100 level students of Bachelors’ degree of Banking and Finance. You will need to work in groups with other students in this course and program in order to discuss, compare notes and thoughts and to exchange and share ideas.

6.0 ASSESSMENTS

There are two aspects to the assessment of the course: first are the tutor-marked assignments (TMA); and the end of course examination. Within each unit are self assessment exercises which are aimed at helping you check your assimilation as you proceed. Try to attempt each of the exercises before finding out the expected answer from lecture.

8.0	TUTOR-MARKED ASSIGNMENT (TMA)

This is your continuous assessment and accounts for 30% of your total score. You are expected to answer at least four TMA’s, three of which must be answered and submitted before you sit for the end of course examination. Your Facilitator will give you the TMA’s and you must submit to your Centre your responses.





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BFN209	MODULE 1


9.0	FINAL EXAMINATION AND GRADING

With this examination written successfully, you have completed your course in Basic Research and one believes you would apply your knowledge (new or up-graded) in your project. The ‘end of course examinations’ would earn you 70% which would be added to your TMA score (30%). The time for this examination would be communicated to you.

Table 1:	Course Marking Scheme	
	ASSESSMENT		MARKS
Assignment (TMAs) 1 – 4		Four (4) assignments, best
			three (3) marks of the four
			account at 10% each = = 10 x
			3=30%
End of course examination		70% of overall course marks
Total			100% of course marks

10.0	HOW TO GET THE MOST FROM THIS COURSE

In distance learning, the study units are specially developed and designed to replace the conventional lectures. Hence, you can work through these materials at your own pace, and at a time and place that suits you best.

Visualize it as reading the lecture.

Each of the study units follows a common format. The first item is an introduction to the subject matter of the unit, and how a particular unit is integrated with the other units and the course as a whole. Next is a set of learning objectives. These objectives let you know what you should be able to do by the time you have completed the unit. You should use these objectives to guide your study. When you have finished the unit, you must go back and check whether you have achieved the objectives. If you make a habit of doing this, you will significantly improve your chances of passing the course.

The main body of the unit guides you through the required reading from other sources.

This will usually be either from your set books or from a Reading Section. Activities are interspersed throughout the units, and answers are given at the end of the units.

Practice these self-assessment exercises to help you to achieve the objectives of the units and prepare you for the assignments and the examinations. Keep tap with your facilitator for assistance.


In summary,
(1)	Try to read this course guide.

(2)	Organize a study schedule.

(3)	Do everything you can to stick to the schedule.
 



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BFN209	INTRODUCTION TO FINANCE


(4)	Assemble the study materials.

(5)	Work through the unit. The content of the unit itself has been arranged to provide a sequence for you to follow. As you work through this unit, you will be instructed to read sections from your set books or other articles.

(6)	Review the objectives for each study unit confirms that you have achieved them. If you feel unsure about any of the objectives, review the study material or consult.

(7)	When you are sure of having achieved a unit’s objectives, you can then start on the next unit.

(8)	After completing the last unit, review the course and prepare yourself for the final examination. Check that you have achieved the unit objectives and the course objectives.

To gain the maximum benefit from course tutorials, prepare a question list before attempting them.

11.0	SUMMARY

This course BFN209 is designed to introduce you to Finance to give you some knowledge which would help you to understand the role of finance in business enterprise Endeavour to go through this course successfully and you would be in a good position to pass your examination at the end of the semester

We wish you success in this interesting course. GOOD LUCK.






























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BFN209	MODULE 1





MODULE 1

Unit 1	Nature of Finance

Unit 2	Scope of Finance

Unit 3	Function of Finance

Unit 4	Risk of Finance

Unit 5	Key Role of Finance


UNIT 1	NATURE AND SCOPE OF FINANCE

CONTENTS

1.0	Introduction
2.0	Objectives

3.0	Main Content

3.1	Nature of Finance

3.1.1 Finance Defined

3.2	Evolution of Finance

3.3	Field of Finance

3.4	Role of Finance

3.5	Common Denominator of Finance

3.6	Interrelationship and Transaction

3.7	Funds Flow

4.0	Conclusion

5.0	Summary

6.0	Tutor-Marked Assignment

7.0	References/Further Reading

1.0	INTRODUCTION

Finance plays a very important role in any business activities, whether public or private sector. Its management is the pillar upon which all economic activities stand. No business can survive or be sustained without finance.

In this first unit of this course, we will you will be introduce the nature of finance in a buy & sell enterprise, define finance; explain the role and field of finance.

2.0	OBJECTIVES

At the end of this unit, you should be able to:

discuss the nature of finance

define finance
 


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BFN209	INTRODUCTION TO FINANCE


Identify the role finance.

3.0	MAIN CONTENT

3.1	Nature of Finance

Finance may be defined as the provision of money at the time it is required. Every person responsible for finance, whether it is for a corporate organization or private household, money is confronted with prospects of inflow receipts on the one hand, and outflow payments on the other. The inflows are expected to be arranged in such a way that fund (money) is always available to make necessary payments as they arise.


3.1.1 Finance Defined

Oyekanmi (2003) defined finance “as money affairs or money matters”. All forms of money or near money e.g. debt, cash equity certificates would be implied. In certain usage, however, not only are liquid funds subsumed in the term finance, but all forms of assets, which are capable of being expressed in monetary terms.

On the other hand, Anao (1993) defined finance as money affairs or money matters. All forms of money or near-money such as debt, cash equity, certificates of deposits would be implied. In certain usage, however, not only are liquid funds subsumed in the term finance, but all forms of assets, which are capable of being expressed in money terms.

According to Hornby (2001), finance is the money need or needed to support an activity, project, programme etc. and or the management of money.

3.2	Brief Evolution of Finance

Finance evolved from economics as its branch in the early part of the 20th century; but later became a separate discipline. It graduated in response to the complexity of business from sole proprietorship to corporate organisation. Finance was initially concerned mainly with the keeping of records of receipts and payments; dealings simply on bonds, debentures, banks.

Nowadays, it has extended the ‘coast’ to various aspect or aspects of company survival, introduction of new technologies in operation, the application of computers and its closeness to economy.

SELF ASSESSMENT EXERCISE 1


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BFN209	MODULE 1


Define of Finance.

3.3	Field of Finance

The field of finance originally covered mainly:

Instruments of finance (e.g. bonds, debentures etc.)

Institutions / intermediaries (e.g. banks, finance coys etc.)

Capital markets (e.g. exchange etc.)

The finance is related to economics as every individual, organizations and government operate within the economy. So understanding economic setting is paramount to you.

You need the knowledge and alertness of each level of economic activity and the related consequences. It is associated with accounting as both are interested in cash flows and accounting and financial data necessary for taking basic decisions.

3.4	Role of Finance

Without money (finance), an enterprise cannot function; hence, understanding the role of finance and its ability to measure the progress of a business is essential for effective management.

Finance can be likened to a lubricant. Too little of it (finance) can make a business grind to a halt; while too much of it may lead the business having to grapple with all types of projects not minding their usefulness.


3.5	Common Denominator of Finance

Money is the common denominator for the full range of activities performed in the business.

Yes, there are other factors which are common to business like man-hours, which are all the same length but don’t have the same value in term of quantity of work done or skill and expertise displayed.

Money also presents its problems, particularly when inflation sets in, resulting in changes in the purchasing power of a unit of currency.

This notwithstanding, for the moment, this fact has not affected its role as a common denominator, so long as it remains the medium in which business is conducted.
 






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3.6	Inter-relationship and Transaction

Money is the medium of exchange in business; the other two elements are production/operation and marketing. All these three must be held in balance to enable optimum utilization of the resources of the enterprise.

The interrelationship between the various elements is graphical represented below:

Figure 1:	Business Cycle


	INVESTMENT
Provides return to	Provides
	MONEY/CASH
Pay	Pays for
CUSTOMER	Fixed Assets
	materials running
	
	costs
Sold to	Produce




GOODS/SERVICES

SOURCE: Jones, G.L. (1976) Financial Measurement for Managers


According to Jones (1976), the initial investment of cash (money) in figure 1 above, is shown to provide the means whereby the entrepreneur or promoter of the business enterprise can purchase those assets which enable the business to have premises, equipment, transport and other items required before the activities of the organization can take-off.





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BFN209	MODULE 1


The investment must also be sufficient to allow management to pay the running expenses of the business, such as wages, rent etc. and purchase the first quantities of goods or other basic commodities which are required before any income can be earned.


It is essential to realize that in most cases, money is paid out for these items before the receipt of cash can be expected.

Having acquired the assets and the materials needed to commence business, and paid the running costs for the first period of activity, goods and services become available to the potential customers, who in turn, purchase them and thus provide the cash to pay for further commodities and running costs.

Because the cash received from sales should be greater than the cash paid out for materials and running expenses, a reservoir of cash is built up from which funds can be drawn to pay the providers of the initial capital a return on their money in the form of interest or dividends.

SELF ASSESSMENT EXERCISE 2

Describe the role of Finance in an enterprise.

3.7	Funds Flow

The working cycle described in figure 1 above demonstrates the way funds flow through business. There are a number of linked transactions.

Note: First, that every time funds flow in a business, there is a source of funds and a use of funds. That is, each transaction has two aspects:

1.	The generation or supply of funds

2.	The utilization of these funds.

4.0	CONCLUSION

The nature as well as the vital role played by finance in any business enterprise has been discussed and illustrated in this unit.

5.0	SUMMARY

In this unit, we have discussed the nature of evolution, field and role of Finance. Also, we have introduced finance as a common denominator in
 

September 30, 2025 8:00 PM

Sources of finance can be divided into internal and ?
Question 1Answer

external


Apart from money the the other two elements are operation and
Question 2Answer

personnel


which of the following is not a central role of finance manager?
Question 3Answer

planning of manpower needs



Preference shareholders receive dividend at a ?
Question 4Answer

fixed rate


The risks that some accident may destroy or spoil some physical goods created by the work financed is described as ?
Question 5Answer

physical risk


What is described as the provision of money at the time it is required?
Question 6Answer

finance


Which of the following is NOT part of the original field of finance?
Question 7Answer

Marketing strategies


Finance can be likened to a ?
Question 8Answer

lubricant


What is considered the common denominator for the full range of activities performed in business?
Question 9Answer

Money


which of the following is not a risk of finance?
Question 10Answer

cash risks

September 4, 2025 1:36 PM

Replies

Support

1.0	INTRODUCTION

In this unit of the course, we will discuss the scope of finance to be reached, emphasizing on the relevant areas of concern because finance is a wide area of studies with much interrelationship in business. It is part of management.

2.0	OBJECTIVES

At the end of this unit, you should be able to:

discuss the scope of finance

explain the financial and real asset market

identify types of financing

Discuss finance as part of management.

3.0	MAIN CONTENT

3.1	Scope of Finance

In Unit 1 of this Module, money (finance) was presented as a common denominator in doing business (trading). The other two elements that will combine to strike a balance in order to enhance the optimum utilization of resources of the business are: production and marketing.

The business cycle in Unit 1 explains financial (fund) activities and how they are related to the enterprise’s other activities. Manufacturing / operation activities provide goods/services to customers. They sell their
 

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BFN209	INTRODUCTION TO FINANCE


goods or services to earn profit. They raise funds to acquire manufacturing and other facilities.

A firm generates whatever capital it needs and utilises it (finance activity) in activities which generate returns on invested capital (production and marketing activities) as indicated in figure 1, Unit 1 earlier.


3.2	Internal and External Finance

There are two types of financing an enterprise can apply.

Internal Finance – also known to as equity fund/finance is referred to as Equity. This is solely owned/contributed by the stakeholders (within) and is referred to as an internally-generated fund.

External Finance – This is called borrowed fund/finance and referred to also as debt. The stakeholders source this from outside. This could be through direct loan, shares, etc. A firm/business can sell shares to acquire equity funds.

Shares represent ownership rights of their holders. Buyers of shares are called shareholders/stockholders and they are the legal-owners of the business whose shares they hold. For example, recruitment and promotion of employees in an organization, payment of their wages and salaries etc. involves finance. The evolvement of sales promotion/advertisement policies is within marketing preview. All these activities require cash budgeting, hence they affect financial resources.


Shareholders invest their money in the shares of a company in the expectation of a return on their invested capital. The return consists of dividend and capital gain.

Shareholders can be of two types

Ordinary and

Preference.

3.3	Financial and Real Assets Markets

There are two kinds of markets, namely:

1)	Financial Market

2)	Real Assets Market




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BFN209	MODULE 1


3.3.1 Real Markets

Real markets are for physical or tangible assets such as plant, machinery wheat, office, gold, buildings etc. Intangible real assets include copyrights, patent, technical know-how.

3.3.2 Financial Markets

Financial market trades on financial assets. This asset promises future benefits in the form of cash payments such as is applicable to bonds, certificate of deposits, treasury bills, etc.

SELF ASSESSMENT EXERCISE 1

Give examples each of financial and real assets

3.4	Finance and Management Function

There is a relationship between finance and other functions in business enterprises. You should know that all business activities, directly or indirectly, involve the acquisition and utilization of funds. All the activities and decisions undertaken in respect of the day-to-day financing of a business make finance and management functions interrelated. For example, decisions on the following finance issues are taken by management upon recommendation of the Financial Controller:

Preference shareholders receive dividend at a fixed rate and they enjoy a priority over ordinary shareholders.

The dividend rate for ordinary shareholders is not fixed and can vary from year to year depending on the board of directors.

A company can also obtain equity funds by retaining earnings available for shareholders. This is known as retained earnings (an internal equity) undistributed profits of equity capital.

Rights Shares – after a company distributes all earnings to shareholders, it can re-acquire new capital from the same source (existing shareholders) by issuing new shares.

Public Issue – may be  made to attract new (and the existing)

shareholders to contribute equity capital.

Creditors/Lenders (External Finance) – They are not owners of the company. They provide money to enterprises as loan which are debt.
 



15
 
BFN209	INTRODUCTION TO FINANCE


The loans are furnished for a specific period of time at a fixed rate of interest.

Payment of the interests is a legal obligation. The business can borrow fund from many sources like banks, financial companies, public or issuing bonds or debentures.

A bond/debenture is a certificate stating the amount of money lent by a bond holder to the company.

SELF ASSESSMENT EXERCISE 2

What is dividend?

4.0	CONCLUSION

The unit concludes that the scope of financing a business entity is from internally and externally generated fund. This keeps the business cycle turning to produce earnings (profits).

5.0	SUMMARY

In this unit, the scope of finance is summarized along with types of financing, real and financing market and finance as part of management.

6.0	TUTOR-MARKED ASSIGNMENT

1.	Discuss the scope of finance

2.	Identify types of financing in business enterprises.

7.0	REFERENCES/FURTHER READING

Jones, G.L. (1976).  Financial  Measurement for ManagersLondon

Edward	Arnold (Publishers) Ltd

Pandey, I.M. (2005). Financial Management 9th edition New Delhi VIKAS Publishing House PVT Ltd















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BFN209	MODULE 1


UNIT 3	THE FINANCE FUNCTIONS

CONTENTS

1.0	Introduction

2.0	Objectives

3.0	Main Content

3.1	Investment Function

3.2	Financing Function

3.3	Dividend Function

3.4	Liquidity Function

3.5	Financial Procedures

4.0	Conclusion

5.0	Summary

6.0	Tutor-Marked Assignment

7.0	References/Further Reading

1.0	INTRODUCTION

In this unit, you will be introduced to finance functions in the various stages of activities of a business organization. You may recapitulate that in the business cycle figure drawn in Unit 1, you were shown the functional movement of funds/financial activities through investment to cash, production of goods and services, given their marketing thereof.

2.0	OBJECTIVES

At the end of this unit, you should be able to:

identify the functions of finance

apply these functions of finance

Establish effective execution of finance functions.

3.0	MAIN CONTENT

Finance functions have been acknowledged as major in most organisations. They are identified as raising funds, investing them in assets and distributing returns earned from assets to shareholder/owners. This exercise is known as financing decision, investment decision and dividend decision.

These finance phenomena which will be treated extensively later; were expressed in figure 1, Unit 1, Module 1 of this course. When a firm endeavours to balance the cash inflows and outflows while performing the above functions, it is called liquidity decision. Hence, the list of important finance functions includes:
 


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BFN209	INTRODUCTION TO FINANCE



Long term asset-mix or investment function

Capital-mix or financing function

Profit allocation or dividend function

Short-term asset-mix or liquidity function

A business organization performs finance functions simultaneously and continuously in the normal course of its activities. The occurrence may, however, not be in sequence. Finance functions require skill and professional planning, control and execution of an organization’s activities.

SELF ASSESSMENT EXERCISE 1

List the important finance functions in a firm

3.1	Investment Function

Investment decisions involve capital expenditures which are referred to as capital budgeting decision. This is the decision of allocating capital to long-term assets that will bring in beneficial yield (cash inflow) in the future.

There are two important aspects of investment decisions:

a)	The evaluation of the prospective profitability of new investment; and

b)	The measurement of a rate against the prospective return of new investments could be compared.

Risk in investment, as would be explained in the next unit, arises

because of uncertainty in returns. Investment proposals should, therefore, be analysed and evaluated in terms of both expected return and risk.


SELF ASSESSMENT EXERCISE 2

What are the two important aspects of investment decisions?

3.2	Financing Function

This is another vital function in an enterprise. The financial manager has to identify the time, place and the technique for acquiring adequate funds to meet the enterprise’s investment needs. The central issue here is the determination of appropriate proportion of internal (equity) and


18
 
BFN209	MODULE 1


external (debt) finance required by the enterprise. The mix of the two is known as the capital structure of the business organization.

The Financial Manager strives to obtain and sustain the best financing mix, to optimize the capital structure, which forms the base of financing. The capital structure is said to be optimum when the market value of shares is maximized.

SELF ASSESSMENT EXERCISE 3

What is capital structure of an enterprise?

3.3	Dividend Function

This is the other major financial decision which affects the shareholders and the business as a whole – the decision to distribute all profits or retain same. The proportion of distribution of profit and the balance retained is subject to the firm’s policy, decision of the board of director or economic situation as applied. The proportion of profits distributed as dividend is called the dividend-payout ratio.

The retention ratio is the retained portion of profits. The dividend policy is determined by its impact on the shareholder’s value.

SELF ASSESSMENT EXERCISE 4

What is retention ratio in finance?

3.4	Liquidity Function

Liquidity and profitability affect investment in current assets in business organizations. Liquidity of an enterprise is affected by the level of management of current asset. Risk of illiquidity (lack of liquidity), in extreme situations, can lead to a business insolvency.

Current assets if properly/efficiently managed would safeguard the business organization against risk of illiquidity. The firm needs to invest sufficient funds in current assets in order to become liquid.

It would lose profitability, if more of available current assets are not utilized to earn any revenue.

To sum it up, financial decisions is concerned with the acquisition or disposal of assets through commitment or recommitment of funds on a continuous basis.