Shareholders of a corporation elect individuals to carry out certain tasks that are establishment in the charter. What these individuals are called ?

A. management
B. board of governor
C. top brass
D. board of directors

An outside professional conducts an examination of company’s accounting records in order to determine whether the company is maintaining records according to the generally accepted accounting principles. What this examination is called ?

A. checking
B. audit
C. stock-taking
D. accounting

Market in which forces of demand and supply are not in the control of government is called ?

A. market economy
B. free market
C. both of them
D. none of them

Term the group of countries that have removed all restrictions on trade among themselves?

A. close-trade zone
B. free-trade zone
C. both of them
D. none of them

Interest is______________?

A. payment made for the use of another person’s money
B. payment made for the use of bank’s money
C. share in profit
D. devaluation in the currency

What is called the trade without restriction of tariffs, quotas, or foreign exchange controls ?

A. open trade
B. free trade
C. open sky trade
D. easy trade

During a given period how the economic activity of a nation is measured?

A. gross domestic product (gop)
B. gross national output (gno)
C. gross national product (gnp)
D. gross national output

Minimum price of a commodity fixed by government to save the interest of producer of raw materials is called ?

A. floor price
B. fixed price
C. bid price
D. basic price

Group of Singapore, Hong, Kong, Taiwan, and south Korea is called?

A. four dragons
B. little tigers
C. four tigers
D. all of these

Downsizing is ?

A. to make in a smaller size
B. to make in actual size
C. to make in half size
D. none of these