If Nigeria imports vehicles from Japan the transaction will appear as a
Debit on Japan's balance of payments
Credit on Japan's balance of payments
Credit on Nigeria's balance of trade
Credit on Nigeria's balance of payment
Correct answer is B
The balance of payments (BOP) is a statement of all transactions made between entities in one country and the rest of the world over a defined period of time, such as a quarter or a year.
Japan's current account in the balance of payment will have a credit balance to the tone of the car value in monetary terms while Nigeria's capital account will be debited
The primary motive for an individual engaging in production is to
Make profit
Satisfy basic human wants
Redistribute wealth
Put inputs into use
Correct answer is A
The main motive of a business organization, especially private business enterprise is to make profit.
One of the characteristics of free trade zone is
Common tariff against non-member countries
Different trade policies of non-member countries
Free factor mobility within the zone
Harmonized trade among member countries
Correct answer is D
In a free trade zone, trade/business transactions are allowed to move freely between member nations. Each member country is allowed to determine its own trade policies with regard to non-members.
The maximum number of shareholders for a limited liability company is
Twenty
Five
Seven
Infinite
Correct answer is D
There is no limitation on the number of shareholders a limited liability company can have.
A disadvantage of Nigeria's dependence on imported petroleum products is the
Instability in the demand for the products
Dominance of multinational firms
Instability in the supply of the product
Poor maintenance of the refineries
Correct answer is C
No explanation has been provided for this answer.