Among the principles of taxation propounded by Adam Smith was that
A tax should be impossible to evade
A tax should be convenient to pay
No tax should be levied on food
There should be no taxation without representation
Correct answer is B
No explanation has been provided for this answer.
The central banks control credit in the economy through the use of
Legal tender
Travelers cheque
Foreign exchange instruments
Open market operation
Correct answer is D
No explanation has been provided for this answer.
Discounting a bill of exchange means the bill is
Cashed over the counter
Sold on the stock exchange
Bought for less than its face value
Sold to the highest bidder
Correct answer is C
No explanation has been provided for this answer.
The lender of last resort in the banking system is the
Industrial banks
Mortgage banks
Commercial banks
Central banks
Correct answer is D
No explanation has been provided for this answer.
A commercial banks deposits are
Liabilities
Assets
Capital
Cash at hand
Correct answer is A
No explanation has been provided for this answer.