I.

CHOOSE THE ANSWER 

1. A country with a ... account surplus, for example, can use the extra money to
invest abroad, or it can put it in its cookie jar of foreign currency reserves.
A. existing
B. current
C. payment
D. present
2. Most good systems will provide accounting controls against errors, as well as a
division of duties to reduce the possibility of .............
A. Appropriations C. Misappropriation
B. Disappropriations D. Misappropriations
3. .............. is a statistical record of all the economic transactions between residents
of the reporting country and residents of the rest of the world during a given time
period.
A. The balance of trade C. Barter or counter-trade
B. Merchandise trade D. The balance of payments
4. Consumers will get ..........of 8% off phone bills from May.
A. Price cut B. Price controls C. Price tag D. Price war
5. The practice of selling foreign imports in the domestic economy at priceslower
than the actual cost of production is called.........
A. Dumping B. Competing C. Challenging D. Restricting
6. 7. A country with a ... account surplus, for example, can use the extra money to
invest abroad, or it can put it in its cookie jar of foreign currency reserves.
A. existing
B. current
C. payment
D. present
 7. The narrowest measure of a country's trade, the merchandise trade balance, looks
only at "..." goods such as videocassette recorders, wine, and motorcycles.
A. visible
B. invisible
C. invincible
D. unsighted
8. A company disposes of equipment that it no longer uses in its business. The
amout received by the company is more than the amount the asset is carried at in
the accounting records. The company will report a...........
A. Expenses B. Gains C. Loss D. Revenue
9. All businesses need to maintain ............. in order to find out if they are making a
profit.
A. Trial balance C. Net Assets
B. Financial Records D. Income Taxes
10. People who work for privately-owned organizations work in the .............
A. Globalization C. Market forces
B. Private sector D. Gross national
11. Financial accounting information is designed primarily to ............ in deciding
where to place their scarce investment resources.
A. Minimize the income tax burden C. Set the company’s overall goal
B. Measure and communicate D. Assist investors and creditors

12. .............. seek to ensure that the various departments of the company follow the
policies and procedures established by management.
A. Chief Accountants C. Financial Analysts
B. Internal Auditors D. Managers

II. CHOOSE THE ANSWER 

 ADVERTISING

If consumers are going to buy a good or service they must be aware of its existence. The
advertising function of the Marketing Department communicates with the customer
through media such as newspapers, television, the cinema and posters. It will also be
concerned with the design and distribution of catalogues, special offers, sponsorships,
displays, competitions and product launch campaigns. Some companies prefer to leave
the advertising of a product to a specialist advertising agency. The agency is said to have
the company’s account.

advertising can be classified into two broad categories: informative and persuasive.
Typically an advert contains elements of both. When a product is first launched, sales are
low because very few customers are aware that it exists. The role of advertising here may
be to inform the public of the product’s existence and its particular uses. The same
applies when a product has been modified or improved. In other cases the nature of the
product may be such that a large amount of technical information has to be supplied, and
advertising again may have to be informative.

1. Why can't customers buy goods or services?

A. Because they know the goods or services.

B. because they are not aware of the goods or services.

C.  Because they are not forced to do so.

D. All of the above.

2. What The Marketing Department uses the media ?

A. Function as a department.

B. Communicate with the public.

 C. To advertising on TV.

D. To be concerned.

3.  What is the meaning of sponsorship?

A. a company allows a certain event to happen.

B. a company pays the costs of a certain event in exchange for advertising.

C. a company advertises at a certain event, free of exchange.

D. a company distributes catalogues.

4. What must the company do when it unveils a new product?

A. A lunch.

B. A campaign.

C. A launch campaign.

D. All of the above.

5. What do people need when they first know a new product?

A. People need to learn how to use it.

B. People need to buy it

C. People need to become aware of its existence.

D. All of the above.

KEYS

1- B 2- B 3- C 4-C 5-C