2. Production of Market Goods and services 3. Suppliers of Non-Market Services 4. Entrepreneurs SECTION A Circle the correct answer QUI. The refinery at Petrotrin receives barrels of Oil from Suriname Under Processing Agreement (4.p.a), which it processes for a service fee. The petroleum products produced with the oil received are sold by Petrotrin in the Trinidad market and the sales revenue is returned to Suriname after deducting the processing fee. Select the answer below that best describes this arrangement. 1. Legal and Economic Ownership remains with the Suriname supplier. 2. Legal Ownership remains with the Suriname supplier but Economic Ownership is transferred to Petrotrin. 3. Economic Ownership and Legal Ownership are transferred to Petrotrin, SECTION B TRUE OR FALSE QU6. Balance Sheets show the Flow of Assets and Liabilities between one accounting period and another. True False QU7. Saving is the balancing Item of the Capital Account True False QU2 Goods and Services are exchanged and used 1. As Final Consumption 2. For Investment 3. As Inputs in the production of other goods and services 4. All of the above QU8. In addition to the balancing item brought across from the Primary Distribution of Income Account, the Secondary Distribution of Income Account records the same types of social transfers on the Resources side as the Uses side. True False QU9 When Balance Sheets are being prepared, Assets and Liabilities are recorded at the current values, not at their original values. True True o False QU3. Transactions valued at the actual price agreed upon by the transactors are referred to in the SNA as: 1. Basic Prices 2. Current Prices 3. Actual Prices 4. Market Prices QU10 Net Borrowing occurs when Changes in Net Worth due to Saving and Capital Transfers exceed the investment in Non-Financial Assets True O False QU4. Economic Actions undertaken by agreement between institutional units are called 1. Economic Flows Contracts 2. Contracts between parties 3. Transactions 4. Voluntary Transfers 5. Economic Value QUS. Which of the following functions are not performed by households? 1. Suppliers of Labour