Can you help me with this accounting multiple choice quiz quickly please. The time limit is almost up and I need help!!! You can answer it for example like this: QU1) 2

SECTION A Choose the correct answer

QU1. The refinery at Petrotrin receives barrels of Oil from Suriname Under Processing Agreement (u.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.

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

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

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

QU5. Which of the following functions are not performed by households?

1. Suppliers of Labour
2. Production of Market Goods and services
3. Suppliers of Non-Market Services
4. Entrepreneurs