The fastest means of sending a printed message from Lagos to London is through
3
An association that mobilizes the savings of members and channels them to needy members is known as
4
If Ade issues a Union Bank cheque to Chukwu, the Union Bank is the
5
Which of the following is the clearing house for all the banks in the country?
6
Commerce developed as a result of
7
An overdraft can only be granted to the holder of a
8
Which of the following is not a source of capital to a partnership?
9
Which of the following functions of the wholesaler helps to stabilize prices
10
The rebate given to the retailer by the wholesaler to enable him make profit is known as
11
Division of labour often results in
12
Who among the following is not an agent?
13
Who among the following comes first in the channel of distribution?
14
The services rendered by Nigerian Airways to foreign companies are part of Nigeria's
15
One of the characteristics of a debenture is that
16
Which of the following is a disadvantage of credit transaction?
17
In which of the following do the goods become the property of the buyer on the payment of first installment
18
Which of the following government legislation is not aimed at consumer protection?
19
Self-service, mail order and automatic vending are examples of
20
Span of control is defined as the
21
An established pattern of relationships among members of an organization is known as
22
The aspect of management which ensures that there is no deviation from the set standards is called
23
When a Public Limited Company is incorporated it means that
24
The Manager, Afribank, Lagos. Please pay to Great Nigeria Insurance Company, from my account, a sum of #125.00 at the end of every month until further notice, starting from this month. The above instruction is a
25
A retailer's mark-up is his
26
Debenture is an example of
27
Which of the following is not an acceptable collateral security for a bank loan?
28
Which of the following is the basic principle of marketing concept?
29
The compensation given to brokers who sell shares to jobbers is called
30
The Stock Exchange does not deal in
31
The insurance principle which expects the insured and the insurer to disclose all facts about a proposed contract is called
32
Which of the following is not covered by fire insurance policy?
33
Which of the following is not considered when siting a retail shop?
34
The law stipulating that labels should contain full details about a product is known as the
35
A design which distinguishes the goods of one producer from those of others is called
36
Which of the following is responsible for the maintenance of the quality of goods produced
37
The document stating the particular country from which goods are imported is called
38
Which of the following makes it possible for people to collect their letters at their convenient time ?
39
Which of the following is not a function of the Nigerian Ports Authority?
40
Which of the following indicates special crossing on a check? Two parallell lines with
41
Which of the following is usually sent to prospective buyer when the seller expects payment of the goods dispatched?
42
A company which acquires more than 50% voting shares of another company is called?
43
Which of the following is true of a merger?
44
Which of the following covers damages to the body of a ship and its machinery?
45
The major disadvantage of pipeline transportation is that it
46
Which of the following are true of a bill of lading? i. it is a means of payment in foreign trade. ii. it is document of title to goods. iii. it is a contract of carriage. iv. it is usually drawn in triplicate.
47
The difference between the total amount owed to a country and the total amount owed by it is
48
Which of the following is not true of branding?
49
Which of the following is a disadvantage of air transport?
50
Which of the following is not a characteristic of Charter party?
51
Which of the following is issued to the exporter or his agent when the goods has been loaded in the ship?
52
A common carrier is
53
The cost of goods sold divided by the average stock held during a trading period gives the
54
An organized market for securities is called
55
A carton of spoons valued at #3,000.00 was invoiced at #300 only. Which of the following documents would be used by the seller to correct the error?
56
Which of the following is not a means by which banks facilitate foreign trade?
57
Which of the following is a characteristic of a private company?
58
Food and Drugs Act, Weights and Measure Act, Standards Organization of Nigeria, etc are aimed at
59
The reorganization of public enterprises to operate as profit-making ventures is known as
60
The intangible benefits arising from the business connections and reputation of a firm is called
61
Which of the following monitors people's opinion about a firm and takes measures to correct adverse impressions?
62
Which of the following mostly serves as a useful promotional device for consumer goods?
63
Which of the following is a function of advertising?
64
The main reason for advertising an already existing line of products is to
65
The principle of insurance that restores the insured to the position he occupied immediately before the loss occurred is called
66
Business activities that direct the flow of goods and services from the producer to the consumer is
67
Capital owned is synonymous with the
68
Which of the following is not performed by marketing?
69
The products that are regularly and easily bought by customers through habit are called?
70
A business unit whose membership range from 2 to 20 is a
71
Which of the following conditions may lead to the dissolution of a partnership?
72
Which of the following is a legal tender?
73
Which of the following takes the shortest time and is the most accurate means of communication?
74
When an assured is unable to honor his obligation in an insurance contract thereby terminating it before maturity he could only receive
75
Assets of a business which cannot easily be changed into cash are known as
76
The imposition of high tariff on imported goods by the customs authority is to
77
Who among the following has no right of ownership to a business organization?
78
From the following figures in the accounting books of XY company, calculate its working capital : stock #2,000; cash #1,500; Creditors #1,000; Bank overdraft #1,400
79
If goods invoiced at #1,500 were sold to Etim at less 15% trade discount, he would pay
80
An agent who takes possession of goods and sells in his own name but does not guarantee payment is known as
81
The total assets of Ogo Plc is #16,000 and the liabilities included loan #2,000, creditors #1,000 and electricity bill #2,000. Calculate the capital owned by the company?
82
Ali Plc with issued capital of #500,000 in #1.00 shares has for now requested shareholders to pay only 50k for each #1.00 share. The amount requested from the shareholders by the company is called?
83
When a company raises additional capital by selling shares directly to the public through insurance companies or investment houses, this is known as
84
Which of the following is not one of the aims of indigenization? To
85
One of the features of reinsurance is the
86
Which of the following is used in home trade?
87
To which of the following occupations does a broker belong?
88
When firms that operate at different stages in the production of a commodity merge, this is known as
89
The document which gives the current price and terms of trade of a product is called?
90
Which of the following is not a function of merchant banks?
91
A restriction on the quantity of a commodity that could be imported is known as
92
The art of combining human, material and other resources to achieve the stated goals of a business is known as
93
An agent with authority to bind his principal in everything, provided he acts lawfully is called
94
Mr Ojo paid Nnamdi the sum of #3,000 for a piece of land without their signing any deed of sale. Which of the following elements of contract is lacking in the transaction?
95
When an industry is nationalized, ownership belongs to the
96
The payment made to the insured for loss incurred is
97
When a bill of exchange is signed by a debtor, it is said to be
