Question 1 of 20 93 total questions
Which of the following are functions of marketing?
A Buying, fnancing, selling and transporting
B Sorting, grading, managing and storage
C Risk-bearing, storage, production and promotion
D Organizing, risk-bearing, transporting and storage
E Production, promotion, distribution and pricing
Dumping means selling goods abroad
A at a lower price than in the home market
B at a higher price than in the home market
C at the same price as in the home market
D on credit in the foreign market
E for ready cash in the foreign market
An agent who guarantees payments for goods sold is
A a factor
B a del credere agent
C a broker
D a partner
E an aunctioneer
The shares of XYZ Plc are quoted at the stock exchange by a jobber at 85k for k share. How much will Alabi, an investor who buys 500 shares pay?
A #675.00
B #425.00
C #250.00
D #175.00
E #75.00
A foreign order which instructs an agent to buy certain goods at a particular place called
A letter of credit
B letter of attorney
C open indent
D closed indent
E bill of laden
A group of people in the same line of business who come together for the interest of its members is called
A Chamber of Commerce
B trade association
C trade union
D consortium
E cartel
One of the demerits of sole trading is
A quick decision taking
B flexibility in operation
C unlimited liability
D pride of ownership
E ease of commencement
An insurance policy which benefits one's family only is in the event of one's death is known as
A a comprehensive insurance
B a whole-life insurance
C an endowment policy
D an annuity
E a third party insurance
Which of the following will enable customs officers to correctly assess import duties on goods?
A Pro-forma invoice
B Bill of exchange
C Documentary credit
D Consular invoice
E Bill of laden
Which of the following ensures that the quality of a product is maintained?
A Price Control Board
B Chamber of Commerce
C Food and Drugs Act
D Standards Organisation of Nigeria
E Manufactures Association of Nigeria
Which of the following clearly defines business?
A The process of planning, coordinating, organising and controlling
B The act of achieving goals with the help of others
C The act of buying and selling
D Sole proprietorship, Partnership and Public Limited Companies
E Any productive activity undertaken for profit motive
A group of public limited companies that commonly own a joint venture is known as
A holding company
B consortium
C cartel
D trust
E merger
One of the features of a supermarket is
A having similar shop fronts
B having many shops under one root
C selling common household goods
D having central control from headquarters
E selling without shops
The allowance given to a retailer to enable him make a profit is known as
A interest
B commission
C trade discount
D cash discount
E dividend
Which of the following is the main tool of mass selling
A public relations
B personal selling
C Consumer research
D Customer orientation
E Advertising
The face to face contact between sellers and buyers with the aim of selling a product is known as
A personal selling
B customer cordination
C promotion
D advertising
E public relation
Which of the following is not a reason for imposing import duties? To
A improve balance of trade
B improve quality of goods for consumers
C obtain revenue
D protect infant industries
E prevent dumping
In a business environment, which of the following variables can a business man conveniently control?
A Product
B Politics
C Culture
D Economy
E The laws
Which of the following is not a way of raising capital for business?
A Issuing of bonds
B Borrowing
C Savings
D Ploughing back profit
E Issuing dividend warrants
In which of the following business units are the owners mostly the customers?
A Co-operatives
B Partnerships
C Public corporations
D Limited liability companies
E Sole proprietorship
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