Question 1 of 20 4,313 total questions
An arrangement in insurance which provides for the payment of a stipulated sum either at death or the expiration of a stated period is known as ……….
A accident
B endowment
C fire
D fidelity
E whole life
From the date of issue, cheques are valid for-----------months.
Which of the following is NOT true of a cheque as a means of payment? It
A can be made out of a definite payee
B is generally acceptable
C is safer than carrying cash
D is transferable
E serves as a proof of payment
Which of the following is NOT true of a cheque as a means of payment? It
A can be made out of a definite payee
B is generally acceptable
C is safer than carrying cash
D is transferable
E serves as a proof of payment
The reply to a letter of inquiry is a/an
A advice note
B estimate
C order
D quotation
E statement
Coal mining is an example of
A construction
B service
C extraction
D manufacturing
E tertiary
The payment made by government to producers to enable them reduce price is known as
A bonus
B compensation
C margin
D make-up
E subsidy
The actual amount of share capital a company is allowed to issue to the public is the ---- capital
A authorized
B issued
C paid-up
D reserved
E working
An example of service rendering trade association is
A Association of Nigerian Miners
B Cocoa Farmers’ Association
C Manufacturers Association of Nigeria
D Nigerian Bar Association
E Saw millers Association of Nigeria
The losses incurred in the running of Public Corporations are borne by the
A board of directors
B debenture holders
C managing director
D shareholders
E tax payers
A disadvantage of commercialization of public enterprises in Nigeria is that it
A creates room for competition with private owned enterprises
B enables consumers have value for their money
C generates funds for government
D leads to reduction in work force
E promotes efficiency
Which of the following relies on subvention as the main source of capital?
A Cooperative society
B Partnership
C Public corporation
D Public limited company
E Sole trader
The principle of insurance that prevents the insured from benefiting in an event where he suffers no material or financial loss is
A Indemnity
B insurable
C proximate cause
D subrogation
E utmost good faith
Which of the following is an objective of regional economic grouping?
A For easy religious interactions
B For single political governance
C For stable political governance
D To encourage free flow of trade among members
E To harmonize the culture of member countries
The building of schools and hospitals for communities by some oil companies in Niger Delta of Nigeria is an example of
A business diversification
B business integration
C consumer protection
D discharge of social responsibility
E indigenization
When a cheque has R/D written on it, it means that the cheque
A has been dishonoured
B has been honoured
C has been paid into the drawer's account
D has not been signed
E is wrongly worded
An example of a secured loan is
A backdraft
B co-operative loan
C mortgage
D overdraft
E trade credit
A document that is sent by the seller to the buyer to indicate an increase in the annual owes is
A credit note
B debit note
C invoice
D letter of credit
E receipt
The department responsible for recruitment and promotion of staff is
A finance
B legal
C personnel
D production
E purchases
The final stage in the production process is
A consumption
B manufacturing
C retailing
D warehousing
E wholesaling
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