Question 1 of 20 2,221 total questions
The powers of attorney that transfers to a third party the shareholders right to vote is called?
A warrant
B shareholder's benefit
C proxy
D bond
E rights issue
Organization formed mainly by traders and manufacturers to cater for the interest of their members is called?
A trade union
B co-operative societies
C trade association
D chamber of commerce
E manufacturers association
Which of the following is not required for the dissolution of a partnership?
A Experiation of partnership deed
B Termination of the venture
C One partner notifying the other of his intention to dissolve it
D mutual consent of the partners
E Order from the registrar of companies
Whichof the following is not true of limited partnership?
A Every member is a limited partner
B All members are general partners
C All members are limited liability
D There is at least one ordinary partner
E Limited and ordinary members must be equal in number
A partnership is formed for banking business is made up of?
A 2 - 10 members
B 2 -20members
C 2 - 30 members
D 2 - 40 members
E 2 - 50 members
The insured is the?
A insurance company
B insurance company's client
C insurance broker
D insurance agent
E insurance manager
Under the law of insurance, exemption causes?
A enable the insurance to claim on the insurance company
B protect the insurance company under the contract
C guard against occurrence of the insured events
D protect a third party under the contract
E protect the insured against the insurance company
The worth of a life insurance policy be maturity date is known as?
A principal value
B surrender value
C accumulated value
D prepaid value
E accrued value
Prior to the issue of a certificate on a motor insurance contract, the insured is issued with?
A a licence of insurance
B insurance policy certificate
C a cover note
D a simple receipt
E an invoice
Which o the following is not an attribute of an effective business manager?
A Empathy
B Subjectivity
C Altrumism
D Objectivity
E self awareness
The critical factor in organizing a business is?
A money
B capital
C machinery
D management
E control
Branding is a good example of?
A informative advertising
B marketing mix
C persuasive advertising
D consumerism
E competitive advertising
In the contract of sale of goods,"let the buyer beware" is signified by?
A del credere
B uberrima fidei
C caveat emptor
D res ipsa loquitor
E caveat vendetta
A counter offer operates as?
A an acceptance
B an offer
C a rejection
D an agreement
E a contract
Production ends when goods?
A and services are used by the producer
B are packed and labelled
C are sold in the market
D and services reach the final user
E are advertised to the consumers
Which of the following towns was important to the trans-Saharan traders?
A Enugu
B Oyo
C llorin
D Kaduna
E Kano
Which of the following support the view that there was commerce in Nigeria many years ago?
A The economy was consistent
B Specialization was minimal
C Cowries were used as money
D Horses wee used as means of transportation
E Communities were interdependent
Which of the following convert raw materials into finished goods?
A Extractive industry
B Manufacturing
C Commercial occupation
D Constructive industry
E Tertiary industry
The practice of employing specialists in relevant occupation is a feature of?
A subsistence economy
B mobility of labour
C mixed economy
D exchange economy
E division of labour
The process of buying and selling and distribution of goods and services is known as?
A retail trade
B commerce
C marketing concept
D marketing mix
E wholesale trade
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