Question 1 of 20 383 total questions
The factor of production that combines others factors and bears the risks in production process is
A capital
B entrepreneur
C land
D labour
E wages
Who among the following is the last link in the chain of distribution?
A Consignor
B Consumer
C Producer
D Retailer
E Wholesaler
The agreement between an exporter and a ship owner to convey goods is known as
A charter party
B dock warrant
C marine policy
D shipping conference
E ships manifest
A cheque is not a legal tender because it is
A not mandatory to a creditor to accept it
B not negotiable
C transferable
D only a representation of money
E should be paid into a bank account
The reward of an agent working for a principal is a
A bonus
B commission
C dividend
D interest
E profit
Re-exporting imported goods to another country is known as ........ trade.
A barter
B counter
C entreport
D invisible
E visible
Which of the following risks would an insurance company not prepared to cover?
A Change in fashion
B Death resulting from HIV
C Loss of cash in transit
D Numerous employees
E Theft of property
Which of the laws of consumers protection fixes the rate of interest that may be charged on loans?
A Food and Drug Act
B Hire Purchase Laws
C Price Control Decree
D Sale of Goods Act
E Usury Laws
Organization of a wholesale warehouse in a typical company consist of the following EXCEPT ....... department.
A finance
B management and administration
C publicity
D production
E packing and dispatch
The amount which a company is empowered to raise for a business is its
A called-up-capital
B nominal capital
C paid-up capital
D issued capital
E working capital
Who among the following engages in manufacturing occupation?
A Bricklayer
B Carpenter
C Miner
D Musician
E Spinner
The national headquarters of Niger Basin Commission is at
A Lagos
B Niamey
C N’djamena
D Yamasucro
E Yaounde
Which means of transport is most suitable for moving crude oil, gas and water from Port Harcourt to Kaduna?
A Bus
B Pipeline
C Ship
D Tanker
E Trailer
For a contract to be valid, there must be
A drawee and drawer
B insured and insurer
C lessor and lessee
D offer and acceptance
E principal and agent
Combination of methods used by a firm for marketing its product is known as .......
A marketing concept
B marketing mix
C market research
D market segmentation
E market share
A public limited company can borrow from the public to increase its capital by
A debentures
B mortgage
C share
D stocks
E treasury bills
The service of a teacher is in the classification of
A commerce
B direct service
C extractive occupation
D indirect services
E industrial occupation
A form of business unit in which members are given patronage allowance is
A co-operative society
B joint stock company
C public corporation
D partnership
E sole proprietorship
Which of the following organizations look after harbours, docks and waterways in Nigeria?
A Nigeria Ports Authority
B Nigeria Navy
C Nigeria Export Promotion Council
D Nigeria Shippers Council
E Nigeria Customs Service
Assets of a business which can easily be changed into cash are called
A authorized capital
B current liabilities
C fixed assets
D liquid capital
E paid-up capital
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