Question 1 of 20 383 total questions
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
What is NOT a function of marketing?
A changing the nature of the marketable goods
B enlargement of the market
C export promotion
D provision of employment
E segmenting the market
The best definition of Communication in Commerce is
A distribution of information
B movement of files
C movement of goods and passengers
D storing information
E transmission of information
What is the main aim and objective of ECOWAS?
A increasing the tax rate among member countries
B operating banking services among members
C promoting cooperation and development in all fields of economic activities
D providing employment opportunity to a few countries
E providing essential services among members
ln the selection of means of transport, speed is an important consideration for goods that are
A bulky
B durable
C fragile
D inferior
E perishable
A businessman started with N100,000 and spent N80,000 in buying premises and equipment. The balance of N20,000 is his
A authorized capital
B called-up capital
C capital employed
D fixed capital
E working capital
What covers the risk which an employer may suffer as a result of the dishonesty of an employee?
A accident insurance
B export credit insurance
C fidelity guarantee insurance
D fire insurance
E life assurance
Which business unit has a membership range of 2-50?
A Cooperative Society
B Partnership
C Private Limited Company
D Public Enterprise
E Public Limited Company
The different types of occupation in which people are engaged can be grouped as
A Direct Services, Commercial and industrial
B Manufacturer, Blacksmith and Industrial
C Industrial, Manufacturing and Commercial
D Teaching, Manufacturing and Commercial
E Trading, Teaching and Commercial
Another name for exchange of goods or other goods is called
A barter
B buying
C credit
D selling
E specialization
What is NOT an essential element of a valid contract?
A acceptance
B compensation
C consideration
D legality
E offer
Which document is used to advertise shares to the general public?
A Letter of Allotment
B Memorandum and Article Associations
C Newspaper
D Prospectus
E Radio and television
What is the fastest means of sending documents from one place to another
A courier services
B express letters
C parcels
D quick delivery
E registered letters
The compensation made to an insured for loss incurred in insurance is called
A commission
B indemnity
C interest
D pooling risks
E premium
A statement of the current price and terms of trade of a product or service is called
A debit note
B letter of inquiry
C order form
D quotation
E statement of account
Grouping consumers based on their purchasing habits is called market
A development
B expansion
C orientation
D segmentation
E selection
Which feature of money facilitates small transactions?
A divisibility
B durability
C portability
D recognisability
E scarcity
Who has no right of ownership to a business organization?
A debenture holder
B entrepreneur
C partner
D share-holder
E sole proprietor
Goods invoiced at N5,000.00 were sold to Adegoke at less 2½% trade discount. How much would he pay
A N2,875
B N3,875
C N4,875
D N5,175
E N5,125
What is a voluntary association of business executives, tradesmen, or entrepreneurs?
A Chamber of Commerce
B Economic Community of West African States
C Lake-Chad Basin Commission
D Niger Basin Commission
E Trade Union
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