Question 1 of 20 4,313 total questions
A partner without an unlimited liability is known as a?
A dormant partner
B nominal partner
C general partner
D active partner
If the turnover of as business is N16,000 and the cost of goods N12,000, what is the percentage of gross profit on sales?
They total amount of money actually received by a company out of the issued capital is?
A paid - up capital
B unissued capital
C reserved capital
D called-up capital
A partnership without a deed shares profits/losses?
A in the ratio of partners' capital
B equally among the partners
C proportionate to patronage
D proportionate to assets introduced
A partner without an unlimited liability is known as a?
A dormant partner
B nominal partner
C general partner
D active partner
The greatest risk in a business venture is borne by the?
A trade creditors
B employees
C trade debtors
D entrepreneurs
Which of the following would not be stated in Memorandum of Association?
A Name clause
B Registered office
C Objective clause
D Rights of shareholders
When a number of thrift societies come together and are registered, they become a?
A holding company
B credit union
C trade union
D consumer association
When a public company receives the certificate of incorporation, this implies that?
A it can go ahead and start business
B it can no longer sue or be sued
C the company finds it difficult to raise capital
D the company's assets exist separately from those of its members
Industry is a branch of production because it?
A is a division of commerce
B increases utiility of goods
C involves the use of machines
D deals with its durable goods
Which of the following is not a commercial occupation?
A Transportation
B Warehousing
C Banking
D Fishing
A worker who processed garri is engaged in?
A extracting
B manufacturing
C exchange
D constructing
The scope of commerce is limited to?
A home and foreign trade
B wholesale and retail trade
C trade and aids to trade
D wholesale and entrepot
Use the information above to answer questions
A 1.53:1
B 1, 85:1
C 0. 87: 1
D 0, 50:1
Use the information above to answer questions
A N 250 000
B N 300 000
C N 420 000
D N 200 000
Public debt management is one of the functions of a?
A merchant bank
B central bank
C commercial bank
D development bank
A type of long-term loan granted to companies with fixed interest as well as with redeemable and irredeemable features is referred to as?
A a denbenture
B a bond
C a term loan
D an overdraft
Money can simply be referred to as a?
A medium of exchange
B means for the settlement of debts
C durable assets for doing business
D standard of value
The body with the responsibility to register shares for subscription on the stock market in Nigeria is the?
A Securties and Exchange Commission
B Nigerian Stock Exchange
C Nigerian Deposit Insurance Company
D Central Bank of Nigeria
An essential factor for evaluating the different sources of funds for a business is the?
A decree establishing the business
B ownership structure of the business concern
C size and the type of the business
D burden of cost and repayment
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