Question 1 of 20 4,313 total questions
Which of the following facilitates settlement for sub-regional indebtedness?
A Niger Basin Commission(NBC)
B Lake Chad Basin Commission (LCBC)
C The West African Clearing House
D Economic Community Of West African States (ECOWAS)
E International Monetary Fund (IMF)
Which of the following is not a problem of ECOWAS?
A Different levels of economic development in member countries
B Transportation and communication links
C Different economic policies member countries
D Diversified economy for West Africa
E Use of different currencies
Which of the following specializes in granting loans to distressed economies?
A UNESCO
B ECA
C IMF
D IBRD
E UNDP
The major aim of indigenization is to
A standardize products
B accelerate participation of citizens in business
C promote international co-operation
D differentiate a country's product from the orders
E discourage foreign investment
When an industry formerly owned by individuals is taken over by the government, such an industry becomes
A privatized
B nationalized
C commercialized
D indigenized
E legalized
When a company sells its shares to an issuing house which later sells to the public, it is called
A an offer for sale
B a rights issue
C a public issue
D an issue by prospectus
E a private placing
The setting of objectives and determination of the best way to achieve them are known as
A coordinating
B planning
C organizing
D motivating
E controlling
Measuring performance against the set objectives is a management function that relates to
A staffing
B planning
C organizing
D motivating
E controlling
Any action taken by a company outside its stated objectives is regarded as
A caveat emptor
B ultra vires
C uberrimae fidei
D exemption
E formality
The management of a company with a view to ending its operation is known as
A low gearing
B high gearing
C liquidation
D horizontal integration
E vertical integration
The agency in Nigeria which ensures that products conform to government specifications and quality control is the
A Nigerian Labour Congress
B Manufacturers Association of Nigeria
C Nigerian Chamber of Commerce
D Standards Organization of Nigeria
E Ministry of Commerce and Industry
An association of small scale retailers formed to to encourage bulk buying from manufacturers is known as a
A voluntary chain
B producer co-operative society
C multiple store
D department store
E hypermarket
The words "Account payee only" on a cheque means
A it is transferable
B pay only to the holders account
C a special crossing
D it is a banker's cheque
E it is for endorsement
The set of actions of governments, and other organized bodies in response to users' complaints about goods and services is known as
A Consumer soveriegnty
B consumer protection
C consumer orientation
D consumer loyalty
E consumers' preference
Which of the following brings a public corporation into existence
A Certificate of Incorporation
B Certificate of trading
C Acts of Parliament
D Registeration
E Prospectus
A contract to take possession of goods on installment payment with the option to transfer ownership after full payment is known as
A credit sale
B conditional sale
C hire purchase
D trade-in-sale
E leasing
A transporter who had to sell some perishable goods without the authority of the owner becomes an agent by
A estoppel
B necessity
C ratification
D conduct
E appointment
A mercantile agent having title to goods in his possession is known as
A factor
B broker
C jobber
D auctioneer
E stag
When an acceptance to an offer is conditional, the offer becomes
A accepted
B a counter offer
C valid
D void
E frustrated
Ola presented his motor-cycle for sale to Musa at a cost of #8,000. Musa agreed and bought the vehicle at the same amount.
A offeror
B offeree
C acceptor
D guarantor
E surety
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