Question 1 of 20 4,313 total questions
Which of the following shows the quality of money
A Ability to represent both small and large values
B Used for deffered payments
C Used as a unit for account
D Facilitating exchange
E Serving as a store of wealth
If Mr Olu insures Mr Obi's house, the insurer may, in event of a loss, refuse to pay compensation based on the principle of
A utmost good faith
B subrogation
C insurable interest
D indemnity
E contribution
Which of the following is an example of insurable risk?
A Change in consumer's taste
B The probability of a third world war
C Flood resulting from excessive rain in a year
D The death of a business partner
E Loss due to change in fashion
Which of the following is not a function of Development Banks?
A Give long-term loans
B invest directly into Agriculture
C Issue currency notes
D Give technical advice to investors
E Embark on priority projects of governments
Which of the following is not a means of controlling credit by the Central Bank?
A Fixing the bank rate
B Open market operations
C Clearing inter-bank indebtedness
D Special deposits
E Cashliquidity ratio
Which of the following is true of rail transport?
A Suitable for perishable goods
B Fast over long distances
C Maximum handling of goods
D Gaurantees safety of goods
E Does not travel on schedule
Credit in business transaction is?
A a form of loan
B compliment to a good customer
C provision of services
D a means of saving money
E a rebate for large purchases
Which of the following is not connected with after-sales services?
A Installment
B Granting trade discount
C Providing spare parts
D Repairing of product
E Replacing damaged goods
Which of the following is not a feature of hire purchase?
A Customer pays initial deposit
B Customer pays purchase price plus interest
C Payment is by instalment
D Ownership of goods passes to the customer on payment of a deposit
E Generally suitable for sales of durable goods
Rate of stock turnover is calculated to determine
A total volume of sales
B number of times goods are bought and sold
C number of times goods are counted
D total value of goods in the store
E the quality of goods sold
Which of the following is a pre-sales service to the consumer?
A Installement of the product
B Provision of credit facilities
C Maintenance of product for a period of time
D Transportation and delivery services
E Acceptance of damaged goods
An agreement to deliver goods in the future after payment of the final installment is known as?
A credit sales
B hire purchase
C conditional sale
D trade-in-sale
E leasing
Another name for a foreign order is
A consular invoice
B dock warrant
C standing order
D indent
E Pro forma invoice
Which of the following is not a function of the Nigerian Airport Authority?
A Maintains the buildings and tarmac
B Collects airport taxes
C Controls movement of aircrafts
D Maintains all aircrafts in the country
E Maintains security
Which of the following is not a negotiable instrument?
A Invoice
B Money order
C Cheque
D Promissory note
E Bill of exchange
Which of the following describes the marketing mix?
A Distribution, production policy, promotion, pricing policy
B Product planning, development , market research, price
C Product, Price, place, development
D Communication, advertising, pricing, promotion
E Advertising, pricing, development, communication
A document issued to a buyer showing the quantity description and prices of goods bought is called
A a catalogue
B an invoice
C a price list
D an order
E an advice note
The reward of entrepreneurship as a factor of production is
A interest
B commission
C profit
D salary
E rent
Movement of commercial vehicles in Nigeria is controlled by the
A Nigerian Ports Authority
B National Association of Road Transport Workers
C Federal Ministry of Transport
D Nigerian Customs Authority
E Nigerian Airports Authority
Key industries and those requiring huge capital are usually established as
A public corporations
B public limited companies
C private limited companies
D holding companies
E partnerships
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