Question 1 of 20 383 total questions
A voluntary association of business executives, trader men, entrepreneurs and others in a city, town or country is called a
A chamber of commerce
B consumers association
C manufacturers association
D trade association
E trade union
Which of the following CANNOT be sold through a vending machine?
A ice-cream
B shoes
C snacks
D tea
E tickets
Which is NOT a legislation aimed at protecting the consumer?
A consumer association act
B food and drugs act
C hire purchase act
D sales of goods act
E trade description act
One of the following does NOT fit into the group.
A agriculture
B carpentry
C fishing
D mining
E quarrying
An agreement that is enforceable in law is called
A a contract
B a declaration
C a decree
D an offer
E a statute
A holding company is one which holds shares in another company up to
Which of the is used in calculating working capital?
A factory premises
B furniture and fittings
C machinery
D office equipment
E stock of raw material
Which of the following means of transport is most flexible?
A air
B rail
C road
D sea
E waterways
Crude oil is best transported within the country through
A a container
B a trawler
C a tanker
D pipeline
E rail
Which of the following can be used to establish an importer's title to goods?
A bill of exchange
B bill of lading
C cargo receipt
D import licence
E way bill
An allowance made to a customer for prompt payment is known as
A . allowance
B bulk discount
C cash discount
D commission
E trade discount
An instruction to an agent abroad restricting him to buy from a named manufacturer is known as
A a closed indent
B an open indent
C an order
D pro forma invoice
E a standing order
The policy designed to accelerate the greater participation of Nigerians in the ownership and management of business enterprises in Nigeria is called
A commercialization
B indigenity
C industrialization
D nationalis-ation
E privatization
Which area of law is NOT related to business?
A agency
B contract
C hire purchase
D possession
E sale of goods
Which of the following does a seller send in reply to a letter of inquiry?
A advice note
B credit note
C debit note
D delivery note
E quotation
The rights of the consumers does NOT include
A the right to be informed
B the right to choose
C the right to fix prices
D the right to a healthy environment
E the right to safety
The main objective of nationalization of industries is to
A bring an Industry under state ownership and control
B Make more profit for the government
C prevent all aliens from taking part in the business activities of a country
D prevent existing firms from liquidation
E provide sources for additional capital for government
The breaking down of work into different processes is known as
A division of labour
B exchange
C production
D specialization
E working party
A tax paid on goods manufactured and consumed in your country is called
A consumer tax
B custom duty
C excise duty
D goods tax
E income tax
Which of the following is NOT regarded as a welfare service in an organization?
A housing
B medical facilities
C recreational facilities
D training
E transportation
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