Question 1 of 20 4,313 total questions
Compulsory dissolution of a business can arise from
A an agreement by the owners
B a declaration by a court of law
C the termination of its life
D an unfavourable economic climtate
Which of the following groups is paid first when a firm liquidates?
A Preference shareholders
B Debenture holders
C Ordinary shareholders
D Cumulative preference shareholders
Which of the following takes place when firms producing at different stages in the same industry combine?
A conglomeration
B vertical integration
C horizontal integration
D cartel
A distinguishing characteristics of a limited liability company is that it
A is a collection of many sole proprietors
B is a multiple partnership
C can sue and be sued
D has limited resources
A demonstration of social responsibility by a business is the payment of
A taxes to government
B dividends to shareholders
C interests on loans
D premium on insurance
The production process that combines two or more raw materials into one end product is
A conditioning
B blending
C merging
D synthesis
The type of activity which turns processed raw materials into consumer and industrial goods is described as
A extractive
B manufacturing
C constructive
D processing
Commerce is defined as the study of how
A man utilizes the resources in his physical environment
B man produces, distributes and consumes his goods and services
C man buys, sells and distributes goods and services
D raw materials are changed into finished goods
A group of persons that agrees to pool its resources to achieve a particular objective is known as?
A consortium
B holding company
C cartel
D trust
E subsidiary company
A group of persons that agrees to pool its resources to achieve a particular objective is known as?
A consortium
B holding company
C cartel
D trust
E subsidiary company
The organization that aims at protecting the business interest of a particular area is the?
A Trade Asociation
B Manufacturing Association of Nigeria
C Chamber of Commerce
D Confederation of industrialists
E Trade Union
Air transport is considerable importance today because it?
A is faster than other means of transport
B can deliver goods to owner's destination
C is relatively cheaper
D can carry bulky goods
E travels on schedule
A company that acquires a majority of the shares of the other companies with voting rights is regarded as?
A a consortium
B a holding company
C an amalgamator
D a subsidiary comapany
E cartel
Speed is an important consideration for the choice of a means of transport where goods are?
A bulky
B inferior
C fragile
D perishable
E durable
Speed is an important consideration for the choice of a means of transport where goods are?
A bulky
B inferior
C fragile
D perishable
E durable
The main advantage of water transport is that it?
A is safe
B is slow
C can carry heavy goods
D can go long distances
E is owned by private firms
New shares are offered to the public through?
A acceptance houses
B the stock exchange
C issuing houses
D discount houses
E finance houses
An increase in turnover is an increase in?
A liquid capital
B the volume of sales
C current assets
D fixed assets
E owners equity
A parcel of shoes valued at N2,000 only. Which of the following would be used by the seller to correct this error?
A An invoice for N200
B A credit note for N1,800
C A debit note for N1,800
D A debit note for N2,000
E A credit note for N2,200
Which of the following is true of a delivery note? It
A is sent in anticipation of delivery
B does not show the prices of the goods
C gives additional information about the goods
D shows the pictures of goods being delivered
E is a demand for payment
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